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19 <br />EXPLANATION <br />SECTION 1 - <br />Project <br />if not all, of the <br />TERMS AND DATA SOURCES <br />DATA <br />includes information about the specific development project. Much, <br />mation 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 Years 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 : <br />template is set to calculate fiscal impacts fora ten-year period. <br />Inflation Rate: Unless an inflation rate is entered, the template will calculate fiscal <br />impacts based on constant dollars. Since the inflation rate changes frequently, the <br />Finance Department must be contacted for the most recent figure. <br />Persons/Household: The estimated average number of persons/household (dwelling <br />unit) based o 1990 Census data and studies of the number of students per <br />household for the school district in which the project is located. The most recent <br />studies include A Study of Housing Characteristics and Student Generation Rates for Orange <br />County, N.C. (1995) and Technical Report: Calculation of Proportionate Share Impact Fees <br />for Financing Public School Capital Needs, Orange County, N. C. (1996). <br />Children/House old: The estimated average number of school age <br />children/household (dwelling unit) based on studies of the number of students per <br />household for the school district in which the project is located. The most recent study <br />is A Study of Housing Characteristics and Student Generation Rates for Orange County, N.C. <br />(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 <br />the project, the percentage of eligible non-elderly units is entered. The tax base will <br />automatically be adjusted to reflect the exemption. <br />Number of Homes: The number of dwelling units to be constructed in the project in <br />each year.