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16 <br /> • amend the Ordinance to repeal the impact fees as adopted on November 15, 2016, but <br /> keep in place the fees for age restricted units and smaller sized single family detached <br /> units, <br /> • reinstate the impact fees to the amounts those fees were beginning January 1, 2012, <br /> • repeal the grandfathering resolutions adopted on December 13, 2016 and April 4, <br /> 2017, <br /> • authorize the reimbursement of that portion of any impact fee in excess of the amount <br /> of the corresponding impact fee as it existed on June 30, 2016 and that was paid from <br /> January 1, 2017 through May 16, 2017, and <br /> • self-impose a one year moratorium on increasing the amount of the impact fees. <br /> Utilizing data from the TischlerBise study, staff calculated that multifamily apartment <br /> complexes <br /> that lease primarily to college students, particularly graduate students, do in fact have a <br /> student <br /> generation rate greater than zero. Should the Board choose to add a provision to the <br /> ordinance <br /> for multifamily student housing restricted units an appropriate fee level will be $955 per unit for <br /> units within the Chapel Hill-Carrboro City Schools District and $788 per unit for units within the <br /> Orange County Schools District. These amounts were calculated by analyzing existing units of <br /> this type in the county and their associated student generation rates. <br /> Staff makes this recommendation to bring the ordinance into compliance with the apparent <br /> intent of the General Assembly and to allow time to study and collect data on issues related to <br /> the Ordinance. <br /> Legal advertisements for the public hearing were run on May 3 and May 10, in accordance with <br /> statutory requirements. <br /> FINANCIAL IMPACT: The rollback of school impact fees to June 30, 2016 as compared to new <br /> fees imposed on January 1, 2017 will decrease projected 2017-18 school impact fees <br /> revenues <br /> by approximately $150,000 for both school districts combined. An annualized amount could be <br /> approximately $300,000 but in the current year budget only one-half the year (i.e. 1/1/17 to <br /> 6/30/17) was subject to the new fee structure. These projected numbers are derived from a <br /> variety of assumptions including an estimated number of units per year and a unique <br /> percentage mix of housing types per school district. <br /> Recent analysis portends that the decrease would be less than even the projected $150,000 <br /> because of the `grandfathering' provisions that allowed certain `approved' projects to utilize the <br /> prior 2016 rate. The BOCC adopted a `break even' fee structure in November 2016 that <br /> approximated total revenues from the old fees schedule and new fee schedule albeit with the <br /> redistribution of fees based on unit type and bedroom count that reflected commensurate <br /> student generation rates and impacts. <br /> Some reimbursements are anticipated where higher 2017 rates were permitted and paid in <br /> 2017. The amount is negligible in Orange County Schools since most units are single family <br /> and 2017 rates were lower in the short term and new multifamily construction had not occurred <br /> in this year's limited timeframe. Reimbursements in Chapel Hill/Carrboro school district are <br />