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. G.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 development shall be either revenue positive or revenue neutral for the Town.
G.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.
G.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 G-13, and transportation costs identified in Section G-8.
G.9.4. Any buildings or improvements 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.
G.9.5. For any buildings or improvements 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.
Fiscal Impacts. The project is designed and the contract will be administered by City of Urbana personnel; therefore, there will be staff impacts for project monitoring and contract execution. The pedestrian steel truss bridge will be designed by ESCA Consultants, Inc., Urbana. ESCA will also provide some assistance with the construction observation of the bridge. The total project cost is estimated at $934,000. As outlined in the joint agreement, the federal funding share for the estimated $700,000 construction cost is not to exceed $558,000. The balance of the construction cost, land acquisition costs and material testing costs will be funded using Motor Fuel Tax (E09) funds. The MFT resolution is for $340,000 which includes cost contingences. City Capital Replacement and Improvement funds (A09) will be used to fund consulting engineering expenses, property title searches, property appraisals and property review appraisals, and those costs are estimated at $36,000. Staff has reviewed the cost breakdowns and finds them satisfactory. Please note that these costs are estimates and may increase or decrease dependant on actual bid prices and construction change orders. Sufficient funds are being appropriated to allow for reasonable contingencies. It is recommended that the City Council approve the following resolutions: 1. A RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION OF AN AGREEMENT WITH THE ILLINOIS DEPARTMENT OF TRANSPORTATION (High Cross Road Multi-Use Path – Windsor Road to 1901 South High Cross Road). This Resolution authorizes the Mayor and City Clerk to execute and deliver the agreement (attached) on behalf of the City of Urbana.
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. Maintenance has budgeted sufficient funds in the FY2017 budget. Account 547-4350 Staff recommends the ACHD Commission approve and the President execute the FY2017 Bulk Fuel MD- 407 Piggyback Purchase Agreement with Xxxxx Oil for FY2017. The estimated annual contract amount is not to exceed $600,000.00.
Fiscal Impacts. Maintenance has budgeted sufficient funds in the FY2016 budget. Budget Account 670-4350
Fiscal Impacts. There is no impact to the City budget because CDBG funding for the Public Facilities and Improvements is included in the City of Urbana and Urbana HOME Consortium FY2008-2009 Annual Action Plan. The City’s major investments in the CDBG Program for FY2008-2009 are identified in the Annual Action Plan. Failure to forward agreements to City Council within a reasonable period of time can delay projects and impact the timely expenditure of CDBG funds. Staff recommends that the Community Development Commission forward the Ordinances approving the Agreements to the Urbana City Council with a recommendation for approval.
Fiscal Impacts. Lower energy costs for homes and businesses. There is the potential for this program to be a net revenue generator with the program paying for itself in the second or third year.
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. 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.
