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ORDINANCE 2004-015 <br />AN ORDINANCE OF INDIAN RIVER COUNTY, FLORIDA, AMENDING LAND <br />DEVELOPMENT REGULATIONS (LDRS) CHAPTER 953, FAIR SHARE ROADWAY <br />IMPROVEMENTS. <br />BE IT ORDAINED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER <br />COUNTY, FLORIDA THAT THE INDIAN RIVER COUNTY LAND DEVELOPMENT <br />REGULATIONS (LDRS) BE AMENDED AS FOLLOWS: <br />1. A portion of Chapter 953.05 Legislative Finding is hereby amended to read as follows: <br />The Board of County Commissioners of Indian River County finds, determines, and declares that the <br />report entitled "Update of the Fairshare Roadway Impact Ordinance, Final Report," dated September <br />1998, sets forth a reasonable methodology and analysis for determination of the impact of new <br />development on the need for and costs of additional right-of-way, road construction, and road <br />improvements in Indian River County. <br />Furthermore, the Board of County Commissioners of Indian River County also finds, determines, <br />and declares that the report entitled ' Update of the Traffic Impact Fee Ordinance — Cost Estimate <br />Variables, Final Report," dated May, 2004 sets forth a reasonable methodology and analysis for <br />determination of updated cost and credit components for use in the calculation of roadway impact <br />fees in Indian River County. <br />2. Chapter 953.07(2)(b) Fee is hereby amended to read as follows: <br />(b) The impact fees in the fee schedule have been reduced by fifteen percent thirty (30) percent for <br />the period of time between September 1, 2004 and August 31 2005; twenty-five (25) percent for the <br />period of time between September 1, 2005 and August 31, 2006; twenty (20) percent for the period <br />of time between September 1, 2006 and August 31, 2007; and by fifteen (15) percent effective <br />September 1, 2007 For applicants preparing an individual assessment pursuant to subsection (3) of <br />this section, shall also be entitled to a fifteen (15) percent the fee reduction in effect at the time of the <br />submittal of the individual assessment shall be applied to the fee amount determined through that <br />individual assessment. <br />3. Chapter 953.11 Review of fee schedule is hereby amended to read as follows: <br />• <br />review of the "fair share roadway improvements fee ' schedule in section 953.07(2)(a), <br />on any revisions to the population for the county, travel characteristics, road costs or inflation. <br />Beginning in fiscal year 2006/07, and continuing in every third year thereafter, the county <br />administrator or his designee shall analyze the cost components of the traffic impact fee formula and <br />prepare a revised traffic impact fee schedule for consideration by the board of county commissioners. <br />4. Chapter 953.15(2) Indian River County Traffic Impact Fee payment schedule is hereby <br />amended to read as follows: <br />Coding: Words in strike through type are deletions from existing law. Words underlined are additions. 1 <br />F:\Community Development \Users\MPO\TIF \COST ESTIMATE UPDATE 2003-04\TIF BCC Ordinance.doc <br />