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August 16, 2004 Page 607 ~¡:":¡,¡¡ t"'r~'" :'.:;,¡ .J. 12 a Option No.3: Pay-as-you Go through Adequate Facility Fee of $8,000 indexed by a 3.5 percent increase annually projected a shortfall beginning in FY 2011/12. Also, each funding option included a projection as to the estimated amount of tax savings each year on a $150,000.00 home. Commissioner Privette proposed a $1,000.00 fee on a home costing $100,000.00 with an increase of $1,000.00 for every increment of $100,000.00 up to $1 million, or a fee of $10,000.00 for a $1 million home. He further proposed the exemption of Habitat homes and possibly homes for persons age 65 or older. ' There was discussion regarding a number of issues associated with the advancement of school adequacy, including enforcement within municipalities, the minimum value of the advancement requirement, multi-family homes, affordable housing, and the exemption for purchasers of Habitat homes and the elderly. vice Chairman Suggs stated concerns about the legality of the advancement requirement and stated a higher fee would have a negative impact on the building industry and the economy of Cabarrus County. Mr. Day stated the issue of graduated fees and exemptions would be investigated. He said the impact of a house is the same regardless of its price and suggested it may be possible to create a fund that would' pay the adequacy requirement for Habitat homes and/or senior citizens. , UPON MOTION of Commissioner Privette, seconded by Commissioner Carpenter, with Chairman Freeman, Commissioner Carpenter, Commissioner Carruth and Commissioner Privette voting for and Vice Chairman Suggs voting against, the Board adopted the following Resolution: Resolution No. 2004-30 Resolution to Create a Policy ,for the Advancement of School Adequacy WHEREAS, the Cabarrus County Board of Commissioners has demonstrated that education is its top priority through the funding of construction of nine elementary schools, four middle schools, one high school and numerous additions and improvements to existing schools over the last fifteen years; and WHEREAS, the development and homebuilding industries are. an important part of the local economy; and WHEREAS, a study by Tischler and Associates for Cabarrus County in 1996 found that the direct school capital cost incurred by the County is $8067 per unit for houses in transitional areas; and . WHEREAS, new homes constructed in these developments will be subject property taxes which in part will offset the incurred capital cost; and WHEREAS, new development continues to be approved within the unincorporated areas of Cabarrus County after a review of the adequacy of services based on the Cabarrus County, Subdivision Regulations Chapter 4, Section 17 "Adequate ~ublic Facilities Standards"; and WHEREAS, the Board of Commissioners is' interested in approving development that participates in the advancement of school adequacy; and WHEREAS, the Board of Commissioners would like for all new residential development in both the incorporated and unincorporated areas of Cabarrus County to be reviewed for school adequacy. NOW THEREFORE BE IT RESOLVED, by the Board of Commissioners of Cabar=s County that the following policy is established to address school adequacy when reviewing new residential development: . All new residential developments that require plan approval by the Cabarrus County Planning" Zoning Commission shall be reviewed for the adequacy of public services and facilities including school facilities. This review shall include existing school capacity as well as the additional capacity of schools under construction or for which funding of construction has been approved. In addition, the review shall include the ,existing enrollment and estimated enrollment based on previously-approved development. School adequacy shall be defined as that estimated enrollment not exceeding 110% of capacity as determined by the Kannapolis and Cabarrus School Systems. A ¥ I .1 to new