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• Grand Profile
• Economic Development Plan
Process
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+ Grand Profile
• In 2013 the communities of Grand County came
together to create the Grand Profile
® The Grand Profile was created with the following
goals:
— To create a comprehensive collection of economic data
sets for Grand County
— To evaluate those data sets for accuracy
— To develop a way to update all of the data sets on an on-
going basis so that the data is always current
— To create mechanisms that allow local governments,
business owners, organizations and individuals to have the
ability to interact with the data collected
M
/ VAAOR A D 0 HERE THE FUlNlBEGIRNS
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Grand County visitor
experience of visitors,
transactional leads,
second home owners,
and primary residents
Grand County business
climate as seen by
current business
owners/managers
Grand County resident
experience of second
homeowners and
primary residents
5,053 responses ® 206 responses 1,627 responses
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j�f Grand Profile - www.grandprofile.org
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Community & Economic Data for Grand County
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Grand facts
Request iniunnalion
Upcoming Events
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Demographics
Starting in early 2014. a group that includes me Grana County Board of Commissioners. the county's Economic: Development Office, town
managers from every town, area chambers of commerce. and other leaders started a data collection effort wiln the hopes of translating
knowledge 4110 power h our community. By combining pubilcly-accessible information We census data and IaX records with on-Ihe-ground
knovytedge o1 county residents and business owners, we hope to put together twin me 30,000 foot view or our county's economic drivers and
Individual community proilles. Each will help our area's leaders make Infolmeo decisions about the future..
Be sure to check out the available Data Sets and the Grand Facts to find see this alfomiatlon in action
Valley
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a a BEGINSCHAMBER
Project • Phase I: Create Research Baseline
• Phase II: Community Input Mechanism
esi• • Phase III: Preparation of Plan
•
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Economic D �4p� r x,o went Plan Process
• The towns of Fraser and Winter Park came together in
February of 2015 for a joint meeting to review the Grand
Profile and identify opportunities within the data sets for
the Fraser Valley
• As a result of this joint meeting the two towns as well as
the Chamber and Rec District came together to develop a
strategic economic development plan
• Strategic Economic Development Group, which included
representatives of each town, the Chamber, and the Rec
District, was created to develop a plan that could be
implemented by both towns
• The plan was to be developed specifically to include
goals that could be achieved in a 3-5 year timeframe
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0. Methodology
® Multiple mechanisms were considered for this
project, with the committee settling on the
following:
® Fraser Valley Strategic Economic Development
Survey
— Survey was sent to businesses and individuals in the Fraser
Valley as well as posted on the Sky -Hi Daily News
— 635 responses
Stakeholder Interviews
Traser a e RecJ�
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WIIEXE THE FUN BEGINS
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• Framework
• Goals
• Overview
• Progress
• Next Steps
'�LN�-er Valley RecVnNTER
10
RE THE FUN BEGINS FRASER
C O L O R A D O
Review of Framework
• The towns and supporting entities of the Fraser Valley recognize that improving
the quality of life in the valley is a key component of local economic vitality. This
consideration is being addressed through community development efforts by the
towns that include actions related directly to economic development, as well as
peripheral actions that will further broad community objectives. This Strategic
Plan anticipates that the economic development actions identified herein will be
tied to other ongoing community development activities and that the communities
will continue to plan and invest in ways that improve the communities for
residents and visitors alike.
• The towns and supporting entities of the Fraser Valley will work together to better
use existing resources to further economic development opportunities.
• The towns and supporting entities of the Fraser Valley will work together to
develop effective metrics to evaluate each economic development goal and their
respective actions as outlined in the Strategic Plan. These metrics will also extend
to a commitment to I<eep the data of the Grand Profile up to date, as the Grand
Profile. The metrics and updates are outlined for each goal in the respective
Progress & Updates sections.
Actions:
• Continue joint meetings on a periodic basis to enhance communications and coordination.
• Pursue opportunities for joint funding of initiatives with particular attention to the Actions identified in this Plan.
N' Qi'
Rec , f. PARK
ERASER ti
� � CHAMBER
Enhance transit and multi -modal
transportation
Increase and expand access to
broadband services throughout
the Fraser Valley
Increase housing opportunities for
the current and future workforce
at a variety of price points
Nurture and grow the tourism
industry
Support existing businesses while
also strategically recruiting
businesses to the Fraser Valley
WINTER
PARK
FRASER
CHAMBER
Enhance transit and multi -modal
iO transportation
*Sales tax initiative for
transportation
*Work to expand transportation by
partnering with other entities
*Assist in implementation of trails
master planning efforts
_ . ' • PARK13
• ,r�;\'�.�'- " Ci.c� .•�-�' � F RAS E R ,�1!'7+f.
Enhance transit and multi -modal
transportation
• Sales tax initiative passed in November 3, 2015 election
• Full-time transit operations commenced in November of 2015 with the
Town as the operations provider.
• The Transit Advisory Committee has reviewed service plans for Spring
and Summer, with operations commencing at the end of April.
• The Town has hired a full-time Transit Manager to accomplish the transit
goals and tasks identified in their work plan.
• The Town has acquired ten (10) transit coaches from RTD (Denver) that
are currently being rehabilitated and will be operating on the road prior
to the end of ski season.
• Town of Winter Park received an $800,000 grant from the Colorado
Department of Transportation for two (2) new full-size transit coaches
and one (1) new smaller cutaway style bus, with delivery expected in
mid -2018.
Rec
tPARK-� 4 _
r�ERASER '~
C> BEGINS
Enhance transit and multi -modal
transportation
• Create Survey Mechanism to continually
measure success and solicit community
feedback
• Evaluate Routes for efficiency and better
service
• Develop Marketing program and assets (eg.
Map, app, etc)
_ �Fr
VJiNTER
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+�{�_.)-�����+ • • �' • PARK
Increase
services
and expand access to broadband
throughout the Fraser Valley
• Support for initiatives to create and expand
broadband services within the Fraser Valley
• The towns will undertake additional studies to
insure the implementation of best practices
• Explore public/private initiatives for funding
• Consistent with local studies, the towns will
initiate construction activities to create
broadband services to be financially viable and
efficient
WINTER
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Fraser Valley Rec
WHERE THE FUN BEGINS FRASERCOILOHAUU-- k,, � S, • 'ti
CHAMBER
Increase and expand access to broadband
services throughout the Fraser Valley
• The Town has budgeted money in its 2016
Annual Budget for the purpose of developing a
community broadband plan, and anticipates
enlisting consultant services to construct the plan
for the Town.
• Chamber has added collaborative efforts
regarding Broadband to the 2016 ED work plan
• SB152 Passed in towns of Fraser and Winter Park
Rec
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LFr��� �.►.�i�c�ERASER
.7 CHAMBER � �
Increase and expand access to broadband
services throughout the Fraser Valley
*Allocate Staff resources to the
development of a Broadband
Assessment & Feasibility Study for
Winter Park
*Conduct Assessment and Feasibility
Study
t
Fraser a Tz . WHERE THE FUN BLGINS
CHAMBER
Increase housing opportunities for the
current and future workforce at a variety of
price points
• Winter Park and Fraser will work together on selected aspects of
attainable housing issue
• Town of Fraser will explore a needs assessment comparable to the
2015 Winter Park Needs Assessment
• Collectively inventory and investigate vacant land parcels that might
present opportunities for redevelopment or additional density
• Encourage the development of workforce housing that is accessible
via public transit
• Encourage the development of additional rental units in an
apartment configuration
• Improve program implementation and management services for
attainable housing, taking advantage of economies of scale.
_ � 1 WINTER
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r�- (� ERASER F_W7
� CNAhIBER
Increase housing opportunities for the
current and future workforce at a variety of
price points
Progress
• The Town of Winter Park has successfully negotiated the construction of forty
two (42) affordable housing units with the development of the Sitzmark
South project. These units are anticipated to be under construction in May/
June of 2016, with turn -key delivery in mid -summer 2017.
• The Town of Winter Park has hired a Housing Coordinator that will act as the
Town's liaison for affordable and attainable housing operations into the
future. The Housing Coordinator is also developing a long-term strategic plan
for implementation of the Town Council's long-term housing goals,
developing new eligibility criteria for potential attainable and affordable
housing residents, identifying strategic partnerships for construction of units,
and collaborating with Winter Park Resort and other providers to provide
additional seasonal housing for our workforce.
• The Town of Fraser has conducted an Attainable Housing Study
WINTER
Aft-
Fraser Valley Rec
20
PRASER ,n;
� � � CHAHBER
Increase housing opportunities for the
current and future workforce at a variety of
price points
• A Housing Coordinator for the Town of Winter Park is
developing a long-term strategic plan for
implementation of the Town Council's long-term
housing goals, developing new eligibility criteria for
potential attainable and affordable housing residents
• Continue to identify strategic partnerships for
construction of units including collaboration with
Winter Park Resort and other providers to provide
additional
. W[NTER
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r\ ERASER
CHAMBER
Nurture and grow the tourism industry
• The Fraser Valley should capitalize on its proximity to RIVINP (In progress —
2015 Basecamp Initiative)
• Partner with local trail and biking efforts, the Chamber, and other biking/trail
entities to solidify position as the premier mountain bike destination in North
America
• Continue to evolve the events strategy to be consistent with the branding
message, as well as to attract targeted visitor segments to enhance tourism,
increase resiliency to weather and outside forces, and to expand the visibility
of the Fraser Valley as a location for play and work.
• Grow midweek and off-peak visitation to limit the impact of peaks and valleys
within the business model
• Invest in infrastructure to enhance the visitor experience
• Focus on evolving the customer base beyond the traditional market segments
Nser Valley WINTER
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C�1 PRASER
L' -HERE THE FUN BEGINS
CHAMBER
Nurture and grow the tourism industry
• 2015 RMNP Basecamp Initiative
• Ballot initiative to remove sunset provision of
1% designated tax (pending voter approval)
• New marketing firm to better align all
marketing messages and assets
• Additional & expanded events for 2016
Summer season
• Divide Music Festival
, , . ' WINTER23
PARK
t. HERE THE FUN BEGINS
GH4hIBE0. "
Nurture and grow the tourism industry
• Continue to attract outside promoters/
producers for events
• Enhance community marketing assets (website,
brand platform, etc) and Target potential
guests based on analytics (eg. browser history,
booking cycle, activity preferences, etc)
• Continue efforts to expand brand presence of
MBCUSA and Colorado's favorite Playground
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24
ERASER
CHAMBER
Support existing businesses while also strategically
recruiting businesses to the Fraser Valley
• Provide local businesses with information resources to encourage expansion and competitiveness. Insure
that the towns have readily available information, including the available community data such as the
Grand Profile, to explain and express support for businesses in the community
• Designate a shared business development function/position within the Winter Park & Fraser Chamber to
encourage the retention and expansion of existing employers in cooperation with, and funded by, the two
towns. This individual would serve multiple roles on behalf of the Towns of Fraser and Winter Park, with
responsibilities that include being a business resource, an advocate, and a dedicated individual within local
government to align, oversee and implement economic development strategies as determined and prioritized
by the respective Town elected officials.
• Review existing regulations and fee structures in the communities to insure consistency with policy intent.
Conduct a regular assessment survey of local businesses, built upon the Grand Profile, to gather information
• Support efforts of local employers to obtain a trained and skilled workforce, while recognizing that this action
requires continued attention to attainable housing (see Housing Strategy above)
• Expand the Commercial Enhancement Grant Program in both communities with a targeted grant amount
each year that is designed to grow the reach of the program from current levels
• Continue to make downtown improvements in both Fraser and Winter Park to enhance the sense of
community identity and a sense of progress and attention to quality
• Implement the integrated brand platform through all messaging under business recruitment (see brand
platform below)
r 'e c u.
CNAh18 ER
Support existing businesses while also strategically
recruiting businesses to the Fraser Valley
• Develop cooperative relationships and cultivate a network of appropriate referral resources for
emerging companies that includes basic industries from the Front Range such as marketing, finance,
intellectual property and technology. This action is generally not intended to encourage relocation of
these companies; rather, the strategic efforts will be directed at creating an awareness of Grand
County as a lifestyle choice for growing companies and professionals, and particularly for the
millennial age segment (aged 18 to 34 in 2015). The effort could include fostering the creation of
appropriate work spaces, support services, and a refined brand message that could be something like,
"You live on the Front Range, come play and work from the Fraser Valley"
• Attract diverse employers that contribute to the overall quality of the communities
• Recruit location neutral businesses and/or professionals
• Initiate a program to use community events (i.e. concerts, cultural, sports, etc.) as a place for business
recruitment
• Identify missing retail or professional service companies and provide this information to residents and
visitors using available sources to develop a list of target businesses
• Coordinate efforts with those in the Grand County Office of Economic Development and local realtors/
commercial real estate owners to encourage publicity and use of the Grand County site selection tool
to catalog available vacant land/store fronts
• Implement the integrated brand platform through all messaging under business development (see
brand platform below)
c 26
--
� � � CIiAMBER
Support existing businesses while also strategically
recruiting businesses to the Fraser Valley
• Develop an integrated brand platform focusing on business retention and recruitment.
Messaging for business retention should stress the quality of life and business
opportunities presented by the Fraser Valley. This message will be framed using
information obtained from the community data source such as the Grand Profile
stressing recreation, safety, locational advantages relative to other mountain towns, a
small town lifestyle, a support business environment, etc.. Messaging for business
recruitment should reinforce the Fraser Valley brand and identities of the towns of Fraser
and Winter Park, as a means of communicating the quality of life, growth, opportunities
and the shared vision for the region
• Develop a consistent marketing message as part of the brand platform that stresses the
quality of life and business opportunities presented by the Fraser Valley. This message
will be framed using information obtained from the community data source such as the
Grand Profile stressing recreation, safety, locational advantages relative to other
mountain towns, a small town lifestyle, a support business environment, etc.
• Create a shared website to promote business retention and expansion, as a new site
targeting the Fraser Valley specifically and work with the Colorado Office of Economic
Development and International Trade for business retention/expansion program support
6 T., FUN BEGINS WINTER
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r Valley r
27
.0 ERASER
CHAF BER
Support existing businesses while also
strategically recruiting businesses to the
Fraser Valley
• Continuation of Grand Profile project to maintain data
• Attainable Housing efforts
• Expansion of Commercial Enhancement Grant Program
• Creation of Young Professionals Group
• Attraction of investors for Stitzmark properties and
Beaver Village properties
• DestiMetrics Program
• Bi -Monthly Economic Newsletters
• Continued collaboration with EDD, SBDC and other
economic development groups
A.
♦ I ♦ Rec
t6c
PARK ,
ERASER '�
CNANBER
Support existing businesses while also
strategically recruiting businesses to the
Fraser Valley
Next Steps
• Development of Business Brand Platform to
implement additional specified strategies
• Development of Business Brand Assets
(website, print materials, etc)
• Develop strategies and execute promotion
of Business Brand in order to recruit new
businesses
Rec
• a• PARK
29
ERE THE FUN BEGINS
ERASER
CHAMBER
N ext •Recommendation
St
eps from RRC/EPS
• ?he cawultant lean request and recammendatiorw:
• Endorsement of the Plan by your organization
• Formalizing with your staff efforts to male the Plan
a part of work plans in 2015/16 and beyond
• Anticipating a joint meeting to review progress
within six months
• Other:
���J' :F- Fraser Valley Rec WfNTER
�I4PARK30
W14EXE THE FUN ` GINS
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Recommendation from RRC/EPS
_ A
• Adoption of the plan by the Town of Winter Park, Town of
Fraser, Fraser Valley Metropolitan Recreation District and
the Winter Park & Fraser Chamber
• Continued staff enhancements by the Town of Winter Park
to execute provisions on the Plan
• 2016 Winter Park & Fraser Chamber Economic Development
work plan
• Town of Fraser has submitted grant for Downtown
Assessment
• FVMRD Strategic Plan
PARK31
WHERE THE FUN BEGINS
-OR A D 0 CNAMBE0.
Recommendation from RRC/EP
• Endorsement of Winter Park & Fraser
Chamber work plan
• Bi -Annual convening of the Plan working
group
• Annual Joint Meetings
• Bi -Annual Economic Newsletter &Economic
Summit highlighting successes and efforts
Rec
�C�tPARK32
c 4140%1-lp
ERASER
CHAMBER
Additional Priorities
• Improve K-12 education opportunities
• Improve access to quality healthcare in the Fraser Valley
• Pursue advanced education opportunities for post -secondary
students
• Increase business recruitment
• Increase the availability of early childhood education
opportunities
• Focus on creating a quality of life that is attractive to younger
generations
• Increase the availability of adult education opportunities
• Increase the opportunities for seniors
. WINTER
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Town of Fraser
Housing and Development Study
May 18, 2016
Presented by:
Wendy Sullivan
WSW Consulting
Christine Walker
Navigate, LLC
Purpose of Study
A.Define and Quantify Attainable Housing Needs
B.Local Development Environment:
1.Development codes
2.Cost to “Develop” (different from “build”)
a.FRODO specific (ownership)
b.Other mountain communities (rentals)
C.Local Housing Resources
Housing Trends and Needs
Housing Spectrum: 2015
What is “Attainable Housing”
30% of income for rent/mortgage
Housing Needs
Maximum Affordable Maximum
AMI Range
Sale PriceAffordable Rent
<50%$115,700$780
50% to 80%$185,200$1,250
80.1 to 100%$231,400$1,560
100.1 to 120%$277,600$1,870
120.1 to 140%$323,900
Over $1,870
Over 140%Over $323,900
Key Trends
Decreased local occupancy of homes
Occupied Housing Units: 2000 & 2010
100%
Grand CountyFraser
% of Housing Units that are
90%
80%
65.9%
70%
Occupied
60%
49.3%
46.6%
50%
40.3%
40%
30%
20%
10%
0%
20002010
Year
Key Trends
Majority Renter-Occupied
Owner-and Renter-Occupancy:
Fraser 2010
Owner-
occupied
Renter-
47%
occupied
53%
Key Trends
64% of Fraser workers live in the Fraser area;
40% of Fraser Valley workers live in the Fraser area.
Distribution of Jobs and Households in
Grand County: 2010
% of Jobs or Households in
60%
% of Jobs% of Households
48%
50%
Grand County
40%
32%
31%
30%
25%
24%
16%
20%
12%12%
10%
0%
Zip Code Area
Key Trends
Rents are rising;
Vacancies are dropping;
Fewer units were available this ski season;
Low comparative turnover this spring.
Available Rentals by AMI Affordability: August 2015
Maximum
Units Available
Affordable Rent
<50% AMI$7800
50-80% AMI$1,2502
80-100% AMI$1,5606
100-120% AMI$1,8702
Over 120% AMIOver $1,8703
TOTAL-13
Key Trends
New housing product is NOT being built for locals:
15% of homes built since 2000 are owned by persons
•
with a local address;
13% of homes valued over $350,000 are owned by
•
persons with a local address;
Locals compete with second homeowners at all price
•
points (unique).
Development Environment
Downtown Fraser Mixed-Use Block
(FRODO)
FRODO Development Costs
ResidentialPer Sq. FtPer Unit
Land Acquisition$540,000 $23 $28,000
Soft Costs$800,000 $34 $42,000
Hard Costs$6,190,000 $262 $326,000
Financing Costs $190,000 $8 $10,000
Sales Costs$300,000 $13 $16,000
Owner's Contingency (10%)$820,000 $35 $43,000
TOTAL$8,840,000 $375 $465,000
Development Cost Comparison
Construction CostsDevelopment Costs
UnitsPer Sq. FtPer UnitPer Sq. FtPer Unit
FRODO Pro forma19$227 $280,000 $375 $465,000
Pinewood II45$229 $144,000 $393 $248,000
Huron Landing26$227 $187,000 $476 $392,000
Sitzmark*42$230 $225,000 $359* $350,000
*Costs for Sitzmarkare estimated from inputs provided by the town of Winter
Park for 42 attainable condominium rentals. Development cost per square foot
shown for Sitzmarkis conservative.
Concessions other communities make
for Attainable Housing
Provide land
•
Secure long-term funding source (various taxes,
•
impact fees, voluntary transfer fee)
Offer In kind services (management, financial, legal)
•
Make Infrastructure upgrades (sidewalks,
•
water/sewer main improvements, parking, roads)
Waive fees (building, development, water/sewer
•
hookups)
Facilitate financing mechanisms (bonds, COPs,
•
LIHTC)
Recommendations
Recommendations
There is no “silver bullet”
A.Strategic housing plan/program
1.Goals and objectives –community vision
2.Strategy prioritization
3.Regular program evaluation
B.Housing and program management
1.Build capacity to develop and oversee housing
2.Includes staff commitment, partnerships and collaboration
Recommendations
C.Development Code Amendments to Encourage
Attainable Housing (“Open for Business”)
1.Reduced development standards for attainable housing
(parking, set backs, etc.)
2.Fee waivers for attainable housing (development, building,
driveway permits, etc.)
3.Attainable housing density bonuses
4.Streamlined process
5.Permit on-site employee housing
6.Zone for density where wanted
7.Clear annexation policies (fees, units)
8.Development agreements (fees, units)
9.Possible Inclusionary Zoning (long-term)
Recommendations
D.Accessory Dwelling Unit Amendments
1.Permitted use, reduced size, decreased requirements for
attainable rentals
E.Upgrade Town Infrastructure
F.Preserve and Upgrade Existing Resident Housing
1.Mobile home parks (and/or tiny homes)
2.Buy-down program/rehab (land bank opportunity)
3.Sweat-equity/Fixer-upper programs (Habitat, etc.)
Recommendations
G.Affordable Housing Fund with Dedicated Revenue
Source
1.Real estate transfer assessments
2.Linkage fee
3.Sales/Property taxes
H.Utilize Town-Owned Land for Workforce Housing
I.Adopt Workforce Housing Guidelines
1.Define what attainable housing is for the town and developers
Questions?
-Thank You -
Questions?
-Thank You -
Key Trends
Housing in Fraser is not affordable…
Average Sale Price
Income needed to afford average home
Median household income (County)
Average wage (County)
$450,000$350,000
Average Single Family Home Sale Price
$427,000
$400,000
$300,000
Household Incomes and Wages
$350,000
$250,000
$300,000
$200,000
$250,000
$200,000
$150,000
$198,200
$150,000
$100,000
$115,000
$100,000
$78,000$78,000
$50,000
$50,000
$53,500
$31,600$31,600
$0$0
Single FamilyMulti Family
Public Sector Costs
ResidentialPer Sq. FtPer Unit
Real Estate Broker$278,000 $12 $14,632
Owner's Representative$195,000 $8 $10,263
Surety Bonds$54,000 $2 $2,842
TOTAL$527,000 $22 $27,737
Cost Saving Measures
Potential Reductions in Residential Per Sq. Ft Per Unit
Development CostsPortion(23,600 total)(19 total)
Purchase the land$540,000 $23 $28,421
Waive water/sewer plant fees$289,000 $12 $15,211
Sell units or partner with GCHA$275,000 $12 $14,474
Provide construction financing$180,000 $8 $9,474
Build duplexes to remove fire
$165,000 $7 $8,684
sprinklers
In kind services*$100,000 $4 $5,263
Install public easement
$60,000 $3 $3,158
improvements**
Streamline entitlement process$50,000 $2 $2,632
Waive Use Tax (4%)$48,000 $2 $2,526
Waive planning/building permit fees$26,000 $1 $1,368
TOTAL POTENTIAL REDUCTIONS$1,733,000 $73 $91,211
*This includes legal, construction material staging, site preparation, hauling, etc.
**This includes sidewalks, landscaping, and exterior lighting within the street front easement.