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11-03-14 JDA
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11-03-14 JDA
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TCAAP Energy Integration Resiliency Framework <br />Policy White Paper – Policy and Regulation Overview <br /> <br /> 54 <br />8.5.2. Implementation Path: Development Incentives <br />8.5.2.1. Density Bonuses <br />The TCAAP Redevelopment Code is form-based and by nature does not specify allowed densities, <br />although density is an important variable for enabling development and some degree of energy <br />resiliency. One of the more flexible incentives that the City and County could offer to a developer is a <br />density bonus for meeting energy efficiency standards, or participating in a program such as Energy <br />Design Assistance. By providing this leeway, developers have more freedom to find an economically <br />viable project. For TCAAP, such an incentive may come in the form of a height bonus, or an orientation <br />variance. <br />Density would also further support district energy systems and energy islands. While the exact building <br />uses that will be developed on the site are unknown, high thermal energy users such as laundromats or <br />breweries, and thermal energy producers such as data centers are examples of businesses that can <br />help anchor an underground district system. Offering height or oth er variances for these types of <br />developments could greatly increase the potential for such a system. <br />8.5.2.2. Tax and Financial Incentives32 33 <br />The future cost savings from energy efficiency and clean energy will be a consideration for some <br />businesses, but having financial incentives available to developers will be beneficial. In addition to <br />expedited permitting opportunities, the JDA should seek third-party funding to incent and fund <br />enhanced energy performance and innovative energy engagement opportunities. Federal grants, state <br />loans, private businesses, and utility funding, and foundations are all potential sources for these <br />incentives. The JDA should prioritize the development of these opportunities so that these dollars <br />could be used in the immediate-term stages of development. <br />Many of TCAAP’s large infrastructure decisions will occur between 2014 and 2016. For this reason, <br />incentives that can help cover upfront capital costs will be very important. One tool that is frequently <br />used in large redevelopment projects is tax incremental financing (TIF), however the City and County <br />have determined not to apply this tool at TCAAP. <br />The US Department of Energy has several funding opportunities a year that enable cost-shared funding <br />for approaches such as efficient home improvements or net-zero homes, microgrid demonstrations, <br />feasibility studies for integrated deployment of renewables, local approaches to reduce permitting <br /> <br />32 Angel Tax Credit: Businesses headquartered in Minnesota with fewer than 25 employees and engaged in the research and <br />development of qualifying high-technology can qualify for up to $1 million in angel tax credits. <br />33 Research and Development Tax Credit: The tax credit for R&D expenditures is 10%, up to the first $2 million in eligible expen ses. The <br />credit is 2.5% for eligible expenses above $2 million.
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