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Dr. McGarvey felt the need to review the land issues and other minor issues presented <br />after one year and then they should move to a three-year review. <br />Mr. Wallace explained that the indexing impact fees concept could be used to address <br />the increase in cost that the School Board is seeing and every other infrastructure as well. <br />Commissioner Wheeler felt impact fees need to be updated annually. <br />Councilman Dunlop of Orchid recommended waiting long enough to have the School <br />Board's figures in hand and to have them on the same cycle. In the interim they could look to <br />the Property Appraiser's information and come up with an index for a yearly review between the <br />three year periods. <br />Discussion continued whereby Mr. Wallace recommended they take their best guess at <br />the index up front, apply it uniformly over a 3 -year period and put it in place, and adjust it <br />accordingly at the end of the three-year period. <br />Assistant Superintendent Robinson complimented Mr Wallace and confirmed that he <br />has worked diligently with the School District and, as said earlier, he is protecting the legality of <br />the impact fee by making a conservative estimate. She pointed out the cost difference to build a <br />550 student elementary school to be approximately $10 million according to the report, but the <br />actual cost is $16 million. She supported the methodology because it is conservative and <br />defendable, but the standard of construction is based on the restraints passed by the Department <br />of Education. The legislature is currently taking up this issue. Since the hurricanes and other <br />issues that have caused the cost of steel to increase they are concerned that an index on the <br />School Board will not work. They are interested in having methodology go forward as it is and <br />have an opportunity in a year to come back with calculations that might change up to 20 or 30 %. <br />Tim Zork, local home builder and a member of the Treasure Coast Building Association, <br />addressed the issues of shared infrastructure on donated sites with the School Board, the source <br />MARCH 16, 2005 8 <br />JOINT MEETING - IMPACT FEE STUDY <br />OA <br />M.j <br />