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ON MOTION by Commissioner Eggert, SECONDED by <br />Commissioner Bird, the Board, by a vote of 4-1 <br />(Chairman Adams opposed) directed staff to establish <br />a program, to guarantee payment of utility deposits <br />for 'creditworthy industrial and target industry <br />-businesses, as set out,in staff's recommendation. <br />CONSIDERATION OF TAX ABATEMENT PROGRAM <br />Withdrawn. <br />FINANCING TRAFFIC EMPACT FEES <br />Community Development Director Bob Keating reviewed a <br />Memorandum of April 8, 1996: <br />TO: James E. Chandler <br />County Administrator <br />DE TMENT HEAD CONCURRENCE <br />Robert k. Keating, Al <br />THROUGH: Sasan Rohani, AICP S'. , <br />Chief, Long -Range Planning <br />FROM: Douglas A. Kangur X <br />Economic Development Planner <br />DATE: April 8, 1996 <br />SUBJECT: FINANCING TRAFFIC IMPACT FEES (TIF's) <br />It is requested that the information herein presented be given formal consideration by the Board <br />of County Commissioners at their regular meeting of April 23, 1996. <br />DESCRIPTION & CONDITIONS: <br />At its economic development workshop on May 18, 1995, the Board of County Commissioners <br />directed staff to initiate various economic development activities. Among those activities was <br />establishment of a process to finance traffic impact fees over a five to ten year period. In <br />accordance with the Board's direction, planning staff coordinated with both the Budget Office <br />and Public Works Department. Based upon the County Utility Department's impact fee financing <br />procedure, staff developed a proposed traffic impact fee financing mechanism. <br />On March 26, 1996, the Economic Development Council -reviewed staff's report and unanimously <br />recommended that the Board of County Commissioners approve the proposed traffic impact -fee <br />financing procedure. <br />39 <br />April 23, 1996 BooK 97 FAGE' 893 <br />