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Memo <br />To: Cabarrus County Board of Commissioners <br />From: Susie Morris, Planning and Zoning Manager <br />CC: File <br />Date: 12/13/2011 <br />Re: Adequate Public Facilities Voluntary Mitigation Payment Adjustment for Schools <br />Pursuant to the Cabarrus County Zoning Ordinance Chapter 15, Section 15 -9.7, "Mitigation measures that involve the <br />payment of money to the County or School District to defray the per -unit impacts of school facilities must be based on <br />calculated capital costs associated with new construction. The capital costs shall be re- assessed every five years. The <br />Board of Commissioners shall adopt the minimum mitigation amount based upon that calculation and the annual rate of <br />inflation. The Marshall and Swift valuation service shall be the index used to calculate the rate of inflation. The minimum <br />amount of the Voluntary Mitigation Payment shall be adjusted and the new amount shall be effective January 1 of each <br />year." Consequently, Staff is providing the Board of Commissioners with the following information based on the <br />requirements of the Zoning Ordinance. <br />Performing the required calculations for the adjustment, it shows that an increase is called for based on the <br />Comparative Cost Multipliers for Type A construction (fireproofed steel frame) in the Charlotte NC area. <br />A summary table showing adjustments that have been made to the APF VMP is attached. <br />Based on the information requested by the Board of Commissioners for the Adequate Public Facilities Voluntary <br />Mitigation Payment adjustment in 2009, Staff is providing the following amounts to the Board of Commissioners for <br />consideration for calendar year 2012. <br />Attachment number 1 <br />F -6 Page 171 <br />Amount for <br />VMP based <br />on Index <br />Adjustment <br />to October of <br />Original <br />2011 (Year 5 <br />Amount <br />after original <br />Amount <br />Amount <br />Amount <br />from <br />study using <br />for VMP <br />for VMP <br />for VMP <br />Amount for <br />Amount for VMP based <br />TischlerBise <br />October Cost <br />based on <br />based on <br />based on <br />VMP based <br />on 60.572% (CURRENT <br />Type of Unit <br />Study <br />Multiplier) <br />65% <br />60% <br />55% <br />on 50% <br />ADOPTED POLICY) <br />Single Family <br />Detached <br />$12,425.00 <br />$13,605.38 <br />$8,843.49 <br />$8,163.23 <br />$7,482.96 <br />$6,802.69 <br />$8,241.05 <br />Town home <br />$6,590.00 <br />$7,216.05 <br />$4,690.43 <br />$4,329.63 <br />$3,968.83 <br />$3,608.03 <br />$4,370.91 <br />Multi - <br />Family /Other <br />$5,988.00 <br />$6,556.86 <br />$4,261.96 <br />$3,934.12 <br />$3,606.27 <br />$3,278.43 <br />$3,971.62 <br />Attachment number 1 <br />F -6 Page 171 <br />