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✓ 299 Students <br /> 0 5 multi-family units generate one student <br /> • Capital (Potential Expenditures) <br /> ✓ $12,800,000 —51% of a school <br /> (cost $25m ±) <br /> Craig Benedict referred to the positives and negatives of the project and said that <br /> several perceived negatives can also be positives. He noted that possible congestion would <br /> actually help support the criteria required for the MPO to provide funding for traffic <br /> improvements. <br /> Craig Benedict referred to the slide on Orange County's participation and said the <br /> majority of the parcels in the area are almost 100 percent impervious and will have to pay into <br /> offsite funds to compensate for their inability to meet standards. He said there is interest in <br /> having some of the additional best management practices (BMP) turned into environmental <br /> aspects to be maintained by a municipal service district. He said a mechanism for maintenance <br /> is important. <br /> Craig Benedict noted that the school impact information uses hypothetical student <br /> generation rates that are in the books, but this may not be an accurate reflection of the future <br /> numbers. He said there is a wide range of variability with multi-family projects. He said the total <br /> number of projected units is 1495, but 198 of those units are being redeveloped and will be <br /> removed from the equation. <br /> Craig Benedict said a new student generation study was completed in November, and it <br /> showed an increase in development over the last 10 years. He said the 2007 numbers in all of <br /> the multi-family units showed only .07 students per unit. He said the new numbers are broken <br /> into categories by the number of bedrooms in the units. He said even the 0 to 2 bedroom <br /> numbers are higher than the 2007 projections. <br /> Craig Benedict said the County receives about$1,286 per unit with the current rates, <br /> which is very low. He said the school impact fees were never intended to cover the full cost of a <br /> student, but the number has been anywhere from 20-40 percent. He said, as we try to get <br /> closer to 60 percent, school construction accelerates, and the impact fee does not necessarily <br /> accelerate. He said scenarios B and C show that impact fees are an important revenue source, <br /> but they do not pay for the capital side of building the school based on the new development. <br /> Paul Laughton reviewed scenarios in their packet for the Fordham Financial Analysis- <br /> Based on Phases of Education. He said the first 2 scenarios have been presented to the Board, <br /> and the packet also includes scenario 3, which shows more of a cumulative effect. He outlined <br /> the following spreadsheet: <br /> Ephesus-Fordham Financia)Analysis (Scenario 1) <br /> Based on Phases 2s4.00 <br /> With Education 175.00 19.00 90.00 <br /> Phase 1 Phase 2 Phase 3 <br /> Percentage of <br /> Percentage County <br /> Fy14-15 of Services Revenues Revenues Revenues <br /> FY14-15 Allocated to <br /> Bud�et Bud�et Project $ 1,424,704.00 $ 154,721.00 $ 726,694.00 <br /> Governing and $ <br /> Management 17,550,772 8.99% 8.99% 128,066.00 13,908.00 65,322.00 <br />