8C, City - County Joint Powers Agreement for TCAAP

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Article III—TCAAP Master Plan A UAR and Master Plan Article III outlines how the Master Plan will be implemented by the JDA. The City is responsible for preparing and paying for the AUAR. This is an environmental review required by State law. The City is also responsible for preparing and paying for the TCAAP Master Plan. It is expected that these two planning documents will be developed simultaneously. The County is currently undertaking a market study that will assist the City in putting together the AUAR and Master Plan. The cost for these planning documents is expected to be in the $450,000 - $500,000 range. The City has some estimates from two qualified consulting firms for the AUAR but does not yet have any estimate on the cost of the Master Plan. The elements of the Master Plan are listed in section 3.2.1. and in Schedule B of the JPA. The City believes that it will be able to recapture its investment in the AUAR and the Master Plan through a fee on building permits and/or a fee on land use applications. The City is comfortable that there is a sound legal basis to recapture the cost of the AUAR and Master Plan through a land application fee and/or a building permit fee as there is a direct correlation between these plans and land use approvals. It is recommended that the City's funding source for the AUAR and the Master Plan be an internal loan from the City's Permanent Improvement Revolving (PIR) fund. The latest draft of the City five (5) year Capital Improvement Program that shows the cash flow and planned uses of the PIR fund has recently been distributed to the Council. Repayment to this fund would likely take 15 or so years and would depend on the redevelopment pace of the TCAAP site. The financing and repayment for the AUAR and Master Plan could look like the following example: The City expects to spend money on the planning documents in 2013-15. The City would be spending the money something like the following: $150,000 in 2013; $250,000 in 2014; and $50,000 in 2015. If there are 300 net developable and assessable acres (net of County Road right- of- way, regional ponding, and park land); and if the cost for the AUAR and Master Plan is $450,000; then the City would charge a$1,500 per acre fee for planning documents. The City would recapture the funds as land is developed. It is expected that it will take from 10 to 15 years for TCAAP to be fully redeveloped. If the pace of redevelopment is an average of 25 acres per year, then the City would recapture 3