This article and the educational system impact fee study shall be reviewed by the
county and school board at least every three years. The initial and each review thereafter
shall consider new estimates of population and other socioeconomic data, changes in
construction, land acquisition and related costs, and adjustments to the assumptions,
conclusions or findings set forth in the study adopted by section 24-39. The purpose of this review is to evaluate and revise, if necessary, the educational
system impact fee to ensure that the fee does not exceed the reasonably anticipated
costs associated with the improvements and additions necessary to offset the demand
generated by growth. In the event the review required by this section alters or changes
the assumptions, conclusions and findings of the study adopted by reference in section 24-39, the study shall be amended and updated to reflect the assumptions, conclusions and
findings of such reviews and section 24-39 shall be amended to adopt by reference such updated studies.
In addition to the foregoing, the school board shall appoint a school board business
advisory board whose purpose will be to periodically report on the capital funding
budget of the school board as it relates to the educational system impact fee and
expenditures of the educational system impact fee. The school board advisory board
shall report at least every six (6) months on the expenditures of the educational
system impact fee. Such reports shall be provided to the board and the school board.
The school board advisory business board shall consist of seven (7) members, with
four (4) being selected by the board and three (3) being selected by the school board.
Appointments to the school board business advisory board should be persons who possess
such skills as would assist them in the evaluation of capital expenditures. Among
the persons who should be considered for inclusion on the school board business advisory
board are realtors, appraisers, engineers, architects, landscaping specialists, accountants,
builders, developers, general contractors, surveyors, planners, lawyers, and construction
trade business people. Appointments shall be made for two (2) year terms and the termination
of terms shall be staggered.
