Notwithstanding the requirements and prohibitions of this chapter, a local political subdivision may impose and assess an impact fee for environmental mitigation when:
(1) the local political subdivision has formally agreed to fund a Habitat Conservation Plan to resolve conflicts with the Endangered Species Act of 1973, 16 U.S.C. Sec. 1531, et seq. or other state or federal environmental law or regulation;
(2) the impact fee bears a reasonable relationship to the environmental mitigation required by the Habitat Conservation Plan; and
(3) the legislative body of the local political subdivision adopts an ordinance or resolution:
(a) declaring that an impact fee is required to finance the Habitat Conservation Plan;
(b) establishing periodic sunset dates for the impact fee; and
(c) requiring the legislative body to:
(i) review the impact fee on those sunset dates;
(ii) determine whether or not the impact fee is still required to finance the Habitat Conservation Plan; and
(iii) affirmatively reauthorize the impact fee if the legislative body finds that the impact fee must remain in effect.