HomeMy WebLinkAboutCPA201500002 Presentation 2016-04-21Report of Fiscal
Impact Advisory
Committees
SEPTEMBER 22, 2015
ALBEMARLE COUNTY PLANNING COMMISSION
Direction of the Board of Supervisors to
FIAC and the Planning Commission
1) Analyze possible credits for:
-Development in targeted areas. Targeted areas are those areas shown as
Priority Areas identified in each Master Plan Area.
-Mixed use developments.
-Development supportive of growth management strategies of the
Comprehensive Plan.
2) Provide recommendations on changes to existing credits in the policy,
including the credit that may be provided for by -right units, now available
by policy only in limited circumstances (Policy § C(6) (c)).
3) Update the County's maximum per unit cash proffer amount by
dwelling unit type.
Analyze possible credits.
Credits should be considered independent of the maximum per unit
cash proffer amount.
Evaluation of credits should include consideration of the following:
Promoting development consistent with the growth management
strategies of the Comprehensive Plan and/or recovering cost impacts of
development.
Fiscal impact to the County.
Recommendations on changes to
existing credits.
Credits for existing by -right units should continue.
Update the County I s maximum per unit
cash proffer amount by dwelling unit
type..
The committee found that the new calculated amounts were:
SFD - $4,918 (2014 value was $20,987)
SFA/TH - $3,845 (2014 value was $14,271)
MF - $5,262 (2014 value was $14,871) �
Comments on existing CRIM Model
and Cash Proffer Policy
Has limitations that may prevent the County from capturing the total
impact of new development
Existing cash proffer model, although similar to cash proffer models
currently in use in other jurisdictions around the Commonwealth, is
not a dynamic scoring model.
Does not accurately capture revenue of new development due to
expanded retail sales, commercial development, and
employment.
Possible that lower cash proffer amounts may result in increased
revenue to the County as it lowers the cost of a rezoning and
therefore results in additional rezoning applications.
Additional advice and
recommendations
Revise the policy name to "Proffer Policy to Address Impact to
Public Facilities Resulting from Residential Rezoning."
Further incentivize credits for produced affordable units. Currently
cash payment for affordable housing is provided.
Tie updates the maximum per unit cash proffer amount by dwelling
unit type to the bi-annual adjustment based on the Board's
adoption of the updated 5 year CIP and 10 year CNA.
Consider expanding items considered when calculation the
maximum per unit cash proffer amount the extent permitted.
Additional advice and
recommendations
5) Credits should be offered to incentivize development the County
encourages and especially to encourage the production of affordable
housing.
6) Staff should provide the board with an ongoing accounting of the
net fiscal impact of the approval of new units to the budget at each
meeting for approval of projects.
7) Anecdotal evidence points to increased interest by the
development community in by right residential development.
Planning Commission Action
Review the FIAC report and make your own findings and
recommendations and forward that information to the Board of
Supervisors.