Title
Community Development Services, Planning and Building Department, recommending the Board approve the proposed 2018 Ten-Year Residential Permit Forecast for development of the 2018 Capital Improvement Program. (Est. Time: 15 Min.)
FUNDING: N/A
Body
DEPARTMENT RECOMMENDATION
Community Development Services (CDS), Planning and Building Department (Planning), Long Range Planning, recommending the Board approve the 2018 Ten-Year Residential Permit Forecast (2018 Forecast). This Forecast will be used in the development of the 2018 Capital Improvement Program (CIP). A memo to the Board is attached which provides information regarding the proposed 2018 Forecast (Attachment A).
DISCUSSION / BACKGROUND
General Plan Policy TC-Xb and Implementation Measures TC-A and TC-B require the annual update of the CIP, specifying expenditures for roadway improvements over the next ten years. The Residential Permit Forecast initiates the CDS annual updating cycle for both the CIP and the Traffic Impact Mitigation (TIM) Fee Program (Attachment B).
One of the major funding sources for the CIP is revenue from the TIM Fee Program. The majority of the TIM Fee Program’s revenue comes from residential building permits. Staff uses the residential permit forecast to estimate TIM Fee revenues programmed in the ten-year CIP. General Plan policies require that the forecast is evaluated each year for the annual update of the CIP program.
There are consequences of forecasting too high or too low. If the projected estimate is too high, the revenue forecast assumes the capacity to finance additional roadway projects in the ten-year CIP. Including additional CIP projects could cause a lack of sufficient revenue to repay existing reimbursement agreements. Conversely, if the estimate is too low, the County could potentially miss the opportunity to include CIP projects needed within the County.
On August 23, 2010 (Item 1), the Board approved the “Long Slow Climb” permit forecast sce...
Click here for full text