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million per year while the District has allocated a total of just over $2 million for <br /> the same period. The projects that the District has partially funded with impact <br /> fees over the last three years include Scroggs Elementary and Smith Middle <br /> Schools. In addition, interest earnings for the District are just over$811,000. <br /> Beginning with the current fiscal year, the projected amount to be collected in <br /> impact fees is almost $2.3 million per year. This projection reflects the impact <br /> fees of $4,407 per single-family dwelling and $1,979 for all other, residential <br /> dwellings, effective July 1, 2001. Prior to July, the impact fees for the District <br /> were $3,000 per dwelling. <br /> • Orange County Schools — The amount available in the OCS impact fee fund is <br /> $537,264. Over the past three years, annual collections have averaged about <br /> $385,000 per year. During this same period, the District has used impact fees to <br /> partially fund construction of Pathways Elementary (just over $1 million) and <br /> Cedar Ridge High School ($365,000). Interest earnings for OCS are about <br /> $300,000. <br /> In light of the July 1, 2001 increase in impact fees, annual collections for the OCS <br /> district are anticipated to increase significantly. Annual collections are projected <br /> to be about $1 million per year compared to the previous years' average of <br /> $385,000. This is a result of the impact fees for the District increasing from $750 <br /> per single dwelling unit to $3,000 for single-family dwellings and $1,420 for other <br /> residential dwellings. <br /> In accordance with the Impact Fee Ordinance, school construction impact fees can be <br /> used by each district for construction of new school space including new buildings or <br /> additions to existing buildings or otherwise converting existing buildings into new public <br /> school space where the expansion is related to new residential costs. These capital <br /> costs include actual building construction; design; engineering, and/or legal fees; land <br /> acquisition and site development; equipment and furnishings; infrastructure <br /> improvements; and/or debt service payments and payments under leases through <br /> which to finance such costs. <br /> I will be glad to answer any questions that you or the Board may have. <br /> Page 2 of 2 <br />