Title
Planning and Building Department recommending the Board approve the attached Fiscal Impact Analysis and Public Facilities Financing Plan Process Manual and Guidelines.
FUNDING: Project Applicant Time and Materials Funding.
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DISCUSSION/BACKGROUND
With the help of Goodwin Consulting Group, and in consultation with the Chief Administrative Office, County Counsel, and the Department of Transportation, the Planning and Building Department has developed a set of protocols and procedures to assist applicants in the preparation of a Fiscal Impact Analysis (FIA) and a Public Facilities Financing Plan (PFFP) for proposed projects within unincorporated areas of El Dorado County (Attachment A).
In brief, an FIA is prepared for development projects to estimate the ongoing revenues that would be generated by it and the ongoing costs that will be incurred in order to determine the fiscal impacts that will result to the County General Fund. The FIA will include a projection of property tax and sales tax revenues, transient occupancy taxes, property tax in-lieu of vehicle license fees, gas taxes, and other revenues that will result from new development within the Project. These revenues will be compared to the total cost of providing police, fire, street maintenance, park maintenance, County administration, and other services that may be funded by the General Fund. To the extent service costs exceed estimated revenues, a mechanism should be proposed in the FIA to mitigate the projected deficit.
The PFFP for a project will set forth a proposed funding strategy for public infrastructure and community facilities that are needed to serve the project. Funding capacity from land-secured financing, such as Mello-Roos or assessment districts, will be estimated and applied to assist in funding facilities in a timely manner. The PFFP will also provide an estimate of the total infrastructure burden for each land use, and determine whether these burdens are viable based on ...
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