Agenda - 09-02-1997 - 9e - Laserfiche WebLink

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28 Y FISCAL IMPACT ANALYSIS FOR UNIVERSITY MANOR SUBDIVISION RESIDENTIAL SERVICE STANDARD APPROACH Prepared by The Orange County Planning Department July, 1997 PROJECT DESCRIPTION University Manor is located in Chapel Hill and Eno Townships. The total area to be developed contains 595 acres. A total of 261 lots were proposed in the Concept Plan. The lots are accessed by new public roads which will connect with NC 10, New Hope Church Road and University Station Road. The current zoning is R-1 Rural Residential. Lots will be served by individual septic systems and a community well system. Phase 1, approved in December, 1995, contained 47 lots. Phase 11, approved in November, 1996, contained 61 lots. Phase III contains a total of 123 lots, 72 of which are included in this Preliminary Plan. A separate Preliminary Plan will be submitted at a later date for the remaining portion of Phase III. Phase IV, located on the north side of NC 10 between NC 10 and the Southern Railroad will include up to 50 lots. Units will consist of detached single-family homes, and the applicant estimates the average sales price to be $300,000, 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.