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MEMORANDUM <br /> TO: Marvin Collins, Planning Director <br /> FROM: Seth Wickham, Planner II <br /> DATE. December 14, 1993 <br /> RE: Updated Proportional Valuation Fiscal I-spact Tem2late <br /> An ongoing goal of the Board of County Commissioners is the <br /> assessment of impacts of growth and development on the <br /> environmental, economic and service resources of the County. In <br /> keeping with that goal, Staff has updated the Proportional <br /> Valuation Fiscal Impact template which is designed to measure the <br /> fiscal impact of nonresidential development. The original template <br /> for Orange County was developed in 1990 and is based on The Fiscal <br /> Impact Handbook by Robert Burchell and David Listokin. Burchell <br /> and Listokin's work is often cited as the basis for many fiscal <br /> impact studies, including the Dupage County, Illinois study which <br /> has been referred to in many recent discussions on fiscal impact. <br /> Like all methods of fiscal impact analysis; the Proportional <br /> Valuation Method is a projection of the direct, current public <br /> costs and revenues associated with nonresidential (residential) <br /> growth to the local jurisdiction in which the growth is taking <br /> place. The Proportional Valuation Method involves a two step <br /> process to assign a share of the jurisdiction's costs to a new <br /> commercial or industrial development. As the name implies, the <br /> template is based on proportions - the proportion of total <br /> nonresidential real property value to the total real property <br /> value, and then costs that would be incurred by the County based on <br /> the value of the new development. <br /> Attached are fiscal impact analyses for four existing <br /> commercial/industrial developments in Orange County. Attempting to <br /> represent a variety of nonresidential types, I included the <br /> following: <br /> Parker-Hannifin Light Industrial <br /> Vietri,Inc. Distribution <br /> Overlook Executive Offices Office Space <br /> Walmart Retail <br /> Although there are significant differences in the net fiscal <br /> impacts of each, they are all positive. Walmart has the greatest <br /> positive fiscal impact, obviously because of the sales tax revenue. <br /> Parker-Hannifin, with high equipment tax, has the next greatest <br /> positive fiscal impact, although depreciation results in a decrease <br /> over time. New equipment purchases will bring that figure back up. <br /> Both Vietri and Overlook Executive Offices, although not as <br /> significant an impact, show steady increases. <br />