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<br />Development Regulation Act, Section 163.316 et seq., Florida Statutes (1987). <br /> <br />Credit means the present value of past provisions made by new developments for the cost of <br /> <br />existing or future capital improvements. <br /> <br /> <br />Development Activity, Development or Activity means any activity for which a Building <br /> <br /> <br />Permit is required pursuant to the South Florida Building Code or any applicable City Ordinance. <br /> <br /> <br />Development of Regional Impact means any Development which because of its character, <br /> <br />magnitude or location would have a substantial impact on the health, safety or welfare of the citizens <br /> <br />of more than one county. <br /> <br />Encumbered means monies committed by contract or purchase order in a manner that <br /> <br />obligated the City of Sunny Isles Beach to expend the funded amount upon delivery of goods, the <br /> <br />rendering of services or the conveyance of real property provided by a vendor, supplier, contractor <br /> <br />or owner. <br /> <br />Existing Development means the lawful land use physically existing as of the effective date <br /> <br /> <br />of this Ordinance and any Development or additional Development for which the landowner holds <br /> <br /> <br />a valid Building Permit as of the effective date of this Ordinance. Existing Development shall also <br /> <br /> <br />include that maximum level of Development Activity for which a previous impact fee was paid under <br /> <br /> <br />the provisions ofthis Ordinance. <br /> <br /> <br />Feepayer means a person intending to commence a proposed Development for which an <br /> <br /> <br />impact fee computation is required under this Ordinance, or a person who has paid an impact fee, or <br /> <br />provided a letter of credit pursuant to this Ordinance. <br /> <br /> <br />Impact Fee means the proportionate fair share charge required to be paid in accordance with <br /> <br /> <br />this Ordinance. <br /> <br />-3- <br />