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M Future Land Use Element Policy 1.24 J Future Land Use Policy 1.24 states that any property redesignated - commercial through a land use plan amendment shall revert to its former designation if construction on the site has not commenced within a two year period, unless such_timeframe is modified by the Board of County Commissioners as part of a development agreement. This policy decreases land speculation, and helps ensure that demand for additional commercially designated land is present before requests to expand nodes are approved. It also allows for the correction of nodes mistakenly expanded in the absence of demand for more commercially designated land. Future Land Use Element Policy 2.5 Future Land Use Element Policy 2.5 states that the County shall encourage and direct growth into the Urban Service Area. The subject property is located within the Urban Service Area and is undeveloped. To develop the property according the applicant's plans, the subject property must have a commercial land use designation. Therefore, the proposed remedial amendments will encourage development on the site and is consistent with Future Land Use Element Policy 2.5. - Conservation Element Objective 5 Conservation Element Objective 5 states that there will be no net loss of the natural functions* provided by wetlands or deepwater habitats in Indian River County. Any proposed alteration of wetlands on the subject property will require county permits, including mitigation to ensure "no net loss" of the natural functions of wetlands. For this reason, the proposed remedial amendments are consistent with Conservation Element Objective 5. - Conservation Element Policies 6.8 and 6.12 Conservation Element Policy 6.8 requires, in conjunction with site plan project construction, the removal of nuisance and invasive exotic vegetation. Conservation -Element Policy 6.12 requires non- agricultural operations of five acres or more to preserve 10-15% of on site native upland plant communities. Since these policies will be implemented with development on the subject property under both the proposed and the existing land use designations, the proposed remedial amendments are consistent with Conservation Element Policies 6.8 and 6.12. Conservation Element Policy 7.2 Conservation Element Policy 7.2 states that for developments on property known to support endangered plant species, the developer shall be required to notify state and federal agencies and to protect the species. This policy would apply to the subject property since the site -supports an endangered hand fern colony. The policy applies equally under both the proposed and the existing land use designations. For this reason, the proposed remedial amendments are consistent with Conservation Element Policy 7.2. - Economic Development Objective 1 Economic Development Objective 1 states that the county will reduce its unemployment rate. The regional mall facility associated with this request will provide approximately 3,074 new jobs for the area. The developers expect the project to provide jobs for some of those -presently unemployed as well as providing opportunities for secondary wage earners currently unable to find jobs. For 55 BOOK October 25, 1994