(A) A developer may choose to satisfy the transportation concurrency requirements of the city by making a proportionate fair share contribution, pursuant to the following requirements:
(1) The proposed development is consistent with the Comprehensive Plan and applicable Land Development Regulations; and,
(2) The city five-year Community Investment Program (CIP) includes a transportation capital improvement that, upon completion, will accommodate additional traffic generated by the proposed development.
(B) The city may choose to allow a developer to satisfy transportation concurrency requirements by making a proportionate fair share contribution by contributing to an improvement, that upon completion, will accommodate additional traffic generated by the proposed development, but is not contained in the five-year CIP, where one (1) of the following conditions apply:
(1) The city adds the improvement to the five-year CIP no later than the next regular capital improvements update of the Comprehensive Plan, provided that the improvement is financially feasible as defined by Fla. Stat. § 163.3180(16)(b)(1); or,
(2) If the funds in the five-year CIP are insufficient to fully fund the construction of the improvement, the city may enter into a proportionate fair share agreement with the developer authorizing construction of that amount of development on which the proportionate fair share amount is calculated if the proportionate fair share amount in such agreement is sufficient to pay for one (1) or more improvements which will, in the opinion of the City Council, significantly benefit the impacted transportation system, provided that improvement(s) is(are) adopted into the five-year CIP no later than the next regular capital improvements update of the Comprehensive Plan.
(C) Any transportation capital improvement proposed to meet the developer's proportionate fair share obligation must meet the design standards of the city for city-maintained roads and the design standards of the applicable governmental entity for all other roads.
(Ord. 2006-128, passed 11-14-06)