Economic Incentive Plan

Board of County Commissioners

Public HearingMarch 6, 2012

• Purpose• 2011 Economic Incentive Plan• Change of Use• Proposed Ordinance • Requested Action

Presentation Outline

• Public Hearing for Amendments to the 2011 Economic Incentive Plan Ordinance

• Worksession – February 7, 2012

Purpose

2011 Economic Incentive Plan

Summary• Continuation of 2009 Incentives• Extended building permits • Waived increased impact fees

for certain changes of use • Extended concurrency

encumbrances and reservations• Suspended Impact Fee Indexing

2011 Economic Incentive Plan

Ordinance Provisions• Extended Building Permits (6 months to

one year)• Suspended Automatic Impact Fee

Indexing until fees are updated– Fire 3.5%– Law 2.5%– Parks 7.4%– Road 3.0%

2011 Economic Incentive Plan

Ordinance Provisions (cont.)• Capacity Encumbrance Letters

Extended for one year (from 180 days)

• Capacity Reservation Certificates Extended for 5 years (from 3 years) Allowed for incremental payments

over extended period of time

2011 Economic Incentive Plan

Ordinance Provisions (cont.)• Waived Increased Impact Fees for

Changes in Use Existing Buildings Same Building Footprint Located in Urban Service Area (USA) Required to be consistent with

Comprehensive Plan and Existing Zoning

• Provisions expire on March 31, 2012

Change of Use

Overview• Utilized by over 90 projects since 2009• Wide range of businesses• Waived $2.4M Impact Fees

2.3M Transportation Impact Fees $49,000 Fire Rescue Impact Fees $42,800 Law Enforcement Impact

Fees

Change of Use

Overview (cont.)• Majority of waivers under $100,000• One Outlier

Warehouse to Retail 62,898 Square Feet Waived Transportation Impact Fee o $646,000

Change of Use

Overview (cont.)• Option

Cap Transportation Impact Fee Waiver at $100,000 per project

Amend Page 7, Line 264: Add after road impact fee “in an amount

up to, but not exceeding, One Hundred Thousand Dollars ($100,000).”

Proposed Ordinance

• Extends provisions until March 31, 2013 Waives increases for impact fees for

change of use Extension of concurrency encumbrances

and reservations• Extension of building permits part of

Chapter 9 Amendments• Impact Fee Indexing cancelled with 2011

Amendments

Requested Action

Make a finding of Consistency with the Comprehensive Plan and approve the Economic Incentive Ordinance. ALL DISTRICTS

Note: LPA made a finding of consistency on February 16, 2012

Requested Action

Proposed Amendment -Amend Page 7, Line 264:Add after road impact fee “in an amount up to, but not exceeding, One Hundred thousand Dollars ($100,000).”

Economic Incentive Plan

Board of County Commissioners

Public HearingMarch 6, 2012