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12/09/2014 (2)
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12/09/2014 (2)
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4/4/2018 4:04:06 PM
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12/19/2016 11:16:42 AM
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Meetings
Meeting Type
BCC Regular Meeting
Document Type
Agenda Packet
Meeting Date
12/09/2014
Meeting Body
Board of County Commissioners
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B. The modification of impact fee requirements, <br />including reduction or waiver of fees and <br />alternative methods of fee payment for affordable <br />housing. <br />Impact fees and utility capacity charges are one time charges applied towards new <br />construction to generate the revenues necessary to make capacity producing capital <br />improvements. Overall, these impact fees and utility capacity charges increase the cost of <br />housing. Legally, impact fees must be applied to all activities that create a demand for <br />capital facilities. Consequently, impact fees cannot be waived or reduced without being <br />subsidized from another revenue source for a justifiable reason. Consequently, there are <br />methods of fee payment to assist income eligible persons with the cost of impact fees and <br />/or utility capacity charges. <br />Currently, Indian River County provides SHIP program loans and grants of up to <br />$20,000.00 per unit to income eligible households for the cost of impact fees and utility <br />capacity charges for new units. The county also provides SHIP loans and grants for <br />existing units to connect to the county regional water and wastewater system. To obtain <br />SHIP impact fee funds, applicants must execute loan or grant agreements with the <br />county, indicating that they will comply with the county's Local Housing Assistance <br />Program's requirements. Those loans or grants are limited to income eligible households <br />in the Very low Income (VLI) (not to exceed 50% of the county's median income), Low <br />Income (LI) (51-80% of county's median income), and moderate income (MI) (between <br />81-120% of the county's median income) categories. <br />Besides providing impact fee loans and grants, the county also provides financing of <br />water and sewer capacity charges for new units and existing units connecting to the <br />county regional system. The following policies from the Housing Element of the <br />Comprehensive Plan provide for financial assistance for payment of impact fees and <br />connection charges for affordable housing units. <br />POLICY 4.3: The county shall maintain its current policy of financing water and sewer capacity <br />charges for newly constructed housing units. <br />POLICY 4.4: The County shall maintain its Housing Trust Fund which provides below-market interest <br />rate financing and/or grants for land acquisition, downpayment/closing cost loans, impact fee%apacity <br />charges payment loans, and rehabilitation loans for affordable housing units in the county. The fund <br />will also assist non-profit facilitators with pre -development expenses associated with very low, low, and <br />moderate income housing development. Some disbursements from the Housing Trust Fund will be <br />grants, but the majority of funds will be revolving loans, with borrowers paying back principal and <br />applicable interest into the trust, therefore ensuring a permanent source of financing. <br />ANALYSIS: <br />Impact fees and utility capacity charges are needed to provide revenue for constructing <br />capacity producing capital improvements necessary to accommodate growth. Overall, <br />impact fee revenue partially funds construction of major roadways, libraries, schools, <br />parks, correctional facilities, fire/ems facilities, law enforcement facilities, solid waste <br />F:\Community Development\SHIP\AHAC\AHAC 2014\AHAC 2014 report.doc <br />7 <br />52 <br />
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