06-1207 ULDR Amendment Concurrency Management Fair Share Mitigation

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(3) The methodology used to calculate an applicant's proportionate fair-share obligation shall be as provided for in Chapter 163.3180 (12) Florida Statutes, as fOllOWS: Proportionate Share = L [(Development Tripsi) / (SV Increasei)] x COSti] - IMPACT FEE CREDITS Where: Development Trips;= SV Increase; = Those trips from the development that are assigned to roadway segment i and have triggered a deficiency per the concurrency management system; Service volume increase provided by the eligible improvement to roadway segment i per Section E; Adjusted cost of the improvement to segment i. Cost shall include all improvements and associated costs, such as design, right-of-way acquisition, planning, engineering, inspection, and physical development costs directly associated with construction at the anticipated cost in the year it will be incurred. Cost; = IMPACT FEE CREDITS = See section 3-9.11 (F) (1) where applicable. (4) For the purposes of determining proportionate share obligations, the City shall determine improvement costs based upon the projected future cost of the improvement as obtained from the Capital Improvements Program or another method approved by the Public Works Director. (5) The City has the option to accept right-of-way dedication for all or a portion of the proportionate fair-share payment. Credit for the dedication of the non-site related right- of-way shall be assigned a value by appropriate City staff or, at the option of the applicant, by fair market value established by an independent appraisal approved by the City and at no expense to the City. The applicant shall supply a drawing and legal description of the land and a certificate of title or title search of the land to the City at no expense to the City. If the estimated value of the right-of-way dedication proposed by the applicant is less than the City estimated total proportionate fair-share obligation for that development, then the applicant must also pay the difference. (F) Impact fee credit for propottionate fair-share mitigation (1) Proportionate fair-share mitigation shall be applied as a credit against impact fees if the proposed improvement is on the list of approved projects in the most recent City Impact Fee Ordinance and Technical Report. Credits will be given for that portion of the impact fees that would have been used to fund the improvements on which the proportionate fair-share contribution is calculated. The portion of impact fees available for the credit will be based on the historic distribution of impact fee funds to the arterial roadways and collector roadways in the appropriate impact fee district. Impact fee credits shall be calculated at the same time as the applicant's proportionate share obligation is calculated. Ordinance 06-1207 Page 4 of 5