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ORDINANCE NO. 2002- 029 AN ORDINANCE OF INDIAN RIVER COUNTY, FLORIDA, AMENDING ORDINANCE 2001-036 BY DELETING THE ZONING REVERTER CLAUSE FOR PROPERTY KNOWN AS "THE COLONY, P.D." CONSISTING OF APPROXIMATELY 297 ACRES OF LAND GENERALLY LOCATED BETWEEN 13TH STREET SW ON THE NORTH, 17TH STREET SW ON THE SOUTH, 27TH AVENUE ON THE EAST, AND 43RD AVENUE ON THE WEST; PROVIDING FOR SEVERABILITY AND EFFECTIVE DATE. WHEREAS, the Board of County Commissioners of Indian River County, Florida, did adopt Ordinance 2001-036 on December 11, 2001, which ordinance amended the zoning ordinance extending the zoning reverter from December 31, 2001 to December 31, 2002 for approximately 297 acres of land generally located between 13th Street SW on the North, 17th Street SW on the South, 27th Avenue on the East, and 43rd Avenue on the West; and WHEREAS, Ordinance 2001-036 provided that the said zoning would revert to RS -3 on December 31, 2002, unless a land development permit for all or any portion of the project has been issued prior to that date; and WHEREAS, the said reverter provision was adopted at the request of the developer, and not as a requirement of the land development code; and WHEREAS, the developer has requested the reverter date be deleted; and WHEREAS, the Board finds that it would not be adverse to the public interest to grant the extension requested by the developer; NOW, THEREFORE, BE IT ORDAINED by the Board of County Commissioners of Indian River County, Florida, that: The Zoning of the property situated in Indian River County, and legally described in EXHIBIT A (attached) be changed from RS -3 to PD, residential and that the PD conceptual plan (see EXHIBIT B, attached) will control and regulate development of the subject land. CODING: Words stmek Mfougl� are deletions; words underlined are additions. \\FILESERVER\PUBLIC\Community Develot)ment\Users\CurDev\ORDINANCE\ordinance-ire-colony 2002.doc