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MULTI-MODAL TRANSPORTATION MITIGATION PROGRAM (MMTM). MULTI-MODAL TRANSPORTATION MITIGATION PROGRAM (MMTM). What is it? Where does it apply? Who pays it? When is it assessed? When does it get paid? Where does it get spent? What does it get spent on?. WHAT IT IS?. - PowerPoint PPT Presentation
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MULTI-MODAL TRANSPORTATION
MITIGATION PROGRAM (MMTM)
What is it?
Where does it apply?
Who pays it?
When is it assessed?
When does it get paid?
Where does it get spent?
What does it get spent on?
WHAT IT IS?
• Last required component of Mobility Plan to be adopted
• Streamlined alternative to traditional concurrency
• One time payment to mitigate impact • Eliminate transportation concurrency uncertainly
• Fair and equitable for all new development
• Dramatic reduction in proportionate share
WHO PAYS IT?• New development without CLSC
• Approved development whose CLSC expires
• CLSC = Concurrency level of service compliance Approved development with a valid CLSC will continue to pay the existing transportation impact fee
APPROVED DEVELOPMENT
• Extending CLSC & Phases for 2 Years – transportation only
• Vesting for concurrency and impact fees for following:
• Projects with 25% of infrastructure built by July 31st, 2011 Vested from concurrency Vested to pay current impact fee
• Projects with 50% of infrastructure built by CLSC expiration Vested from concurrency Vested to pay impact fee
WHEN IS IT ASSESSED?
• Determined during final development plan review • Rate locked in with final development plan approval
• Valid as long as final development plans valid • Verified at Building Permit
• Paid prior to final inspection
PRE-PAYMENT INCENTIVE
• Pay at final development plan 15% Reduction
• Pay at building permit application 7.5% Reduction
• Pay prior to final inspection No Reduction
PHASING SCHEDULE
Phasing based on current reduced impact fee
Phased in over a 3 year period
April 15th is the date that the phasing will occur
YEAR Single Use
TND TOD
2011 $2,433 $2,212 $1,704
2012 $2,793 $2,352 $1,777
2013 $3,164 $2,494 $1,851
Based on residential dwelling per 1,000 sq ft
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