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The current development fee structure may be cost prohibitive to kick start job growth and could be depressing tax revenue The Economy has unfortunately.

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Presentation on theme: "The current development fee structure may be cost prohibitive to kick start job growth and could be depressing tax revenue The Economy has unfortunately."— Presentation transcript:

1 The current development fee structure may be cost prohibitive to kick start job growth and could be depressing tax revenue The Economy has unfortunately changed, but fees haven’t Rents Capital access Construction Cost but Fees ??? How do we encourage re- development in older areas or new development in select areas with the current Development Fees

2 Examples- With Development Fees: Work Stops- No rational business can move forward

3 Examples- Without Development Fees Capitalism takes affect, projects move forward creating increased tax revenue and jobs……

4 Taxes Created if Projects Move Forward Big Box Retailer: A moratorium of the $1.2M in fees will create in the first year $1.6M and over a 20 year period $30.3M in tax revenue Grocery Store: A moratorium of the $1.1M in fees will create in the first year $1.5M and over a 20 year period $27.6M in tax revenue Day Care: A moratorium of the $0.4M in fees will create in the first year $0.1M and over a 20 year period $1.0M in tax revenue

5 Jobs Created if Projects Move Forward Big Box Retailer: A moratorium of the $1.2M in fees will create total first year local wages of$5.5M and $82.5M over 20 years Grocery Store: A moratorium of the $1.2M in fees will create total first year local wages of$6.6M and $92.1M over 20 years Day Care: A moratorium of the $1.2M in fees will create total first year local wages of$1.5M and $18.6M over 20 years

6 Concurrency can be the impetus of sprawl instead of supporting infilling and redevelopment in older areas Population Growth in the State of Florida stopped in 2007 and actually reversed and trended to a loss in 2008 Projections for population growth depict very slow increases until 2015 Traffic volumes on all major corridors will therefore be expected to have a downward trend but do City and regional Traffic models contemplate such trends? With reduced population and traffic effective roadway capacity should be increased Construction costs are way down. Do we consider these revised numbers when calculating impact fees within the city? Is it time to consider the “M” word for say two or three years to encourage growth and redevelopment in older areas? Summary


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