§ 26-98-650. Annual adjustment and review of fees.

(a)

On January 1st of each year beginning in 1995, the development fees imposed by Sections 26-98-600 through 26-98-680, inclusive, shall be adjusted by the department of transportation and public works by a percentage amount equivalent to the percentage change in the engineering news record construction cost index for the preceding twelve (12) month period. The amount of fee applicable to any permit shall be computed based on the fee in effect as of the date of department of permit and resource management's approval of the building permit, or in those cases specified in Section 26-98-660(a)(3), the fee in effect at the time for the department of permit and resource management's discretionary approval of the permit.

(b)

The board of supervisors shall review the adequacy of the development fees established herein at least once every three (3) years or, if required or appropriate, more often than once every three (3) years.

(c)

The department of transportation and public works and the department of permit and resource management shall provide an annual report to the board of supervisors which specifies:

(1)

Any change in the fee due to automatic annual adjustments;

(2)

The status of the trust funds established to fund the development of public infrastructure in the countywide area; and

(3)

The status of any improvement projects financed in full or in part by such trust funds.

(Ord. No. 4816 § 1, 1994: Ord. No. 4643, 1993.)