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Board of County Commissioners <br />April 9, 2014 <br />Page Two <br />Once the School Board receives the impact fee funds, the School Board is required to maintain the impact <br />fee funds in a segregated, interest-bearing account, until such time as the funds are expended. It is the <br />responsibility of the School Board to expend the impact fees for the acquisition or expansion of those <br />facilities that result in a substantial benefit to new development. <br />The County has the responsibility to review applications for refunds. Upon request of the County, the <br />School Board will return the impact fee funds, including any accrued interest, to the County that are not <br />appropriated or expended within the timeframes set forth in the Indian River County Impact Fee <br />Ordinance (the "Ordinance). Upon the return of the impact fee funds, the County is required to refund the <br />impact fee funds to the fee payor or property owner in the manner proscribed in the Ordinance. All refund <br />requests are handled by Community Development staff. <br />The Interlocal Agreement also requires the County Administrator to review the expenditures of the impact <br />fee funds proposed by the School Board in its annual five-year facility plan. This review is typically <br />conducted during the County's annual update of the Capital Improvements Element of the Comprehensive <br />Plan. <br />Although the County in the Interlocal Agreement does more than merely forward the impact fee funds that <br />the County collects to the School Board, the purpose as described in the Interlocal Agreement is to make <br />sure that the impact fee funds once collected by the County and the cities, "are properly earmarked and <br />transferred to the School Board for expenditure in accordance with the Ordinance." Additionally, the <br />School Board in the Interlocal Agreement indemnifies, defends and holds harmless the County for any <br />claims or lawsuits "connected with the calculation, assessment, collection, expenditure, or other matter <br />related to" the impact fee unless caused by the "sole negligence, or the willful, reckless, or illegal <br />conduct" of the County. <br />DR:LAC <br />F IAuornrylLindoiGE.NERALIB C C' 4genda MemoelSchool Board lmpaat Fee /LA.doc <br />241 <br />