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92-070
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92-070
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Last modified
1/3/2012 12:31:32 PM
Creation date
6/26/2003 10:46:59 AM
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City Clerk
Doc Type
Resolution
Doc #
92-70
Date
7/21/1992
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This section provides information about the demographic patterns <br />and enrollment in the District and some of the basra assumptions <br />which have been used to establish the costs associated with each <br />student added to the District..The assumptions contain.ed in this <br />section were used by the District to calculate the financtal burden or <br />detriment presenteOin the followi.ng section. The Agency will, <br />therefore, respond to these issues ~n the following section of this <br />response. <br /> <br />~;¢ction 8: "Financial Burden or Detriment" <br /> <br />The following responses also address those written objectives <br />contained in the script presented at the hearing by Dr. Vivian Blevins <br />entitled "Financial Detriment." <br /> <br />a. "Basis for Financial Burden or Detriment" <br /> <br />No objection was made i.n this subsection; therefore, no <br />response is required. <br /> <br />b. "Loss of P. roperty Tax Revenue Produced bv a Chanee of <br /> Ownership or N~W Constru~0on" - - <br /> <br />This section states that as long as the structure of financing <br />currently used by the State to fund the District is not altered, <br />there is no loss of revenue by the District produced by change <br />of ownership or new cons[ruction if the Amendment is . <br />adopted. However, it indicates that the State could alter ~ts <br />methodology over the 40-year term of the Plan and, therefore, <br />the District is of the opim~on that "any loss o.f revenue as a <br />result of State decreases m the revenue lirmt per full-time <br />equivalent student requires mitigation during the term of the <br />Plan." <br /> <br />This does not appear to be an objection and, therefore, the <br />Agency will not respond to this section. <br /> <br />"Net Increase in Ouali _ty or Quantity of Servi¢¢~ of the District <br />Caused by the Amended Plan" <br /> <br />This section states that the addition of students caused by <br />development results in a net incr.ease in the need to provide <br />capital facilities which is a financial burden. In particular, the <br />Agent's expenditures of low and moderate income housing <br />set-aside funds and the expenditure of tax increment that <br />"creates and/or influences nonresidential building square <br />footage in excess of the present building square footage of the <br />project area" causes an increase in service. Because this does <br />not appear to be an objection to the plan, the Agency will not <br />respond to this section. <br /> <br /> <br />
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