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EXPLANATION OF TERMS AND DATA SOURCES <br />SECTION 1 -PROJECT DATA <br />Project data includes information about the specific development project. Much, if not <br />all, of the information is supplied by the applicant. Data inputs include: <br />Project Name: Name of the project. <br />Township: Township in which the project is located. <br />School District: School district in which the project is located. <br />Beginning Year: The first year of the project in which dwelling units are completed and <br />occupied: <br />Ending Year: The last year in which dwelling units are completed and occupied. The template <br />is set to calculate fiscal impacts for aten-year period. <br />Inflation Rate: Unless an inflation rate is entered, the template will calculate fiscal impacts <br />based on constant dollars. Since the inflation rate changes frequently, the Finance Department <br />must be contacted for the most recent figure. <br />Persons/Household: The estimated average number of persons/household (dwelling unit) <br />based on 1990 Census data and studies of the number of students per household for the <br />school district in which the project is located. The most recent studies include A Study of <br />Housing Characteristics and Student Generation Rates for Orange County, N.C. (1995) and <br />Technical Report: Calculation of Proportionate Share Impact Fees for Financing Public School <br />Capita/Needs, Orange County, N_C. (1996). <br />ChildreNHousehold: The estimated average number of school age children/household <br />(dwelling unit) based on studies of the number of students per household for the school district <br />in which the project is located. The mast recent study is A Study of Housing Characteristics and <br />Student Generation Rates for Orange County, N. C. (1995). <br />°~ Non-Elderly: N.C. General Statutes permit an $11,000 exemption to the elderly and <br />disabled who meet certain income criteria. In the event that elderly units are part of the project, <br />the percentage of eligible non-elderly units is entered. The tax base will automatically be <br />adjusted to reflect the exemption. <br />Number of Homes: The number of dwelling units to be constructed in the project in each year. <br />Average Sales Price: The average sales price of all dwelling units based on the number and <br />sales price of dwelling unit hypes to be constructed in each year. <br />