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!= raig Sene ict = bCSchF'ee.doc ~~.,~_~~ .; Page 29 <br />S4 <br />School Im,vact Fees <br />Orange County. North Carolina <br />the outstanding balance. The developer must provide sufficient documentation of the <br />actual cost incurred for the system improvement. Orange County should only agree to <br />pay the lesser of the actual capital cost or the estimated cost used in the impact fee <br />analysis. If the County pays more than ,the cost used in the fee analysis, there will be <br />insufficient fee revenue. Reimbursement agreements should only obligate Orange <br />County to reimburse developers annually according to actual fee collections from the <br />benefiting area. <br />~' Appendix A -Cash Flow Analysis <br />The cash flow analysis documents projected capital costs and revenues for public <br />schools based on the growth forecast for Orange County. Actual costs and revenues <br />will vary with fluctuations in building permit activity. Also, the projected capital costs are <br />only a portion of total capital projects, which may include renewal and replacement <br />items (e.g., replacing the roof on an existing school). <br />Detailed demographic data used in the cash flow model are summarized in Figure A1. <br />See Appendix B for an explanation, of projection methods and data sources. <br />Figure A7 -Demographic Data <br />29 <br />