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2006 NS Planning - Consultant Contract - Education Facilities Impact Fees
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2006 NS Planning - Consultant Contract - Education Facilities Impact Fees
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Last modified
5/25/2011 4:39:41 PM
Creation date
9/24/2010 3:25:14 PM
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BOCC
Date
12/4/2006
Meeting Type
Regular Meeting
Document Type
Contract
Agenda Item
5n
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5 <br />Task 4. Calculate "Credits" to be Applied Against Capital Costs. <br />A consideration of "credits" is an integral part to the development of a legally valid impact <br />fee calculation methodology. There is considerable confusion among those who are not <br />immersed in impact fee law about the definition of a credit and why it may be legally or <br />equitably required. <br />There are, in fact, two (2) types of "credits," each with specific, distinct characteristics, but <br />both of which will be included (or at least considered) in the development of all impact fees. <br />The first is a credit due to possible double payment situations. This could occur when future <br />contributions are made by the property owner toward the capital costs of the public facility <br />already covered by the impact fee. The second, which we will call an adjustment (as <br />opposed to a credit), is a credit toward the payment of an impact fee due for the required <br />dedication of public sites and/or public improvements provided by the developer and for <br />which the impact fee is imposed. <br />This task will credit, as appropriate, new development based on housing type and value <br />with public school facilities costs already incurred through property taxes, sales taxes and <br />other sources of funding. <br />Work Product: See Impact Fee Report Below <br />Task 5. Conduct Funding Source and Cash Flow Analyses. <br />In order to calculate the feasible capital improvements needs required by each school <br />district over time as development occurs, it is important to evaluate the anticipated funding <br />sources. In this subtask, we will prepare a cash flow analysis which indicates the sources <br />of funding, independent of impact fees. This calculation will allow the County and each <br />district to better understand the various revenue sources available, including impact fees <br />and the additional amount which might be needed if the impact fees were not adopted or <br />were discounted. It will also provide a good understanding of the cash flow needed to cover <br />the capital facilities both for existing and new development. <br />The initial cash flow analysis will indicate whether additional funds might be needed or <br />whether the. capital improvements schedule might need to be changed. This could also <br />affect the total credits calculated in the previous task. Therefore it is likely that a number of <br />iterations will be conducted in order to refine the cash flow analysis reflecting the capital <br />improvement needs. We believe that this is an extremely important component of an <br />impact fee analysis; and, that the absence of this analysis frequently distorts the impact fee <br />analysis and fee schedules. <br />Work Product: Cash Flow Analyses Reflecting Public School Capital Improvement <br />Needs and Applicable Impact Fees <br />
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