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Ordinance No. 2014-020 Comprehensive Plan Capital Improvements Element With this year's update, additional capital projects have been added that are associated with the recently adopted Gifford Neighborhood Plan (2014). In addition, some projects have had their timeframes extended. While some project time frames have been extended, none of the extensions will impact development project concurrency reservations. Because the County is slowly recovering from the depressed housing market, problems with the financial markets, and limited construction activity, it is anticipated that most of the capacity associated with many of those projects will not be needed until later dates. Construction dates for improvements to two segments of C.R. 510 have been extended by 1 year. Those segments are C.R. 510 between 55`x' Avenue and the Indian River and C.R. 510 between 70th Avenue and 55`x' Avenue. Although the available capacity on those segments has been reduced with recent traffic count increases, programmed improvements will provide for increases in available capacity. While some transportation projects are being rescheduled to later years of the CIP, there is one factor that is expected to increase available capacity in the short term. That factor is that concurrency certificates for some development projects with vested trips will expire soon. At that time, the reserved trips reflected by those projects will be removed from the concurrency management system. For some of those projects, owners will not re -apply for new concurrency certificates if non -traffic impact fees would be due or if the owner decides not to pay for the updated traffic analysis which would be required with any new concurrency application. By extending the timeframe of transportation projects, the County can utilize its limited resources to complete priority concurrency related projects within the overall capital improvements program. In effect, the County needs to delay some projects so that other projects will remain fundable and so that additional priority projects maybe funded. By funding necessary projects and other priority projects, and by extending the time frames for other projects, the County is maintaining a financially feasible capital improvements element. • Priority Transportation Capital Improvements Program The Priority Transportation Capital Improvements Program is a list of transportation projects for which a specific start date and a specific completion date are listed. As allowed by state law, the County considers the additional capacity to be produced by those roadway improvement projects as being available now for concurrency purposes. As such, a development project impacting a deficient link can proceed despite the deficient link, where a roadway improvement project for the deficient link will be under construction no later than three years after issuance of the first building permit for the development project. In 2010, because of lower demand and/or a slower increase in demand on area roadways from the depressed housing market and the pending expiration of concurrency certificates for previously Community Development Department Indian River County Adopted , 2014, Ordinance 2014- 32