2019.05.21 Planning Commission - Laserfiche WebLink

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Preliminary Planned Residential Development Planning Commission Report; 5-21-19 Page 23 (cont.) distributed. There is no loss of revenue to the various taxing authorities as a result of the TIF district. Claims that using TIF in this context will directly raise City and/or County taxes are also unfounded. On the City side of things, our budget is based on overall staffing and capital needs. When the City creates a TIF district, it must look at the anticipated fiscal impacts, and in this case, the examination determined that the City would not have increased costs in staffing or capital needs due to the new developments. In fact, the developments are contributing up front funding for additional public improvements within and adjacent to the TIF district that might have otherwise fallen to taxpayers to address in the coming years absent development. Rather than the community as a whole bearing such costs, these upgrades will now be funded up front by the developer. The County, like the City, will also not see an impact to their budget as nothing in this project drives additional staff or capital needs at the County level.  A number of commenters voiced concerns about low income individuals, an alleged stigma that will come with new housing, and a general fear of more residents coming into the City. For the sake of this report and responding to these types of comments, we will presume statements along this line were not meant to disparage the canvas of ethnic and religious groups that make our nation great, and instead will focus on literally who needs this housing and who can be expected to take advantage of this opportunity: 1. First and most importantly, City officials heard time and time again from residents over the last two years that housing and affordable units are one of the most pressing needs within the community. The “who” will undoubtedly include existing residents along with their friends, family, and neighbors who have made it clear this type of development is long overdue. 2. Second, the affordable senior and workforce housing units proposed will come with an income restriction of 60% Area Median Income. In terms of rental prices, this would equate to one-bedroom units renting for $1,062, two-bedroom units at $1,273, and three-bedroom units at $1,471; essentially rental rates to serve families living on an income of $42,000 to $58,000 per year. Per 2018 Bureau of Labor Statistics data, this “who” would include the various people listed on the following page: