§ 17-177. Annual indexing procedure.

(a)

The commission shall adopt an annual index resolution prior to July 1 of each year, unless a full review of this division and the park impact fee study is completed pursuant to section 17-188 before July 1 of such year.

(b)

The annual index resolution shall set forth adjusted park impact fee rates for countywide parks, community parks and recreational facilities reflecting changes in the cost of impact fee components for the upcoming year as set forth below.

(c)

Park impact fee components pertaining to construction and equipment costs shall be adjusted by the percentage change from the previous fiscal year in the Construction Cost Index published by the Engineering News Record, or a comparable index recommended by the impact fee coordinator.

(d)

Park impact fee components relating to land acquisition costs shall be adjusted by the percentage change for the previous fiscal year in the fair market value of park land owned by the county as determined by written appraisals of county owned park properties. Such appraisals shall be performed by an M.A.I. appraiser using generally accepted appraisal techniques.

(e)

Provided, however, that the adjustments described in subsection (c) and (d) above may be reduced or eliminated at the commission's discretion.

(f)

Upon adoption of the annual index resolution, notice of the adopted impact fee rates for the upcoming year shall be provided in accordance with section 17-190 hereof.

(g)

The adjusted rates set forth in the annual index resolution shall take effect upon expiration of the notice period set forth in section 17-190 hereof on October 1 of the year in which the annual index resolution is adopted.

(Ord. No. 06-10, § 2.02, 6-26-06)