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26 <br />EXPLANATION OF TERMS AND DATA SOURCES <br />SECTION 1 - PROJECT DATA <br />Project data includes information about the specific development project. <br />Much, if not all, of the information is supplied by the applicant. Data inputs include: <br />Project Name: Name of the project. <br />Township: Township in which the project is located, <br />School District: School district in which the project is located. <br />Beginning Year: The first year of the project in which dwelling units are completed <br />and occupied. <br />Ending Year: The last year in which dwelling units are completed and occupied. The <br />template is set to calculate fiscal impacts for a ten -year period. <br />Inflation Rate: Unless an inflation rate is entered, the template will calculate fiscal <br />impacts based on constant dollars. Since the inflation rate changes frequently, the <br />Finance Department must be contacted for the most recent figure, <br />Persons /Household: The estimated average number of persons /household (dwelling <br />unit) based on 1990 Census data and studies of the number of students per <br />household for the school district in which the project is located. The most recent <br />studies include A Study of Housing Characteristics and Student Generation Rates for <br />Orange County, N.C. (1995) and Technical Report: Calculation of Proportionate <br />Share Impact Fees for Financing Public School Capital Needs, Orange County, N.C. <br />(1996). <br />Children /Household: The estimated average number of school age <br />children /household (dwelling unit) based on studies of the number of students per <br />household for the school district in which the project is located. The most recent <br />study is A Study of Housing Characteristics and Student Generation Rates for Orange <br />County, N.C. (1995). <br />% Non - Elderly: N.C. General Statutes permit an $11,000 exemption to the elderly and <br />disabled who meet certain income criteria. In the event that elderly units are part of <br />the project, the percentage of eligible non - elderly units is entered. The tax base will <br />automatically be adjusted to reflect the exemption. <br />Number of Homes: The number of dwelling units to be constructed in the project in <br />each year. <br />