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ORDINANCE NO. 2007-011 <br />Section 214.03. Findings. The Board hereby finds and determines: <br />(a) The anticipated transportation demands on State Road 60 will exceed the <br />level of service established in the Comprehensive Plan and thus applications for New <br />Development are anticipated to fail to meet the requirements of the Concurrency <br />Management System in accommodating new Trips within the State Road 60 Radius of <br />Influence. <br />(b) While the Segment Improvements will eliminate existing deficiencies and <br />create new Trip capacity within the State Road 60 Radius of Influence consistent with <br />the transportation projections contained and the level of services established in the <br />Comprehensive Plan, the State Road 60 Interest Share Fee constitutes a reasonable <br />estimation of the Interest Component to be incurred to provide new Trip capacity.. <br />(c) Projected allocation of available Federal and State Funds in the five-year <br />Transportation Improvement Program adopted by the Indian River County Metropolitan <br />Planning Organization are insufficient to fund the Segment Improvements on a basis <br />concurrent with the projected demands for transportation capacity needed by New <br />Development within the State Road 60 Radius of Influence in a manner consistent with <br />the Comprehensive Plan. <br />(d) The County by resolution has determined to agree with the Florida <br />Department of Transportation to enter into Advance Construction Agreements providing <br />for the advance construction of the Segment Improvements conditioned upon the <br />advancement of their cost of construction by the County. <br />(e) The Advance Construction Agreements will provide for reimbursement to <br />the County from available State and Federal Funds of the principal amount advanced <br />4� <br />