FISCAL IMPACT ADVISORY COMMITTEE

FACT SHEET [PROPOSED]

 

 

Mission

 

The Fiscal Impact Advisory Committee (FIAC) is appointed by the Board of Supervisors (BOS) to provide advice to the Board of Supervisors on the development, implementation, and uses of the County’s official tools for measuring the fiscal impact of development.  The Committee’s goal is to foster a well-informed, thoughtful, and constructive dialogue on the fiscal impact of development, thereby contributing to rational decision-making.  Fiscal impact, in this context, refers to the dollar value of the public costs and revenues associated with development. 

 

Objectives

 

FIAC has two primary objectives:  (1) To enable the relevant and accurate fiscal impact analysis of the County’s aggregate development; and (2) To facilitate the relevant and accurate fiscal impact analysis of site-specific development proposals.  FIAC’s goal in both cases is to contribute to rational decision-making by providing accurate and relevant fiscal impact information to the Board of Supervisors. 

 

Responsibilities

 

§      Ensure that the assumptions behind the County’s official tools of fiscal impact analysis are open to scrutiny and discussion from a cross-section of community interests;

 

§      Ensure the community of the credibility of the County’s official tools of fiscal impact analysis, by providing oversight and management as the County uses its official tools of fiscal impact analysis to analyze various growth scenarios and development projects;

 

§      Review for validity and accuracy any and all existing and proposed data changes or updates to the County’s official tools of fiscal impact analysis;

 

§      Perform an in-depth assessment of three approaches to fiscal impact analysis, i.e., the marginal cost project analysis, the average cost trend analysis, and the marginal cost trend analysis and certify the accuracy of these tools prior to their use in any projections submitted to the Board or the public;

 

§      Work with the Fiscal Impact Planner on a regular basis to ensure the ongoing validity and accuracy of the County’s official tools of fiscal impact analysis;

 

§      Ensure that all fiscal impact analytical tools in use by the County are appropriate to the needs of the County, and are the very best tools available;

 

§      Review the suitability of alternate tools of fiscal impact analysis for potential use by the County.

 

§      Advocate the use of fiscal impact planning, by the Board of Supervisors and the Planning Commission, as an important input into development decision-making.

 

Membership

 

Members of the Committee are appointed by the Board of Supervisors for terms of two years, and are eligible to serve two consecutive terms, unless otherwise modified by the Board of Supervisors.  Appointments may be staggered for continuity.  The Assistant County Executive, the Director of Planning, the Director of the Office of Management and Budget, and the Fiscal Impact Planner are non-voting ex officio members of the Committee.

 

Operating Model

 

The Committee meets six times per year, on the second Wednesday of the months of January, March, May, July, September, and November.  Meeting agendas and associated materials will be developed and distributed at least one week in advance by the Fiscal Impact Planner.  Meetings will be run by the County’s Fiscal Impact Planner.

 

Action Plan

 

At each July FIAC meeting, the Fiscal Impact Planner will submit an annual work plan to FIAC for the Committee’s review, comments, and suggestions.

 

 

cc of appointment letter to:   Roxanne White

      County Attorney

      Commonwealth’s Attorney.

 

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