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(2 ) The fee shall be based on the cost of purchasing flan agricultural <br /> land conservation easement( s ) on land of comparable size and agricultural <br /> quality , plus the estimated cyst of legal , appraisal and other costs , <br /> including staff time , to acquire and manage the faftnIandagricultural land <br /> conservation easement or other agfietiltufal mifiga4ie ipreservation <br /> instrument . <br /> ( 3 ) The Board of Supervisors shall approve by resolution the amount and <br /> other terms of the in- lieu fee . <br /> (4 ) The in- lieu fee shall be reviewed every two (2 ) years by the Agricultural <br /> Technical Advisory Committee to confirm that the fee reflects the costs <br /> considered in ( e) (2 ) of this Section . Based on its review, the Agricultural <br /> Technical Advisory Committee mgy recommend an adjustment to the in- <br /> lieu fee to the Board of Supervisors . based on an <br /> inflatef tha4 takes into aeeettnt the inflation of pfopefty valties and should. <br /> eest eampenents shall be updaled annually based en the Consumer Pfi <br /> ( 5 ) Within sixty ( 60 ) days after collection by the County , in- lieu fees shall <br /> hebe transferred to a fund administered by thea Qualifying Entity . <br /> ( 6 ) The in- lieu fees shall be administered by an approved Qualifying Entity in <br /> fulfillment of its programmatic responsibilities . These responsibilities <br /> cover , without exception , acquiring interests in land and administering, <br /> monitoring , and enforcingthe agricultural land conservation easement or <br /> other preservation instrument designed to preserve the agricultural values <br /> of the land for agricultural land mitigation purposes . <br /> (67 ) The Agricultural Technical Advisory Committee shall prepare and present <br /> a aimttal report desefibe i � pursuant to Section 9 - 1080 . 9 (b) , ever ,, f�( 5 ) <br /> years , or as the Agricultural Technical Advisory Committee deems <br /> necessary , thatshn44 describes the effectiveness of the use of in- lieu fees as <br /> provided for in this Chapter . � s or'' i 'l• '� � �en � <br /> maifitain, amend , of femove the in lieu fee r-equifemettA, of the efdina-nee <br /> and to replaee it with an in kind only fequifement . <br /> Mitigation Bank. Participation in a Mitigation Bank approved by the <br /> - 5 - <br />