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KAR 0 �q <br />Poria 6 F',',iE <br />; <br />Chairman Eggert stated she -would appreciate having it worded <br />to recognize that. <br />Commissioner Scurlock was convinced about the 3 -tier policy, <br />but wouldn't be opposed to putting some language in there that <br />would recognize that we have some problems out there. <br />Chairman Eggert raised the point about whether we would turn <br />down a major industry in a situation where they could not handle <br />all the impact fees in 5 years but could in 10 years. <br />Commissioner Wheeler suggested that in such cases the <br />developers phase in their units. He believed we have a <br />responsibility to provide some financing relief for County -built <br />projects and existing homes, but didn't feel we have a <br />responsibility to provide financing of impact fees for industry or <br />new developments. He didn't want to see the County getting into <br />the savings and loan business, because if something goes wrong, we <br />would end up taking over a development or business and the <br />taxpayers would have to bale it out. He believed that if a person <br />or corporation wants to open a business, they should have <br />sufficient capital to build and pay for water and sewer impact <br />fees. <br />MOTION WAS MADE by Commissioner Scurlock, SECONDED by <br />Commissioner Bowman, that the Board approve staff's <br />recommendation as presented with the understanding that <br />we will have some flexibility when we are addressing <br />special projects like affordable housing. <br />Under discussion, Commissioner Bowman felt there should be <br />other funds or grants available to finance utility impact fees for <br />low cost housing, but Chairman Eggert advised that there isn't. <br />Director Baird cautioned that the County isn't immune to the <br />effects of these poor economical times. There is some risk in this <br />plan, and he believed that you only can take on so much risk with <br />the public's money. <br />Director Baird explained that the reason banks are being so <br />hard on development now is that in the past they did not have to <br />have as much equity, and some banks failed when those developments <br />failed. Banks now are requiring equity of 25%-35%. If we loaned <br />them money, that is not equity, that is another loan situation. <br />They still wouldn't get their loan because we would be another <br />liability, not a personal cash equity. <br />Commissioner Wheeler emphasized that the County doesn't want <br />to get into a position where the taxpayers have to bale out the - <br />County's debt like they baled out the S&Ls in this country. He <br />32 <br />