1. Workforce Housing Pilot Program and Economic Incentive Plan Update Board of County Commissioners August 25, 2009

2. Discuss Workforce Housing Pilot Program Criteria for Deferring Impact Fees Discuss Extension of Interim Measures that were part of the Economic Incentive Plan Purpose

3. Workforce Housing Pilot Program Board of County Commissioners August 25, 2009

4. Background Proposed Criteria Financial Security Next Steps Presentation Outline

5. Background Proposed Criteria Financial Security Next Steps Presentation Outline

6. Background Impact Fees Transportation Fire Law Enforcement Parks & Recreation Schools Water and Sewer Impact Fees Due at Building Permit Certain Projects can Defer to Certificate of Occupancy

7. Background (continued) Board Discussion (June 30, 2009) Allow Deferral of Impact Fee/Connection Fees Beyond Certificate of Occupancy Develop Pilot Program Criteria Allow County-wide

8. Background Proposed Criteria Financial Security Next Steps Presentation Outline

9. Proposed Criteria Code Amendment One Year Pilot Program Certified Workforce Housing 40% of units rented to households with incomes not exceeding 80% of AMI For 15 Year Period One per District Urban Service Area (excluding cities) Minimum (100)/Maximum (400) Number of Units

10. Proposed Criteria (continued) Construction must Commence Twelve (12) Months from Effective Date of Developer’s Agreement Time Certain for Impact Fee Payment (54 months max) Required Developer’s Agreement School Board Approval -For School Impact Fee -Capacity Enhancement Agreement Modification Security

11. Background Proposed Criteria Financial Security Next Steps Presentation Outline

12. Financial Security Initiate pilot program and safeguard taxpayer funds Potential multi-million dollar obligation to County Deferring fees requires loan safeguards 1.Letter of Credit to ensure future payment 2.Lien on the project property 3.Interest on deferred fees

13. Financial Security (continued) 1.Letter of Credit to ensure future payment Local Bank with office in tri-county area “A” or better Bank credit rating Qualified State Repository Bank Irrevocable, demand-draw LOC 2.Lien on the project property Subordinate to mortgage Lien may help a failed Bank LOC Lien impacts redevelopment

14. Financial Security (continued) 3.Interest earnings for deferred fees Project risks  Developer:Bankruptcy, foreclosure  LOC Bank:Credit downgrade, failure  Inflation:Interest rate increases

15. Financial Security (continued) 3.Interest earnings for deferred fees Interest index adjusted quarterly:  Index: Bloomberg Prime Rate -.25% (3% currently)  Cap: Initial Bloomberg Prime Rate + 4%

16. Background Proposed Criteria Financial Security Next Steps Presentation Outline

17. Next Steps Code Amendments LPA Worksession and Public Hearing BCC Public Hearing Developer’s Agreement

18. Workforce Housing Pilot Program Questions?

19. Economic Incentive Plan Update Board of County Commissioners August 25, 2009

20. Background Interim Measures Benefits Next Steps Action Requested Presentation Outline

21. Background Interim Measures Benefits Next Steps Action Requested Presentation Outline

22. Background Economic Incentive Plan Extend Building Permits Suspend Increased Impact Fees for Land Use Changes Extend Capacity Encumbrances and Reservations Suspend Impact Fee Indexing

23. Background Interim Measures Benefits Next Steps Action Requested Presentation Outline

24. Interim Measures Extend Building Permits (12 Months) Suspend Increased Impact Fees for Land Use Changes

25. Interim Measures (continued) Capacity Encumbrance Letters Extended for one year Capacity Reservation Certificates Extended for 5 years Allows for Incremented Payments over extended period of time Approved Until October 31, 2009

26. Background Interim Measures Benefits Next Steps Action Requested Presentation Outline

27. Benefits Customer Service Fees Already Collected Incentive not to Request Refunds Economic Stimulus

28. Background Interim Measures Benefits Next Steps Action Requested Presentation Outline

29. Next Steps Ordinance Approval Process LPA Work SessionAugust 20, 2009 LPA Public HearingSeptember 17, 2009 BCC Public HearingOctober/November 2009

30. Background Interim Measures Benefits Next Steps Action Requested Presentation Outline

31. Action Requested Approval to draft the Workforce Housing Pilot Program into ordinance form and schedule the required Public Hearings -And- Extension of the Economic Incentive Plan Interim Measures approved on March 17, 2009, until December 31, 2009. ALL DISTRICTS

32. Workforce Housing Pilot Program and Economic Incentive Plan Update Board of County Commissioners August 25, 2009

33. Background (continued) Survey of Jurisdictions Collier County Hillsborough County Highlands County

34. Background Scope of Request Sago Cay/Workforce Housing Defer Impact Fees 3-5 years after C.O. Letter of Credit Earned Interest Developers Agreement Requires Ordinance Changes

35. Background (continued) Location of Project330 M.F. Units Total Impact Fees$5.3 M

36. Workforce Housing Pilot Program Background Proposed Criteria Financial Security Economic Incentive Plan Interim Measures Background Interim Measures Benefits Next Steps Action Requested Presentation Outline