The Plan

Fieldstream Village will be centered around a village-type commercial core with a central green and commercial space that will be accessible to residents as well as neighbors from surrounding communities.

Community Plan

The residential side of Fieldstream Village will be up to 1,500 market-rate apartments that will add to the housing stock in east Orange County.

From a design perspective, the emphasis will be on pedestrian-friendly spaces and open areas where families can safely gather. Pedestrian access from outside the community to the commercial center of Fieldstream Village will be ensured.

Tax-Increment Financing to Clean up Abandoned Landfill (click here for history of landfill) 

A creative solution for financing infrastructure expenditures

Cloyd’s Landfill remediation

Estimated cost to excavate & remediate Cloyd’s Dairy Landfill
CLEAN UP $16,000,000
Import Fill $4,000,000
ROW Acquisition
Subtotal $20,000,000
10% Contingency $2,000,000
Interest Reserve $2,000,000
Construction MGT 5% $1,000,000
TOTAL $25,000,000

How to pay for remediation

Alternatives
Private financing Public-private financing
Bank loan Tax Increment Financing
Likely higher interest rate Lower interest rate via tax-free bonds
Increased project risk/Financing may be subject to “lender call” Secures project funding for a long-term basis

How TIF Financing Works (The Basics)

  • Orange County & Developer draw boundary around ‘TIF District.’

  • Base year established; property taxes from base year continue going to the County.

  • Project proceeds. Over time, property values rise in the ‘TIF District’

  • To repay the TIF loan, a portion of the increased tax revenue from the improved property in the TIF District

  • Once the TIF loan is repaid, the TIF District ‘sunsets,’ and the full property tax revenue accrues to Orange County

Lake Underhill Road Widening

These images represent the plans being submitted to Orange County that demonstrate how Lake Underhill Road can be improved. These improvements will accommodate the future Fieldstream Village as well as additional traffic generated by growth in East Orange County.