Legislative Hearing - Ordinance 20-007 - Impact Fee Moratorium within Urban Infill and Redevelopment Area. FIRST READING.

The proposed ordinance will provide a moratorium on the imposition and collection of City impact fees within the Fort Pierce Redevelopment Area for a period of 12 months. The concept of this moratorium was presented to the Fort Pierce Redevelopment Board on July 15, 2019 as part of the city’s overall economic development strategy. This proposed ordinance was approved by the City of Fort Pierce Planning Board on February 11, 2020.
 
Urban infill and redevelopment projects are intended to improve existing neighborhoods and encourage investment within these areas. Unfortunately, there has been limited new construction in the FPRA boundaries over the past several years. According to the attached map, only $40,023 of impact fees were collected within the FPRA boundaries over the past three years compared to $1.1 million outside of the FPRA boundaries.
 
The intent of this moratorium is to assist businesses in the Fort Pierce Redevelopment Agency boundaries reduce their startup costs and to contribute to the sense of vitality that occurs when buildings are occupied. It is our hope that this moratorium will encourage and entice development within the FPRA boundaries. Since infill locations are within the urban core of our community, typically they already have much of the needed infrastructure. Unless extraordinary capital improvements are required, infrastructure costs can be substantially lower for infill development relative to a similar project in an undeveloped area.
 

Staff recommends approval of Ordinance 20-007.

Staff will proceed as directed by the City Commission.

Shyanne Helms, Communications + Economic Development Manager

Nicholas C. Mimms, City Manager
Peter J. Sweeney, City Attorney
Caleta Scott, Grants Administration Manager