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Interlocal Agreement Between the County and City of Sebastian Related to Impact Fees <br /> INDIAN RIVER COUNTY, FLORIDA <br /> SECTION 3 . PURPOSE . <br /> The purpose of this Agreement is to ensure that Impact Fees necessary for the <br /> adequate provision of Countywide Capital Facilities (a) are imposed upon, and <br /> collected from , new development in the City, including public development projects , <br /> in an equitable and fair manner; (b) are transferred, upon collection by the City, to the <br /> County for placement in segregated, interest-bearing trust fund account ; and (c) are <br /> appropriated and expended in accordance with the Ordinance and applicable laws . <br /> SECTION 4 . DEFINITIONS . <br /> For the purposes of this Agreement, the following terms are defined as indicated <br /> below : <br /> Building Permit means a permit issued by the City that authorizes the <br /> commencement of a development activity that results in the creation of new floor area <br /> or one or more new dwelling units, including an expansion to a single- family <br /> residence that results in an increase in square footage under air from a lower size <br /> category to a higher size category, as provided in the County ' s impact fee schedule, <br /> and thereby generates a demand for Countywide Capital Facilities . <br /> Capital Facilities means capacity-producing land, buildings , improvements , <br /> and equipment with at least a 5 year life expectancy, necessary for the provision of <br /> public services to new development . <br /> Countywide means related to or applicable to areas within the incorporated <br /> and unincorporated areas of Indian River County. <br /> Countywide Capital Facilities means those Capital Facilities that are <br /> provided throughout the City and the unincorporated areas of the County, which are <br /> not otherwise provided by the City, and for which the County imposes Impact Fees <br /> Countywide . "Countywide Capital Facilities" include, but are not limited to , Capital <br /> Facilities related to corrections , solid waste, County public buildings , libraries , fire <br /> and emergency services , public education and County roadway improvements . <br /> Impact Fee means a fee assessed pursuant to the Ordinance and collected and <br /> transmitted pursuant to this Agreement to offset the costs of providing Countywide <br /> Capital Facilities necessary to serve new development within the County. <br /> Indian River County Impact Fee Ordinance means the Ordinance, approved <br /> by the County Commission in May of 2005 , including all amendments thereto <br /> subsequently adopted in the manner prescribed in this Agreement . <br /> Methodology Reports means the reports , and all amendments thereto , adopted <br /> by the County Commission, prepared in support of the proportionate Impact Fees <br /> established and imposed by the Ordinance . <br /> SECTION 5 . RESPONSIBILITIES OF THE CITY. <br /> (a) The City will establish a segregated account, into which all Impact Fee <br /> funds collected by the City, pursuant to this Agreement, will be maintained until such <br /> time as they are transferred to the County consistent with the Ordinance and the terms <br /> of this Agreement . <br /> Page 4 of 10 <br /> April 4, 2005 <br />