Title
Discuss the Proposed Waiver of Roadway Impact Fees as a Targeted Incentive to Promote Economic Development/Redevelopment in McKinney’s Town Center (Kevin Spath) (20 minutes)
Summary
MEETING DATE: November 1, 2011
DEPARTMENT: Development Services - Planning Department
CONTACT: Kevin Spath, AICP, Assistant Director of Planning
RECOMMENDED CITY COUNCIL ACTION:
· Discuss and provide feedback
ITEM SUMMARY:
· At the September 26th work session, Staff and the consultant team presented to City Council an update on the status of the creation of a coordinated Business Plan for McKinney’s Town Center. The presentation specifically included a discussion about the policy issue of roadway impact fees as a monetary disincentive to infill redevelopment in the Town Center.
· The presentation also included a discussion about the City’s possible creation of a targeted incentive to promote economic development/redevelopment in the Town Center through the reduction/waiver of roadway impact fees. The City Council indicated general support of the idea.
· Discussion on this topic continued at the October 4th regular meeting during City Council’s consideration of the appeal of roadway impact fees requested by Louisiana Street Grill.
· Based on feedback received during the September 26th work session and the October 4th regular meeting, Staff is now providing additional information to:
· demonstrate the relationship between roadway impact fee revenue and the funding of roadway improvement projects within the City’s Capital Improvement Program (CIP) between FY 2008 and FY 2011, and
· demonstrate the City’s “return on investment” when comparing roadway impact fee revenue and ad valorem tax revenue for 2 case studies in McKinney’s Town Center.
· Staff is also recommending moving forward with the following approach for creating a targeted incentive specifically regarding the waiver of roadway impact fees in McKinney’s Town Center:
· Staff proposes to expand the current...
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