Agenda - 01-27-2015 - 1 - Laserfiche WebLink

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January 21, 2015 Attachment C H. School Impact H -1. Abstract of School Impact Scenarios The school fiscal impact of the Ephesus - Fordham project was variable based on a wide range of student generation assumptions in April of this year. The range was from 105 to 450 students not knowing what product type was being considered and using relatively old student generation rates. A new study had been commissioned and was in progress over the summer and early fall to analyze Student Generation Rates (SGR) with a higher degree of specificity using housing type and bedroom count which was not used in earlier studies. This was completed on October 28, 2014. On November 6, 2014 the Schools Adequate Public Facilities Ordinance Technical Advisory Committee (SAPFOTAC) met to discuss the technical aspects of the report before the committee would comment on the changes in the rates, the impacts, the schedule for elected official review, applicability and implications for further study, existing school impacts fee and the implementation of these findings if adopted. Although the proposed SGR's are not adopted, some scenarios can be developed to compare existing rates (Scenario A) and two other scenarios B and C to review the school impact of Ephesus - Fordham based on a few assumptions of housing type and bedroom count. Scenario B assumes all units to be multi- family and 0 -2 bedrooms using proposed SGR's. Scenario C assumes multi- family units to be a mix of 77.5% 0 -2 bedrooms and 22.5% 3+ bedrooms. Accordingly, these scenarios provide a more in depth review of the potential impacts when reviewing a specific scenario. However, it is very important to remember these rates are unadopted and only reflect SGR's over the last ten years and a formal study of how these recent rates would affect the necessary overall basis of school impact fee rates is yet to be determined. As a related note, adopted school impact fees were developed and amended from time to time since their inception in the late 90's and invariably, the fee did not pay for the 100% impact of the student generation that came from a housing type [i.e. maximum supportable impact fee (MSIF)]. The fee in most cases only escalated to account for about 60% of the MSIF. The higher cost of new schools after the development of an impact fee structure further reduces the `actual' percentage recovery. Each scenario was developed in four parts: 1. Impact Fee Assessment, 2. Student Generation Rate Calculation, 3. Cost Recovery, 4. Capital / Operating Review. 7 13