(A) As a pre-condition to the adoption of this subchapter, the Town Council undertook a comprehensive and detailed park and recreational impact analysis through the employment for that purpose of Baker Tilly Investment Advisors. The Town Council does now find that the resulting study and data base constitute a sufficient study to constitute a Zone Improvement Plan. The Town Council does hereby adopt the Zone Improvement Plan and Special Purpose Report - Zone Improvement Plan prepared by Baker Tilly Investment Advisors, and dated according to its most recent update, June 7, 2022, as its Zone Improvement Plan and finds in this regard that said Zone Improvement Plan does contain the following elements:
(1) Reasonable estimates relating to the nature and location of development that is expected within the impact zone during the planning period, which, for the purposes of this subchapter is defined to be a period of five years commencing with the date of adoption hereof;
(2) A reasonable determination of the community level of service for the impact zone;
(3) A reasonable determination of the current level of service provided within the impact zone;
(4) A reasonable estimate of the nature, location, sequencing and timing of the park and recreational requirements and costs necessary to provide the community level of service for the developments contemplated in division (A)(1) above;
(5) A reasonable estimate of the share of the park and recreational costs identified in division (A)(4) above that will be used to:
(a) Raise the current level of service for existing development or provide service to existing development; or
(b) Provide service to new development.
(6) A reasonable estimate of revenues that:
(a) Are from sources other than impact fees; and
(b) Will be used to finance the cost identified in division (A)(5)(a) above.
(7) A description of the nature and location of existing infrastructure in the impact zone; and
(8) A general description of the sources and amounts of money used to pay for infrastructure during the previous five years.
(B) In addition, the Town Council does hereby specifically adopts the Zone Improvement Plan as an official part of the Comprehensive Plan of the town, pursuant to I.C. 36-7-4-500 et seq.
(Ord. 30-2022, passed 6-27-2022)