Agenda - 08-25-1997 - E1b - Laserfiche WebLink

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12 FISCAL IMPACT ANALYSIS FOR MILL POINTE SUBDIVISION- PHASES 3 through 7 RESIDENTIAL SERVICE STANDARD APPROACH Prepared by The Orange County Planning Department June, 1997 PROJECT DESCRIPTION Phases 3 through 7 of Mill Pointe Subdivision contain a total of 59 lots. Phases 1 and 2, approved in 1994 and 1995, respectively, contained a total of 10 lots Phases 3 through 7 are located in Cheeks and Cedar Grove Townships. The lots are accessed by new public roads which will intersect with the east side of Mill Creek Road (SR 1343). The current zoning is R-1 Rural Residential in Cheeks Township and AR Agricultural Residential in Cedar Grove Township. The average lot size is 1.9 acres. Lots will be served by individual wells and septic systems. Phases 1 and 2 have been completed. All lots have been developed with detached single-family homes. The average sales price, including the lot, was approximately $100,000. Build-out for phases 3 through 7 is estimated at five years. Housing units will be constructed at a rate of seven to twelve per year beginning in 1998, with completion of the project scheduled for 2003. Units will consist of detached single-family homes, and the applicant estimates the average sales price to be $105,000 including the lot. METHODOLOGY Fiscal impact analysis is a projection of the direct, current, public costs and revenues associated with residential and non residential growth in the jurisdiction in which the growth is taking place. Fiscal impact analysis considers only direct impact in that it projects only the primary costs that will be incurred and the immediate revenues that will be generated. It calculates the financial effect of a planned development or new subdivision by considering the current costs and revenues such a development would generate if it were completed and occupied today. Fiscal impact analysis does not consider the private costs of public action. It is concerned only with public(governmental) costs and revenues. The method used in preparing the fiscal impact analysis is the Service Standard Approach. While only gross expenditures by service category are derived from the Per Capita Method, the Service Standard method determines the total number of additional employees by service function that will be required as a result of growth. This method employs average county government costs per person, average school costs per pupil, an employee to population ratio, and average operating expenses per employee for each service category and school district. The number of new employees are projected and multiplied times the average operating expenses (includes personnel, operating and capital costs) per employee. These average costs are then weighed against per capita and per pupil revenues to project the total net fiscal impact of the development.