Fiscal Neutrality Change Approved.

Todays News

Following hours of testimony, Sarasota County Commissioners late Wednesday approved a change in fiscal neutrality that loosens requirements on developers. The board voted 4-1 in favor of the change, the most prominent of amendments to the Sarasita County 2050 Plan approved last night.

Developers have complained that the fiscal neitrality requirements as written make financing of projects impossible. Fiscal neutrality rules in the 2050 plan require developments east of Interstate-75 in designated areas to show that infrastructure costs associated with a development are covered by the developer instead of shifting the burden to taxpayers. As originally written requires neutrality standards be met by phase. The change approved Wednesday night would allow a development in early phases not to be neutral in cost if the plan over the duration of all phases is neutral.

"To use fiscal neutrality to stop a project after it has been approved prevents any large-scale development from getting financing," said Commission Chairman Charles Hines.

But Commissioner Nora Patterson, the lone dissenting vote, fears the change doesn't provide enough accountability. She said the original language probably needed some update to allow projects to get financing, but said the change is premature because a new proven methodology for calculating neutrality has yet to be completed. "I'm not going to be able to look at this transparent methodology," Patterson said, noting any process will be developed after she retires from the board in November.

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