Economic Incentive Plan

1. Economic Incentive Plan Board of County Commissioners Public Hearing March 6, 2012

2. Presentation Outline • Purpose • 2011 Economic Incentive Plan • Change of Use • Proposed Ordinance • Requested Action

3. Purpose • Public Hearing for Amendments to the 2011 Economic Incentive Plan Ordinance • Worksession – February 7, 2012

4. 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

5. 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%

6. 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

7. 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

8. 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

9. Change of Use Overview (cont.) • Majority of waivers under $100,000 • One Outlier • Warehouse to Retail • 62,898 Square Feet • Waived Transportation Impact Fee • $646,000

10. 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).”

11. 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

12. 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

13. 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).”

14. Economic Incentive Plan Board of County Commissioners Public Hearing March 6, 2012