SUBJECT:
Title
Request Approval for the Silver Springs Community Redevelopment Area Impact Fee Grant Program (Budget Impact - Neutral)
Body
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INITIATOR: |
DEPARTMENT: |
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Christopher D. Rison, AICP, FRA-P |
Growth Services |
DESCRIPTION/BACKGROUND:
The Marion County Community Redevelopment Agency is able to offer grant programs to support investment for new development and redevelopment in the Silver Springs Community Redevelopment Area (CRA). New development and redevelopment that creates increased impacts on public facilities is subject to payment of Marion County’s impact fees to address the facility impacts resulting from development. An Impact Fee Grant Program is recommended to assist with such costs and encourage and facilitate new development. This is similar to the Utility Infrastructure Grant Program that provides for reimbursement of utility system capital charges, wherein two such grants were awarded within recent years. Two grant amounts are proposed with the higher grant amount available to sites in the Silver Springs CRA Overlay Zone focused on E. Silver Springs Boulevard and NE 55th Avenue. Grants will be reimbursement grants subject to the completion of development and receipt of the final inspection/certificate of occupancy. Maximum grant award amounts will remain subject to available budgeted funds in the “Grants & Aid” line item at the time a grant application is filed.
The proposed Impact Fee Grant Program areas and corresponding grant amount are listed below:
1. Properties within the Silver Springs Community Redevelopment Overlay Zone - Up to $150,000 or 50%, whichever is less.
2. Properties outside the Silver Springs Community Redevelopment Overlay, but within the Silver Springs Community Redevelopment Area - Up to $75,000 or 50%, whichever is less.
Staff recommends approval of the Impact Fee Grant Program, the Application, and the supporting information.
BUDGET/IMPACT:
Neutral
RECOMMENDED ACTION:
Recommended action
Motion to approve creating the Silver Springs CRA Impact Fee Grant Program, the Application, and the supporting information.
end