AG 1999 06 21 - Laserfiche WebLink

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Agenda Sune 21, 1999 Page 9 Alternative Funding Aporoaches · Adequate Public Facilities Ordinance (APFO) (Capacity offsets by developers) Under staff development and soon to begin public review by the Board is an updated version of the County's APFO. While the APFO does not specifically require contributions fi.Om new development, Board policy has been to consider developer contributions to adequacy in impacted areas as a factor in approving new subdivisions. The contributions have been in the range of $500/dwelling unit created by a new subdivision of land (excluding areas within the cities). It is likely that some final form of the APFO will offer a refined approach to these policies with modifications designed to further define adequacy, how it is detemfined and applied. At the current rate of $500/dwelling unit, the amount of new revenue produced will generate only enough to offset the basic cost of acquiring new school sites at a rate tied to the approval of new subdivisions. [THE OPTIONS THAT FOLLOW REQUIRE OR MAY REQUIRE N. C. LEGISLATIVE ACTION.] · Local Option Sales Tax Increase This issue has been pursued by N. C. Counties for several years. While the legislature may someday authorize an expansion of the local sales tax, near-term consideration is unlikely. The legislature did authorize and voters approved a ½ cent sales tax hike for transportation in Mecklenburg County in 1998. Under legislature since revoked, voters of Cabarrus County rejected a local sales tax of one-cent tied to new school construction also voted on in 1998. · Land Transfer Tax (Fee) This option is available to some counties but not likely an option for counties not already authorized to levy the tax. The real estate industry heavily opposes this concept and played a key role in the defeat of this option in Cabarrus County in 1998. 9 - 5--5