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AG 2008 01 22
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AG 2008 01 22
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Last modified
8/6/2009 10:42:20 AM
Creation date
11/27/2017 11:27:47 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
1/16/2008
Board
Board of Commissioners
Meeting Type
Regular
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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: 1/9/2008 <br />Re: Adequate Public Facilities Voluntary Mitigation Payment Adjustment for Schools <br />Pursuant to the Cabamas County Zoning Ordinance Section 15-11, "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 <br />be based on calculated capital costs associated with new construction. The capital costs shall be re- <br />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 Mitigation <br />Payment shall be adopted at the regular meeting in January of each year." Consequently, Staff is <br />providing the Board of Commissioners with the following information based on the requirements of the <br />Zoning Ordinance. <br />Performing the required calculations for the adjustment, it shows that an increase is called for based on <br />the Comparative Cost Multipliers for Type A construction (fireproofed steel frame) in the Charlotte NC <br />area. Over the last year, the cost of building materials overall has increased (6.3%), thus causing an <br />increase in the amount of money needed to fund new construction or to replace current construction. <br />The proposed adjusted amounts to be adopted by the Board of Commissioners for the Voluntary <br />Mitigation Payment are as follows: <br />Type of Unit Current Total Current Adjusted 55% of the Proposed <br /> Amount of Amount for Amount for Adjusted Amount to be <br /> Voluntary Voluntary Voluntary Amount for Adopted <br /> Mitigation Mitigation Mitigation Voluntary Based on <br /> Payment Payment Payment for Mitigation Commissioner <br /> Based on Year 2008' Payment for Policy of 85% <br /> Commissioner Year 2008 <br /> Pobic of 85% <br />Single Family <br />Detached $12,425.00 $8,076.00 $13,257.48 $8,617.36 $8,617.00 <br />Townhouse $6,590.00 $4,283.00 $7,031.53 $4,570.49 $4,571.00 <br />Multi-Famil /Other $5,998.00 $3,892.00 $6,389.20 $4,152.98 $4,153.00 <br />* Comparative Cost Multipliers for October 2006 based on <br />Marshall and Swift Valuation of 1.063 for Charlotte NC and <br />a correction factor of 1.004 as listed for December 2007. <br />C~ ~ y <br />
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