Agenda - 05-26-1992 - Laserfiche WebLink

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1 I Two final adjustments are necessary to address benefit considerations. First, the adjustments [credits] identified in Tables 16 and 17 reflect adjustments based on revenue sources. The sum of these adjustments must be allocated to individual school types. This was accomplished by analyzing the methods of financing public school capital needs from FY 1987 -88 through FY 1991 -92. The amounts spent on public school capital needs are identified on Table 18 by funding method, school type, and school district. The total proportion of funding spent on each school type was then multiplied by the sum of all adjustments [credits] to allocate the that amount to individual school types. Finally, only certain types of schools are needed by each school district during the FY 1992 -93 to FY 1997 -98 period. For the Chapel Hill - Carrboro School District, elementary, middle, and high schools are needed. Thus, no further adjustment to the impact fees is required. For the Orange County School-District, however, only elementary and middle schools are needed. Thus, the capital costs and adjustments for a high school were deleted in determining the total amount of impact fees to be charged. The final impact fee calculations are shown on Tables 19 and 20 for the Chapel Hill- Carrboro and Orange County School Districts, respectively. The fees are summarized below and represent the maximum amounts that can reasonably be charged given the preceding analysis. IPage - 16 will never use or paying a higher proportion of impact fees than conditions warrant. ' To address these concerns, the methodology used to calculate impact fees for the county as a whole was employed to calculate separate impact fees for the Chapel Hill - Carrboro School District ' [Table 16] and the Orange County School District [Table 17]. One reason for differing impact fees stems from variations in persons per household, student generation rates, and housing values between school districts. Another reason is the variation in land cost. It ' should also be noted that the calculations for the Chapel Hill - Carrboro School District were based on 1990 Census data for Chapel ' Hill Township. While the township boundaries cover more area than those of the school district, the match is close, and the availability of recent census data for the township made separate school district calculations possible. I Two final adjustments are necessary to address benefit considerations. First, the adjustments [credits] identified in Tables 16 and 17 reflect adjustments based on revenue sources. The sum of these adjustments must be allocated to individual school types. This was accomplished by analyzing the methods of financing public school capital needs from FY 1987 -88 through FY 1991 -92. The amounts spent on public school capital needs are identified on Table 18 by funding method, school type, and school district. The total proportion of funding spent on each school type was then multiplied by the sum of all adjustments [credits] to allocate the that amount to individual school types. Finally, only certain types of schools are needed by each school district during the FY 1992 -93 to FY 1997 -98 period. For the Chapel Hill - Carrboro School District, elementary, middle, and high schools are needed. Thus, no further adjustment to the impact fees is required. For the Orange County School-District, however, only elementary and middle schools are needed. Thus, the capital costs and adjustments for a high school were deleted in determining the total amount of impact fees to be charged. The final impact fee calculations are shown on Tables 19 and 20 for the Chapel Hill- Carrboro and Orange County School Districts, respectively. The fees are summarized below and represent the maximum amounts that can reasonably be charged given the preceding analysis. IPage - 16