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<br />WHEREAS, any interest or other income earned on monies deposited in said interest- <br />bearing account shall be credited to the applicable account; and <br /> <br />WHEREAS, the Commission has found and determined that impact fees are an <br />appropriate technique for funding public improvements; and <br /> <br />WHEREAS, by future ordinance, the Commission has determined, or will determine <br />for each impact fee, that the payment of the impact fee and its expenditure for needed public <br />facilities or improvements will result in a benefit to the development for which it is imposed; <br />and <br /> <br />WHEREAS, the future ordinance, Commission has developed and adopted a schedule <br />of impact fees for each category of public facility or improvement by land use classification; <br />and <br /> <br />WHEREAS, by future ordinance, the Commission has provided a credit (offset) <br />mechanism in cases where the proposed development has been subject to required dedication of <br />public sites and/or public improvements for which impact fees are also being imposed and in <br />cases where the new development will otherwise pay for a portion of such new development <br />through principal payments of bonds issued for the same purpose; and <br /> <br />WHEREAS, the Commission has determined that the impact fee amounts bear a <br />reasonable relationship to the burden imposed upon the City to provide the additional capital <br />expenditures for such public facilities or improvements to serve the new development at the <br />appropriate level of service (LOS) standard; and <br /> <br />WHEREAS, the Commission has developed fee calculation methodologies which will <br />be imposed in an equitable and non-discriminatory manner; and <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF <br />THE CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br /> <br />Section 1. Adoption of Impact Fee Analysis: The analysis performed by consultants which <br />provides the rationale, data sources and methodology used to derive the three impact fees <br />which shall have been adopted by Ordinances No. 2001- 133 , 2001-13~ and 2001- <br />r~> , imposed by the municipality to offset capital costs, to wit: is attached hereto and made <br />a part hereof as Exhibit "A" which may be amended from time-to-time. <br /> <br />Section 2. <br /> <br />Definitions. . <br /> <br />A. In the interpretation and construction of this Chapter, the following rules of <br />construction shall apply: <br /> <br />1. The word "shall" is always mandatory and not discretionary and the <br />word "may" is permissive. <br /> <br />Impact Fees Resolution <br /> <br />3 <br />