§ 10-283. Annual indexing procedure.

(a)

The board may adopt an annual transportation impact fee index ordinance (index ordinance) at least ninety (90) days prior to October 1 of each year, unless a full review of the impact fee amounts set forth in section 10-327 and the impact fee study are completed pursuant to section 10-279 herein before October 1 of such year. Such ordinance shall be subject to the notice requirements of section 10-284 herein.

(b)

The index ordinance shall set forth adjusted impact fee rates for land use categories reflecting the rates contained in the indexed schedule or changes in the cost of impact fee components for the upcoming year.

(c)

Provided, however, that the cost increases described by the indexing methodology in the impact fee study may be reduced or eliminated at the board's discretion.

(d)

The adjusted rates set forth in the index ordinance shall take effect on January 1 of the year following the year in which the index ordinance is adopted subject to the notice provisions set forth in section 10-284 herein.

(Ord. No. 15-14, § 1, 9-1-2015)