Agenda - 04-11-2000-4 - Laserfiche WebLink

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