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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: 7/21/2011 <br />Re: Adequate Public Facilities Voluntary Mitigation Payment Adjustment for Schools <br />Pursuant to the Cabarrus County Zoning Ordinance Section 15 -9.7, "Mitigation measures that involve <br />the payment of money to the County or School District to defray the per -unit impacts of school facilities <br />must be based on calculated capital costs associated with new construction. The capital costs shall be <br />re- assessed every five years. The Board of Commissioners shall adopt the minimum mitigation amount <br />based upon that calculation and the annual rate of inflation. The Marshall and Swift valuation service <br />shall be the index used to calculate the rate of inflation. The minimum amount of the Voluntary <br />Mitigation Payment shall be adjusted and the new amount shall be effective January 1 of each year." <br />Consequently, Staff is providing the Board of Commissioners with the following information based on <br />the requirements of the Zoning Ordinance. <br />Performing the required calculations for the adjustment, it shows that an increase is called for based <br />on the Comparative Cost Multipliers for Type A construction (fireproofed steel frame) in the Charlotte <br />NC area. <br />Based on the information requested by the Board of Commissioners for the Adequate Public Facilities <br />Voluntary Mitigation Payment adjustment in 2010, Staff is providing the following amounts to the Board <br />of Commissioners for consideration for calendar year 2011. <br />Attachment number 1 <br />F -1 Page 90 <br />Amount for <br />VMP based on <br />Index <br />Amou nt <br />Adjustment to <br />for VMP <br />Original <br />October of 2010 <br />based on <br />Amount <br />(Year4 after <br />Amount <br />Amount <br />Amount <br />60.572% <br />from <br />original study <br />Amount for <br />for VMP <br />for VMP <br />for VMP <br />(CURRENT <br />TischlerBise <br />using October <br />VMP based <br />based on <br />based on <br />based on <br />ADOPTED <br />Type of Unit <br />Study <br />Cost Multiplier) <br />on 65% <br />60% <br />55% <br />50% <br />POLICY) <br />Single Family <br />Detached <br />$12,425.00 <br />$13,394.15 <br />$8,706.20 <br />$8,036.49 <br />$7,366.78 <br />$6,697.08 <br />$8,113.10 <br />Town home <br />$6,590.00 <br />$7,104.02 <br />$4,617.61 <br />$4,262.41 <br />$3,907.21 <br />$3,552.01 <br />$4,303.05 <br />Multi - <br />Family /Other <br />$5,988.00 <br />$6,455.06 <br />$4,195.79 <br />$3,873.04 <br />$3,550.29 <br />$3,227.53 <br />$3,909.96 <br />Attachment number 1 <br />F -1 Page 90 <br />