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January 5, 2010 (Work Session)
<br />Page 17 61
<br />Amount for VMP
<br />based on Index
<br />Adjustment to Amount for
<br />October of 2009 Amount for VMP based on
<br />(Year 3 after VMP based of 60.572
<br />original study Amount for VMP Amount for Amount for on 50~ (CURRENT
<br />using October Cost based on 65~ (prior VMP based on VMP based on (prior ADOPTED
<br />Multiplier) policy) 60~ 55~ policy) POLICY)
<br />$12,598.95 $8,189.32 $7,559.37 $6,929.42 $6,299.48 $7,631.44
<br />$6,682.26 $4,343.47 $4,009.36 $3,675.24 $3,391.13 $9,047.58
<br />$6,071.83 $3,946.69 $3,643.10 $3,339.51 $3,035.92 $3,677.83
<br /> Amount for
<br /> VMP based
<br /> on Index
<br /> Adjustment
<br /> to October
<br /> of 2007 Amount
<br /> (Year 1 for VMP
<br /> Comparative after based on
<br /> Original Cost original 659
<br /> Amount from Multiplier study using policy
<br /> TischlerBise (October Correcting October Cost (ADOPTED
<br />Type of Unit Study 2006) Factor Multiplier Multiplier) AMOUNT)
<br />Single Family Detached 512,925.00 1.063 1.009 1.067 $13,257.96 $8,617.36
<br />Town home $6,590.00 1.063 1.009 1.067 $7,031.53 $4,570.49
<br />Multi-Family/Other $5,968.00 1.063 1.009 1.067 $6,389.20 $4,152.98
<br />Table 2-APF VMP Adiuetment M2 (January 20091
<br /> Amount for
<br /> VMP based
<br /> on Index
<br /> Adjustment
<br /> to October
<br /> of 2008
<br /> (Year 2
<br /> after Amount
<br /> Comparative original £or VMP
<br /> Original Cost study using Amount for Amount Amount Amount based on
<br /> Amount from Multiplier October VMP based for VMP for VMP for VMP 60.5729
<br /> TischlerBise (October Correcting Cost on CURRENT based on based on based on (ADOPTED
<br />Type of Unit Study 2006) Factor Multiplier Multiplier) 658 policy 608 558 508 AMOUNT)
<br />Single
<br />Family
<br />Detached $12,925.00 1.131 1.012 1.195 $14,226.63 $9,247.31 $8,535.98 $7,824.69 $7,113.31 $8,617.35
<br />Town home $6,590.00 1.131 1.012 1.145 $7,545.55 $4,904.61 $9,527.33 $9,150.05 $3,772.78 $9,570.99
<br />Multi-
<br />Family/Other $5,988.00 1.131 1.012 1.145 $6,856.26 $4,456.57 $9,113.76 $3,770.94 $3,928.13 $4,152.97
<br />Tahlo 7-LPF VMP Lrli natmnnt Ma (.Tannarv 2n101
<br /> Amount for
<br /> VMP based on
<br /> Index
<br /> Adjustment to Amount
<br /> October of for VMP
<br /> 2009 (Year 3 based on
<br /> Comparative after of
<br /> Original Cost original Amount Amount 60.5728
<br /> Amount from Multiplier study using for VMP Amount for Amount for for VMP (CURRENT
<br /> TischlerBise (October Correcting October Cost based on VMP based VMP based based on ADOPTED
<br />Type of Unit Study 2006) Factor Multiplier Multiplier) 658 on 608 on 558 508 POLICY)
<br />Single
<br />Family
<br />Detached $12,925.00 1.019 1.00 1.014 $12,598.95 $8,189.32 $7,559.37 $6,929.92 $6,299.48 $7,631.49
<br />Town home $6,590.00 1.019 1.00 1.019 $6,682.26 $4,343.47 $9,009.36 $3,675.29 $3,341.13 $9,047.58
<br />Multi-
<br />Family/Other $5,988.00 1.019 1.00 1.019 $6,071.83 $3,946.69 $3,643.10 $3,339.51 $3,035.92 $3,677.83
<br />Ms. Morris advised, this year, based on the Marshall and Swift
<br />valuation service, the VMP is scheduled to decrease if the Board chooses to
<br />stay at the same amount. She illustrated information from Table 3 and noted
<br />if the Board decided to stay at the 60.572 percent, which is the current
<br />adopted policy, the amount will be $7,631.00 for a single family home. She
<br />stated initially the contribution was 50 percent, then it increased to 65
<br />percent; and last year was reduced to 60.572 percent.
<br />Ms. Morris responded to questions from the Board whether a policy (of
<br />any percent) can be set and revisited throughout the year. She advised
<br />Richard Koch, County Attorney, is available to address the matter.
<br />Mr. Koch advised the Ordinance specifies the policy is required to be
<br />set annually in January and does not prohibit revisions during the year.
<br />Chairman White highlighted information to be discussed at the retreat
<br />relating to the Voluntary Mitigation Payment (VMP) and the APFO (Adequate
<br />
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