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Planning Department
Staff Report and Business Impact Statement
�o�lience Trust Funa - Ch. 62
Purpose:
The proposed amendment will create a new trust fund titled, "Resilience Trust Fund," which is intended to
facilitate density increases for properties within the Coastal High Hazard Area or Miami -Dade County Storm
Surge Planning Zones A, B, or C. Contributions to this trust fund will be used for capital improvements
projects intended to mitigate potentially adverse impacts of increased density in these areas by reducing
flooding, storm surge, and other resilience -related effects.
Estimated Direct Economic Impact:
• There is no compliance cost anticipated as contributions to the trust fund are voluntary
• The ordinance will create a contribution amount per bonus residential unit desired and is voluntary
• No significant regulatory costs are associated with managing the trust fund. Revenues generated are
hard to anticipate due to the voluntary nature of this trust fund.
Estimated Number of Businesses to be Impacted:
Since this trust fund is voluntary for developers and property owners to opt into, an estimated
number of businesses to be impacted cannot be determined.
Additional Information:
Trust fund contributions will be used in specified fund areas to ensure funds collected are spent on
improving the areas in which they were collected.
Recommendation: Approval