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14 <br />discussions pertaining to whether these capital facilities needs were due to normal replacement, <br />catch-up, or new demand: <br />B. Review Cost Estimates. In this subtask we will review, as relevant, the various capital <br />costs for facilities. As part of this subtask, we will ascertain whether the facilities are likely to <br />be bonded, and if so, the amortization schedule. <br />As part of calculating the impact fees, the County may include the construction contract price; the <br />cost of acquiring land, improvements, materials and fixtures; the cost far planning, surveying, and <br />engineering fees far services provided for and directly related to the construction system <br />improvement; and debt service charges, if impact fees are used to pay the debt service to finance <br />the cost of the system improvements. <br />As requested in the RFP, <br />"the work product ~ will reflect the appropriate Orange County construction and space <br />standards far public elementary, middle and high school building areas and costs and the <br />projection of school capital improvement costs to 2005 to 2010." <br />Work Product: Capital Improvement Needs Accommodating New Growth <br />Task 4. Calculate "Credits" to be A lied A ainst Ca ital Costs. <br />A consideration of "credits" is integral to the development of a legally valid impact fee <br />calculation methodology. There is considerable confusion among those who are not immersed <br />in impact fee law about the definition of a credit and why it may be legally or equitably <br />required. <br />There are, in fact, two (2) types of "credits," each with specific, distinct characteristics, but <br />both of which will be included (or, at least considered) in the development of all impact fees. <br />The first is a credit due to possible double payment situations. This could occur when future <br />contributions aze made by the property owner towazd the capital costs of the public facility. <br />already covered by the impact fee. The second, which we will call an adjustment (as opposed <br />to a credit), is a credit toward the payment of an impact fee due for the required dedication of <br />public sites and/or public improvements provided by the developer and far which the impact <br />I fee is imposed. <br />As indicated in the RFP, this task will credit, as appropriate, new development based on <br />I housing type and value with public school facilities costs already incurred through property <br />taxes, sales taxes and other sources of funding. <br />Work Product: See Impact Fee Report Below <br />Task 5: Conduct Fundin Source and Cash Flow Anal ses. <br />In order to. calculate the Feasible capital improvements needs required by each school district <br />over time as development occurs, it is important to evaluate the anticipated funding sources. In <br />