15.08.070 Impact Fee Review and Modification.
(1) The City shall, in conjunction with its annual capital budget and capital facilities plan adoption processes, review the development potential of each development area and the capital facilities plan at least once every five (5) years in conjunction with a review the Provo City General Plan and may make such modifications as may be deemed necessary as a result of:
(a) development occurring in prior year(s);
(b) capital improvements actually constructed;
(c) changing public facility needs;
(d) inflation;
(e) revised costs estimates for capital improvements;
(f) changes in the availability of other funding sources applicable to public facility projects; and
(g) such other factors as may be relevant.
(2) An impact fee shall be established or modified by ordinance in accordance with the Impact Fees Act.