2. In the event a scheduled facility improvement is removed from the CIE, then the revenues collected for its construction may be applied toward the construction of another improvement within that same corridor or sector that would mitigate the impacts of development pursuant to the requirements of subsection C.(3). 3. Where an impacted regional facility has been designated as a regionally significant transportation facility in an adopted regional transportation plan as provided in F.S. § 339.155, then the County may coordinate with other impacted jurisdictions and agencies to apply proportionate fair-share contributions and public contributions to seek funding for improving the impacted regional facility under the FDOT Transportation Regional Incentive Program (TRIP). Such coordination shall be ratified by the County through an interlocal agreement that establishes a procedure for earmarking of the developer contributions for this purpose. I. Method for Cost Escalation This Section contains a method to estimate growth in costs, through the computation of a three-year average of the actual cost growth rates. This will provide a growth rate that should be smoothed to avoid overcompensating for major fluctuations in costs that have occurred due to short term material shortages. Cost n = Cost 0 × (1 + Cost_growth 3yr ) n
Where: Cost n = The cost of the improvements and associated costs in year n; Cost 0 = The cost of the improvement and associated costs in the current year; Cost_growth 3yr = The growth rate of costs over the last three years using the FDOT District 7 rates; N = The number of years until the improvement is constructed. The three-year growth rate is determined by the following formula: Cost_growth 3yr = [Cost_growth -1 + Cost_growth -2 + Cost_growth -3 ]/3 Where: Cost_growth 3yr = The growth rate of costs over the last three years; Cost_growth -1 = The growth rate of costs in the previous year; Cost_growth -2 = The growth rate of costs two years prior; Cost_growth -3 = The growth rate of costs three years prior. The growth rate shall be determined using the FDOT District 7 rates. (Ord. No. 06-35, § 2(Exh. A), 11-2-06)
Roadway LOS Report – Rezoning/Concurrency Reviews
D- 6
Made with FlippingBook Learn more on our blog