§ 70-10. Management of Impact Fee and Service Charge Funds.

The Impact Fee Administrator shall serve as the Sarasota County Administrator designated official responsible for administration, implementation and interpretation of all Impact Fee ordinances, policies and manuals.

Funds collected pursuant to Chapter 70 Articles II, V, IX, X, and XI shall be processed as follows:

(1)

Collection of Impact Fee and Service Charge. Impact Fees and Service Charges calculated and imposed pursuant to this article and Chapter 70 Articles II, V, IX, X, and XI shall be collected by the applicable Collecting Agency upon issuance of a Certificate of Occupancy in the unincorporated County and in any Municipality participating in the Impact Fee program.

(2)

Transfer of funds to County Finance Department. Impact Fees shall be transferred from the Collecting Agency to the County Finance Department for placement in the appropriate trust fund account which has been established pursuant to subsection (c) of this section. The Service Charge shall be placed in the account and disbursed as set forth in Section 70-10(e).

(3)

Trust funds established.

a.

There is hereby directed to be established a separate Impact Fee trust fund account for each Impact Fee ordinance pursuant to Chapter 70 Articles II, V, IX, X, and XI.

b.

Funds withdrawn from this account must be used solely in accordance with the provisions of subsection (d) of this section. The disbursal of such funds shall be in accordance with the Capital Improvement Program of the County and/or applicable Municipal Comprehensive Plans and as directed by the Board of County Commissioners.

c.

Any funds on deposit not immediately necessary for expenditure shall be invested in interest-bearing accounts. All interest earned shall be retained in the applicable Impact Fee trust fund account.

(4)

Use of funds collected.

a.

The funds collected by reason of Chapter 70 Articles II, V, IX, X, and XI shall be used exclusively for the purpose of undertaking Public Facility Projects or for financing directly, or as a pledge against bonds, revenue certificates and other obligations of indebtedness, the Project Costs of Public Facility Projects.

b.

All Impact Fee funds shall be utilized for Public Facility Projects within the applicable Impact Fee District.

c.

Where there are multiple Impact Fee Districts established within an Impact Fee Article, Impact Fee funds shall not be used in adjacent areas unless the Board adopts the following findings of fact, supported by competent evidence and data concerning the impact of new development and the need for and capacity of the Public Facility Project being built in the adjacent area:

1.

"Adjacent area" for purposes of this subsection shall mean and include only those Impact Fee Districts which abut the boundaries of the Impact Fee District from which the Impact Fee has been collected. "Adjacent area" for purposes of this subsection shall not include any area outside of the corporate boundaries of Sarasota County.

2.

The need for the Public Facility Project in the adjacent area is reasonably related to the needs created by new development in both Impact Fee Districts from which funds will be used;

3.

The Public Facility Project in the adjacent area will substantially benefit new development in the Impact Fee District from which Impact Fees are to be transferred;

4.

At least one-third of the minimum service area for the Public Facility Project to be constructed in the adjacent area falls within the Impact Fee District from which Impact Fees are to be transferred and the Public Facility Project is designed to serve residents of both Impact Fee Districts from which Impact Fees will be used; and

5.

The amount of Impact Fees transferred for expenditure in an adjacent area shall not exceed 50 percent of the total Public Facility Project Costs.

(5)

Service Charge funds collected shall be distributed to the Collecting Agency for Certificate of Occupancy administration, to the County for financial administration, and to the County for the establishment, amendment and updates of the Impact Fee ordinances, in percentages to be determined by resolution of the Board.

(Ord. No. 2016-045, § 11, 11-8-2016)