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INDIAN RIVER COUNTY The purpose of the Planned Village Overlay is to allow for an agriculturally oriented small town surrounded by large tracts of agricultural or open space areas. The minimum size for a Planned Village is 5,000 acres and it allows for a range of uses to include retail, wholesale, office, commercial, industrial, research/ corporate uses, warehouse/distribution, residential, lodging places, recreational uses, public/semi-public uses, schools, hospitals, or agricultural uses. Applications for a Planned Village must include a FLUM designation of AG/OS (Agricultural/Open Space) for a minimum of 40% of the overlay area, a FLUM designation of Mixed Use (MU) for the establishment of a central village center (to be designed as neo -traditional development), and FLUM designations that allow for a maximum residential density of up to three dwelling units per acre for the areas not included within the Mixed Use designations. As part of the request, a Village Master Plan shall be submitted for review and approval by the Board of County Commissioners. This Master Plan shall include a financial strategy document to ensure that the resulting Planned Village Overlay area is not a fiscal burden to the County. The Master Plan must also include overall design principles such as neighborhood form, distinct places, and public amenities. Additionally, the Master Plan shall include a thoroughfare plan and transportation framework to address mobility within the Overlay. As per Section 5 of the Plan Amendment PA-18-03/Ordinance 21-17, any utilities within the Planned Village Overlay district and east of the FDAB that may be provided by Manatee County must file a privately initiated amendment to the Comprehensive Plan. This amendment is necessary to adjust the boundaries of the FDAB Line and the Potable Water/Wastewater Service Area to encompass the proposed development. Alternatively, private infrastructure can be used to accommodate the buildout within the ... Planned Village Overlay. Comprehensive Plan Policy 2.2.2.10.5.1.1 requires a financial strategy for infrastructure improvements to be submitted with the associated Village Master Plan. The intent of this strategy is to ensure that the establishment of the Planned Village Overlay is not a fiscal burden to the remainder of the County. The fiscal strategy is required to include the following: (a) Analysis of the public facility capital costs through buildout both with the development boundaries and outside of the development boundaries; (b) Analysis of the public facility operating costs; (c) Identification of revenue sources to cover capital and operating costs; (d) Evaluation of the degree of self-sufficiency; (e) Recommendations on revenue sources to promote self-sufficiency to include independent impact fee schedules, Community Development Districts, Municipal Taxing Units, Municipal Benefit Districts, and or Stewardship Districts; (f) Regulatory steps to achieve the plan; (g) Adoption of the Local Development Agreement to address implementation. As written, there are multiple options to fund the infrastructure within the Planned Village Overlay, with the goal of self-sufficiency to reduce the burden on existing public infrastructure. Projects Outside of the FDAB The County has approved at least six residential projects outside of the FDAB. Figure 4 shows the location of residential projects approved outside of the FDAB. Most recently, the County approved two expansions -an► of Lakewood Ranch, known as the Taylor Ranch and the East River Ranch. The Taylor Ranch project includes up to 4,500 residential units on 2,307 acres. The East River Ranch will include up to 5,378 Appendix C: Peer Jurisdictions Report C-8