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3 <br /> FY 1993-94 ANNUAL REPORT <br /> ORANGE COUNTY EDUCATIONAL FACILITIES IMPACT FEE ORDINANCE <br /> December, 1994 <br /> Background <br /> The Educational Facilities Impact Fee Ordinance was adopted on June 7, 1993. The ordinance <br /> requires that a report be made to the Board of County Commissioners each year showing: <br /> • Where public school impact fees have been collected; <br /> • What projects have been constructed with such fees; and <br /> • What reimbursements have been made. <br /> The Board of County Commissioners is also required to review the report to determine if, within <br /> each benefit area, all areas of new construction are being benefitted by the fees. If the Board determines <br /> that areas of new construction are not being benefitted, then it must readjust the capital improvements <br /> program to correct the condition. If after review of the methods and data used to calculate the Schedule <br /> of Public School Impact Fees, the Board determines that adjustments are required in the Schedule, then <br /> it shall direct the County Manager and staff to prepare a report which outlines recommended changes for <br /> its consideration. <br /> Collection of Fees <br /> Public School Benefit Area Trust Funds. Public school impact fees collected by Orange <br /> County pursuant to this ordinance are kept separate from other revenue of the County. A separate trust <br /> fund has been established for each of the benefit areas corresponding to the school district boundaries <br /> illustrated on the attached map labeled Public School Benefit Areas. Revenues collected in each school <br /> district are shown in the table below. <br /> IMPACT FEE TRUST FUND REVENUES <br /> FY 1993-94 FY 1994-95 <br /> School District (7/1/93-6/30/94) (7/1/94-10/31/94) Total <br /> Orange County <br /> Impact Fees $ 111,750 $ 93,750 $ 205,500 <br /> Interest* $ 845 $ 0 $ 845 <br /> Total $ 112,595 $ 93,750 $ 206,345 <br /> Chapel Hill-Carrboro <br /> Impact Fees $ 219,750 $ 100,500 $ 320,250 <br /> Interest* $ 1,662 $ 0 $ 1,662 <br /> Total $ 221,412 $ 100,500 $ 321,912 <br /> *NOTE: Interest earned in FY 1994-95 has not yet been allocated to Trust Funds by the <br /> Finance Department. <br /> Source: Orange County Finance Department <br /> Annual Report 1 <br />