Agenda - 12-04-1995 - VIII-F - Laserfiche WebLink

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i 10 FISCAL IMPACT ANALYSIS FOR TUPELO RIDGE SUBDIVISION, PHASE 11 RESIDENTIAL SERVICE STANDARD APPROACH Prepared by The Orange County Planning Department November, 1995 PROJECT DESCRIPTION Tupelo Ridge Subdivision, Phase II, is a proposed 12-lot subdivision located in Chapel Hill Township on the east side of Union Grove Church Road. Two of the proposed lots are in the County's Planning Jurisdiction. The remaining 10 lots are in the Carrboro Transition Area. The current zoning is RB -Rural Buffer and is in the University Lake Protected Watershed. Approximately 1.6 acres of open space at the entrance of the subdivision are proposed to be owned and maintained by a homeowners association. The average lot size is approximately 3.4 acres.All lots will be served by individual wells and septic systems, and a new public road. For Phase II of Tupelo Ridge, project build-out is estimated at three years. Housing units will be constructed, beginning in 1996, with completion of the project scheduled by 1999. Units will consist of detached single-family homes,and the applicant estimates the average sales price to be$300,000 per year, including the lot. A separate fiscal impact analysis was prepared in 1994 for Phase I of Tupelo Ridge, which also contained twelve lots. 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.