03-27-2002 Council Agenda - Laserfiche WebLink

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Functional Analysis March 21, 2002 Page 8 (3) I-Iow many of these buildings should be classified as outbuildings? (4) How many of the remaining buildings qualify as structurally substandard? Developed Parcels This factor is not a limitation for the study area. The only parcel in the study area that is not developed with buildings is the park and ride in the northeast quadrant. It could be interpreted that the park and ride qualifies as "other improvements ". Number of Buildings The number of buildings is an important determination because it sets the threshold for the number that must be found structurally substandard. The statute does not define the term "outbuilding ". The dictionary defines it as "a building separate but associated with a main building ". For a residential property, detached garages and storage sheds are typically classified as outbuildings. The application for non - residential parcels is not so clear. Substandard Buildings The number of structurally substandard buildings shapes the size of the TIF District. Since the statutes require that more than 50% of the building fit the criteria for structurally substandard, a portion of the buildings can be non - qualifying. The County site provides a good illustration. We have assumed that there are two separate buildings on the County site. If both are found to the structurally substandard, then one other non - qualifying building can be included in the TIF district. Renovation /Renewal If the Redevelopment TIF District does not fit the implementation needs of the project, a Renovation and Renewal TIF District provides an alternative. This district requires a reduced number of structurally substandard buildings. The statutory definition for a Renovation/Renewal District includes the following language: (a) "Renewal and renovation district" means a type of tax increment financing district consisting 0/0 project, or portions ofa project, within which the audrority finds by resolution that: (1) (i) parcels consisting of 70 percent of the area of the district are occupied by buildings, streets, utilities, or other improvements; (it) 20 percent of dre buildings are st'ricaually substandard; and ('nit) 30 percent of the other buildings require substantial renovation or clearance to remove existing conditions such as: inadequate street layout, incompatible uses or /arid use relationships, overcrowding of buildings on the land, excessive dwelling unit density, obsolete buildings not suitable for improvement or conversion, or other identified hazards to the health, safety, and general well -being of the community The same two structurally substandard buildings used in the previous example would allow 19