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There was no further discussion. The Chairman CALLED THE QUESTION, and the Motion carried unanimously. The Board approved for the County to disburse the impact fee refunds with interest earned at the same rate as the County on the funds. Attorney Polackwich presented and provided analysis on Issue II, Rationale/Criteria for Optional Three Year Extension to Encumber or Spend Fees. He reported that due to the economy, the State has granted approval extensions to many developments, and confirmed that there is a legal basis for extending the fees, because the timing of the infrastructure projects would better coincide with the timing of actual development. Director Keating, responding to Commissioner Davis's questions, provided information about three recent instances where the State has extended development approvals. Mr. Wilson outlined his reasons for opposing the three-year extension. Administrator Baird affirmed that the three-year extension was necessary in order to construct some of the projects needed to accommodate growth. Commissioner Solari believed it was unfair to hold onto a homeowner's impact fee payment for an additional three years, when they have not and may never derive the benefit associated with the fee. He stated he would definitely not support the option extension for payments that were already in the system. Vice Chairman O'Bryan remarked that extending the refund period would make it more likely that the County would have the funds needed to construct the infrastructure improvements. He believed the people are owed a level of service, and pointed out that a lot of the refunds would be going to investors or banks that had purchased foreclosure properties. February 21, 2012 23