Title of Item:
TRANSFER OF IMPACT FEE CREDITS (RC):
ORDINANCE No. 2426-2020; AN ORDINANCE OF THE CITY OF STUART, AMENDING ARTICLE III, SECTION 32-68 ALLOWING FOR THE TRANSFER OF IMPACT FEE CREDITS; PROVIDING FOR A SEVERABILITY CLAUSE AND A CONFLICT CLAUSE; PROVIDING FOR AN EFFECTIVE DATE, AND FOR OTHER PURPOSES.
Summary Explanation/Background Information on Agenda Request:
On 12/09/2019 the Commission directed staff to present a proposed ordinance that would allow a property with surplus or excess impact fee credits to transfer those credits to a different parcel within the City as a means to offset the high cost of housing.
The proposed Ordinance is in draft form. The The premise would allow a property owner with excess credits to transfer those credits to a different owner or property. Currently, the City provides impact fee credits on site for previous development.
The last major impact fee review study done by the City was in 2014. The consultant was not asked to evaluate or draft a transfer program but did discuss credits and reimbursements on page 27. The Study is attached to the agenda item for review.
Funding Source:
N/A
Recommended Action:
Provide direction to staff or move approval on first reading. |