Fiscal Impacts. 5.9.1. The University and Town agree that the University, the State, or Carolina North Project tenants shall bear the cost of Town services required by the Carolina North Project. The Carolina North Project shall be either revenue positive or revenue neutral for the Town.
5.9.2. The Fiscal Impact Analysis on Carolina North (submitted March 3, 2009) shall be used as a guide to identify the costs and the revenues associated with the Carolina North Project.
Fiscal Impacts. There would be no fiscal impact to the city budget. Funds for Homestead have been budgeted in Fiscal Year 2003-2004. At their July 22 meeting, the Urbana Community Development Commission recommended this agreement for city council approval. Community Development staff also recommend city council approval of this agreement. Attachments:
Fiscal Impacts. No portion of the developed Property normally subject to ad valorem property taxation shall be exempt from taxes or shall have improvements on said Property which are tax-exempt or owned by any entity that is, under federal or state taxation law, considered to have tax-exempt status. Section 5.5 (a) shall not apply to any public rights of way, property dedicated to and accepted by the Town of Chapel Hill, or any tax-exempt entity that provides payments in lieu of ad valorem property taxes owed to the Town and County in an amount equal to the amount of taxes that such an entity would otherwise be required to pay to the Town and County if such an entity were not considered to be tax-exempt. Pursuant to [OBEY CREEK: Check reference - Section 5.20(d)(1) (Annual Report on tax status)] of this Agreement, the Developer Owners and Parcel Owners, if any, or the Representative on behalf of the Developer Owners and Parcel Owners, if any, shall inform the Town in the Annual Report as to whether the Developer Owner of each building located within the Property is considered to be tax-exempt. Design Standards and Public Art. Design Standards for transparent window coverage, drive-through windows, signage (including Wayfinding signage), waste collection and loading functions, green building features, and other building and site design details are detailed in the Exhibit B. Public Art in the Property, if provided, shall be installed and maintained by the Developer Owners or Representative. Public Art installations that occur will be in a place visible by and to the public whenever possible. The Developer Owners or Representative will consult with the Town of Chapel Hill Public and Cultural Arts Office to discuss options for public art as the Development moves forward. Additional information included in Exhibit B.
Fiscal Impacts. 5.9.1. The University and Town agree that the University, the State, or Carolina North tenants shall bear the cost of Town services required by Carolina North. The Carolina North Project shall be either revenue positive or revenue neutral for the Town.
5.9.2. The Fiscal Impact Analysis on Carolina North (submitted March 3, 2009) shall be used as a guide to identify the costs and the revenues associated with Carolina North.
5.9.3. The University shall conduct an annual accounting of the operational and capital fiscal impacts to the Town of the Carolina North Project approved pursuant to this Agreement and shall include that report in the annual report. The fiscal impact report shall use a mutually agreed upon methodology and process. If that report indicates there are substantial negative fiscal impacts for the Town, the Town may suspend approval of additional individual site development permits until an agreement is reached with the University regarding resolution of negative fiscal impacts to the Town. The report shall specifically address University and State payments for fire services provided by the Town, contributions for capital facilities identified in Section 5.13, and transportation costs identified in Section 5.8.
5.9.4. Any portion of buildings, improvements, or personal property at Carolina North that are privately owned shall be subject to ad valorem taxation per North Carolina General Statutes. In addition, in the event any such building reverts to public ownership and subsequently is transferred back to private ownership, it shall again be subject to ad valorem taxation for any periods in which it is held in private ownership.
5.9.5. For any portion of buildings, improvements, or personal property at Carolina North that are privately owned by a for-profit entity, and that entity is, under future taxation law, considered to be eligible to apply for tax-exempt status, the entity shall not apply for tax-exempt status during the term of this Agreement. The University shall inform the Manager and the Orange County Tax Assessor annually as to who owns each building at Carolina North and whether the owner is tax exempt.
5.9.6. Any portion of buildings or improvements at Carolina North that are privately owned shall be subject to Town fire and building permitting and inspection fees.
Fiscal Impacts. Maintenance has budgeted sufficient funds in the FY2016 budget. Account 547-4350 Staff recommends the ACHD Commission approve and president execute the FY2016 Bulk Fuel Piggyback Purchase Agreement MD-335 with United Oil for FY2016. The estimated annual contract amount is not to exceed $1,100,000.00.
Fiscal Impacts. Maintenance has budgeted sufficient funds in the FY2016 budget. Budget Account 670-4350
Fiscal Impacts. There would be no fiscal impact to the city budget. Funds for ULCCDC have been budgeted in Fiscal Year 2004-2005 Staff recommends that the Community Development Commission forward a favorable recommendation to City Council for this agreement.
Fiscal Impacts. The developer would be responsible for all costs associated with building the parking area. The City may in the future reconstruct Maple Street as part of a Capital Improvement Project.
Fiscal Impacts. The proposed Agreement would have no fiscal impacts upon the City. Staff time and resources to notify District staff regarding annexation activity is negligible. Properties that are annexed into the MTD boundaries would have an increase in property tax consistent with the District’s tax rate. Staff recommends adoption of the Intergovernmental Agreement as attached. Attachments:
Fiscal Impacts. There are no financial impacts to the City with either the TACO Agreement or the Groundwater Restriction Ordinance.
