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7 <br /> F. ANNUAL REPORT <br /> A report shall be made to the Board of County Commissioners each year showing where <br /> public school impact fees have been collected, what projects have been constructed with such fees, <br /> and what reimbursements have been made. The report shall also include an evaluation of this <br /> ordinance, including its effectiveness and enforcement, and the methods and data used to calculate <br /> the Schedule of Public School impact Fees contained in Section 3. <br /> The Board of County Commissioners shall review the report to determine if, within each <br /> benefit area, all areas of new construction are being benefited by the fees. If the Board of County <br /> Commissioners determines that areas of new construction are not being benefited, then it shall <br /> readjust the capital improvements program to correct this condition. If, after review of the methods <br /> and data used to calculate the Schedule of Public School Impact Fees, the Board of County <br /> Commissioners determines that adjustments are required in the Schedule, then it shall direct the <br /> County Manager and staff to prepare a report which outlines recommended changes for its <br /> consideration. <br /> SECTION 6-CREDITS <br /> Any conveyance of land for a public school site or construction of new school facilities <br /> received and accepted by Orange County, a municipality located in Orange County, and/or the <br /> Orange County or Chapel Hill-Carrboro School Board from a landowner may, at the election of the <br /> landowner, be credited against the public school impact fee due if the conveyance or construction <br /> meets the same needs as the public school impact fee in providing new public school facilities. If <br /> the landowner elects to receive credit against the amount of the public school impact fee due for <br /> such conveyance or construction,the landowner shall, prior to the agreement to convey land for or <br /> construct new public school facilities, or the conveyance of land for or construction of new school <br /> facilities, enter into a fee agreement with the County. The fee agreement shall provide for the <br /> establishment of credits and payment of the fee in a specified manner and time, and shall, upon its <br /> execution by the landowner and the County, be binding upon the heirs and assigns of the <br /> landowner. <br /> The value of land conveyed or facilities constructed by a landowenr and accepted by the <br /> County, municipality or school board for purposes of this section shall be determined by an <br /> appraisal based on the fair market value of the land or facilities as established by the County. <br /> Construction shall be in accordance with applicable County, municipal, school board, and State <br /> standards. Any land conveyed for credit under this section shall be conveyed no later than the time <br /> at which public school impact fees are required to be paid. The portion of the public school impact <br /> 6 Revised February 26, 1996. <br /> Impact Fee Ordinance 6 <br />