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3) • • • in time, such as for a period of 12 months, so that the TIF payment would be due at the time of C.O. or at 12 months after building permit issuance, whichever occurs first. For TIF accounting purposes, such loan arrangements would be treated as financial obligations with a specific date due. • Coordinating With the Municipalities The County and City of Vero Beach share the same building department and the same TIF payment and concurrency and certificate system. County staff administrates that system. Currently, the other municipalities collect TIF payments at the time they issue building permits and the County collects TIFs from them once a week. These municipalities issue their own C.O.s . Because each jurisdiction collects TIFs and issues C.O.s, and because each jurisdiction would be responsible for guaranteeing TIF payments to reserve capacity, each municipality will need to consider any proposed changes to the timing and procedures for TIF payments. In order for the process to remain uniform county -wide all of the municipalities would need to agree to the same set of changes. Staff has contacted Fellsmere and Sebastian staff regarding potential changes. Fellsmere staff indicated no interest in changing current procedures Sebastian staff indicated that its City Council would need to consider in detail any such changes and would like to have the criteria for who would quality, as well as the process we plan to use. Thus, at this time it appears that it may not be possible to obtain concurrence of all the municipalities for a uniform county -wide change to delay TIF payments. Based upon the direction given at the August 13`h Board meeting, staff is continuing to devise a system for a TIF payment delay and coordinate with the municipalities. We need further guidance from the Board of County Commissioners in order to proceed. ATTACHMENTS: None Assistant Administrator Baird asked for additional guidance from the Commissioners in this matter. He explained how the Board's request for a quick way to proceed was delayed. City Manager Terrence Moore of Sebastian had some very good questions and wanted the complete criteria so he could take it to his City Council. John Little in Fellsmere was not receptive to the change because he thought it should be an LDR amendment and was also concerned about thinly -capitalized businesses. Assistant Administrator Baird suggested the loans be available for non-residential projects under $50,000 for a 12 -month maximum with the applicant's signature on a bridge - type loan agreement which would probably be unsecured. There could be language that the County could lien the property if not paid within the 12 -month period. If Fellsmere is September 3, 2002 sG 103 r1!! L1 ti r ., • 1 i J 3 ,