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INTERLOCAL AGREEMENT BETWEEN INDIAN RIVER COUNTY AND THE CITY OF SEBASTIAN /- 7-0 r1 /y 3 o3-daS THIS AGREEMENT, by and between Indian River County, a political subdivision of the State of Florida, ("County"), whose address is 1840 25th Street, Vero Beach, Florida 32960, and the City of Sebastian, a Florida municipal corporation, ("City"), whose address is 1225 Main Street, Sebastian, Florida 32958, shall take effect upon execution by the second of the two parties. WHEREAS, the Florida Interlocal Cooperation Act of 1969 (Chapter 163, Florida Statutes (2002), and Section 125.01(p), Florida Statutes (2002), authorize the County and the City to enter into this Interlocal Agreement; and WHEREAS, Section 953.08, The Code of Indian River County, provides, "No building permit approval shall be issued until any applicable 'fair share roadway improvements fee' is paid according to these provisions. The obligation to pay the fee shall run with the land."; and WHEREAS, Subsection 953.07(b), The Code of Indian River County, provides in part, "The fee shall be paid to the county administrator or his designee, prior to issuance of a building permit for the development and no building permit shall be final until any applicable fee has been paid."; and WHEREAS, under the authority of Section 125.045, Florida Statutes (2002), in an effort to attract and retain business enterprises, with regard to commercial developments having a fair share roadway improvements fee of less than $50,000, the County is willing to deem the fair share roadway improvements fee as paid at the time of issuance of a building permit and forbear collection until the time of issuance of a certificate of occupancy or a period of twelve (12) months after issuance of a building permit, whichever comes first; and WHEREAS, the City collects fair share roadway improvements fees on behalf of the County for development within the geographic bounds of the City of Sebastian, In consideration of the mutual promises contained herein, the County and the City hereby agree as follows: 1. For commercial developments within the geographic bounds of the City of Sebastian having a fair share roadway improvements fee of less than $50,000, the County shall deem the fair share roadway improvements fee set forth in Chapter 953, The Code of Indian River County, as paid at the time of issuance of a building permit, and forbear collection until the time of issuance of a certificate of occupancy or a period of twelve (12) months after issuance of a building permit, whichever comes first.