3/3/1992 - Laserfiche WebLink

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