2000 S Planning - Proposed Contract for Student Generation Rate and Impact Fee Study

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Work Product: , Capital Improvement Needs Accommodating New Growth Task 4. Calculate"Credits" to be Applied Against Capital Costs. A consideration of "credits" is an integral part to the development of a legally valid impact fee calculation methodology. There is considerable confusion among those who are not immersed in impact fee law about the definition of a credit and why it may be legally or equitably required. There are, in fact, two (2) types of"credits," each with specific, distinct characteristics, but both of which will be included (or, at least considered) in the development of all impact fees. The first is a credit due to possible double payment situations. This could occur when future contributions are made by the property owner toward the capital costs of the public facility already covered by the impact fee. The second, which we will call an adjustment (as opposed to a credit), is a credit toward the payment of an impact fee due for the required dedication of public sites and/or public improvements provided by the developer and for which the impact fee is imposed. As indicated in the RFP, this task will credit, as appropriate, new development based on housing type and value with public school facilities costs already incurred through property taxes, sales taxes and other sources of funding. Work Product: See Impact Fee Report Below Task 5: Conduct Funding Source and Cash Flow Analyses. In order to calculate the feasible capital improvements needs required by each school district over time as development occurs, it is important to evaluate the anticipated funding sources. In this subtask, we will prepare a cash flow analysis which indicates the sources of funding, independent of impact fees. This calculation will allow the County and each district to better understand the various revenue sources available, including impact fees and the additional amount which might be needed if the impact fees were not adopted or were discounted. It will also provide a good understanding of the cash flow needed to cover the capital facilities both for existing and new development. The initial cash flow analysis will indicate whether additional funds might be needed or whether the capital improvements schedule might need to be changed. This could also affect the total credits calculated in the previous task. Therefore it is likely that a number of iterations will be conducted in order to refine the cash flow analysis reflecting the capital improvement needs. We believe that this is an extremely important component of an impact fee analysis; and, that the absence of this analysis frequently distorts the impact fee analysis and fee schedules. Work Product: Cash Flow Analyses Reflecting Public School Capital Improvement Needs and Applicable Impact Fees Task 6: Complete Impact Fee Methodology and Calculation. The completion of the above tasks will enable the impact fee methodology to be appropriately and equitably determined and finalized. Per the RFP, the impact fee that results from this methodology 6