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r <br />i~ <br />Memo <br />To: Cabarrus County Board of Commissioners <br />From: Susie Morris, Planning and Zoning Manager <br />CC: <br />D File <br />2/9/2009 <br />ate: <br />Re: Adequate Public Facilities Voluntary Mitigation Payment Adjustment for Schools <br /> <br />Pursuant to the Cabarrus County Zoning Ordinance Section 15-9.7, "Mitigation measures that involve the payment of <br />money to the County or School District to defray the per-unit impacts of school facilities must be based on calculated <br />capital costs associated with new construction. The capital costs shall be re-assessed every five years. The Board of <br />Commissioners shall adopt the minimum mitigation amount based upon that calculation and the annual rate of inflation. <br />The Marshall and Swift valuation service shall be the index used to calculate the rate of inflation. The minimum amount <br />of the Voluntary 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 the requirements of <br />the Zoning Ordinance. <br />Performing the required calculations for the adjustment, it shows that an increase in the Voluntary Mitigation Payment is <br />called for based on the Comparative Cost Multipliers for Type A construction (fireproofed steel frame) in the Charlotte <br />NC area. The proposed adjusted amounts to be adopted by the Board of Commissioners for the Voluntary Mitigation <br />Payment are as follows: <br /> Amount for <br /> VMP based <br /> on Index <br /> Adjustment <br /> to October of Amount Amount <br /> Original Comparative 2008 (Year 2 for VMP for VMP <br /> Amount Cost offer original based on based on <br /> from Current Multiplier study using current proposed <br /> TischlerBise Adopted (October Correcting October 2006 65°~ 60.572% <br />Type of Unit Study VMP 2006) Factor Multiplier as base) Policy Policy <br />Single Family <br />Detached $12,425.00 $8,617.00 1.131 1.012 1.145 $14,226.63 $9,247.31 $8,617.00 <br />Town home $6,590.00 $4,571.00 1.131 1.012 1.145 $7,545.55 $4,904.61 $4,571.00 <br />Multi- <br />Family/Other $5,988.00 $4,153.00 1.131 1.012 1.145 $6,856.26 $4,456.57 $4,153.00 <br />These amounts would be applicable to all projects seeking Reservation of Capacity Certificates submitted during <br />calendar year 2009. <br />C <br />C <br />Staff requests that the Board consider adopting these amounts for the purposes of adjusting the Voluntary Mitigation <br />Payment as called for in the Adequate Public Facilities section of the Zoning Ordinance. <br />Item# 21 <br />Attachment number 2 <br />G _ ~ Page 98 of 133 <br />