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BOOK 90 PAGE 4 , There are other resort developers with more experience in resort development than Disney and, in a totally residential setting, could offer all the advantages of Disney with none of the commercial zoning disadvantages i.e. hotels, motels and the commercial atmosphere. This kind of residential resort development would help existing projects and home owners find buyers with the traffic from the resort visitors. It is, also, non competing as well as being an economic boost to the community. The existing LDR has all the safeguards necessary to assure a compatible, high quality project. Before we throw resorts off the Barrier Island and out of the County, let's remember that one of your commissioners stated that Disney was the greatest economic boom to Indian River County in recent history. Also staff has recommended that the resort LDR not be changed. Let's look at some of the "county wide" advantages. ADVANTAGES OF RESORT IN INDIAN RIVER COUNTY 1. EMPLOYMENT: Substantial year round employment will be required to run a resort. Disney estimates 300+ permanent employees, year round upon completion. 2. WINDFALL TAX REVENUES: A large increase in tax revenue with no impact on schools from the weekly visitor. This tax revenue will also ripple thru the community as it improves commercial activity as well as improving home sales from employees and visitors. 3. LOWER TRAFFIC IMPACT: No more residential units will be built for a resort than for a conventional residential development. A resort will include on site amenities and facilities to reduce off site travel as compared to a standard residential project. Further the off site travel has no peak hour and should not be disproportional at the business rush hours and, thus, less impact. 4. ECONOMIC VIABILITY: In Disney's case, as with other resort developers, the company behind the project needs to have the economic strength to see the project to completion without the help of any or little outside financing. Too many developers, who try to conventionally develop in Indian River County, go bankrupt due largely to the slow absorption rate and high development cost. A resort will have a spill over effect to help the sales of conventional, residential.developments and they are non competing. Of the proposed changes, the one that eliminates other resorts on the Barrier Island is the following: VOTE NO REQUIREMENT TO BE ATTACHED TO A COMMERCIALLY ZONED PROPERTY The main disadvantage to the Disney project is the hotel/ motel look and the class of people that the residents don't like. This "look" and to some extent the, supposedly, lower`class of people is only possible because their oceanfront is zoned commercial. Other resort projects, that do not have commercial property, will be completely residential in character and should not appear any different than Sea Oaks, Marbrisa or John's Island from the road or surrounding properties. In any development we take our chances with the class of people and that should not be an issue. Also resort developers prefer not being associated with a commercial property, unless it can offer a hotel option, and this is -no longer available on the beach or in an acceptable location in the county. The only reason to require the Resort status be linked to commercial was to eliminate any further resorts in Indian River County. Resort -developers (in an all -residential zoning) will NOT INCREASE DENSITY, ARE BETTER BUFFERED and are COMPLETELY RESIDENTIAL IN NATURE. The only difference is a shorter term stay and more on site amenities. There is no commercial buffer need that can be supported. The compatibility with other residential developments should be controlled by the county standards and the residential nature of the project. The only properties on the mainland that meet the commercial and RM -6 criteria are unlikely to ever be suitable for a resort. 6