Agenda - 05-26-1992 - Laserfiche WebLink

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1 Impact Fees --specific Improvements one means of reducing the affect is to levy impact fees only for certain improvements. In Broward County, Florida, the $451 impact fee for a single- family home represents only the capital costs associated with school site acquisition. As a local example, Tables 24 and 24 show the capital cost per student and per household for land acquisition only. In the Chapel Hill - Carrboro School District, an impact fee for this purpose would be $390 for a single - family home before any adjustments. In the orange County School District the impact fee would be $149, reflecting the lower land costs in that district. Im act Fees - RedUced Fee schedules Another means of reducing the affect of impact fees on housing affordability is to adopt a schedule lower than the calculated fees. In Anne Arundel County, Maryland, impact fees of $3,204 were initially adopted for a single- family home. That amount represented 56 percent of.,the calculated fee and was an attempt by the governing board of that jurisdiction to phase in impact fees over a period of years. Locally, several options are available for establishing a - lower impact fee schedule. In its deliberations, the School Bond Committee actually identified a need for $53.0 million to initially finance the cost of one new high school and two new middle schools - in the CIP period.(This amount does not include $2.0 million to be included as part of the bond issue and needed for technology; e.g., computerization, improvements.) However, the bond issue proposed for November, 1992 is limited to $50.0 million for the schools. To make up the shortfall, impact fee schedules could be set to raise the difference of $3.0 million. Of the total, $2.0 million is needed by the Chapel Hill- Carrboro School District and $1.0 million is needed by the Orange County School District. As indicated previously, another bond issue will have to be put up for voter approval near the end of the CIP period. Funding obtained through approval of the bond issue would be used to finance the cost of two new elementary schools, one for each school district. The actual need identified by the School Bond Committee, however, is for $26.0 million dollars, not the $24.0 million ($12.0 million per school) to be put up for voter approval. Again, to make up the shortfall, impact fee schedules could be set to raise the difference of $2.0 million. Of the total, $1.0 million is needed by each school district. Shown on Tables 26 and 27 are calculations yielding a schedule of impact fees which would raise $2.0 million and $3.0 million, respectively, to meet the funding shortfall in the Chapel Hill - Carrboro School District. Tables 28 and 29, respectively, identify what the schedule of impact fees would be to meet the $1.0 and $2.0 million shortfalls in the Orange County School District. Page - 19