Agenda - 09-16-2008 - 6d - Laserfiche WebLink

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pRA~- SCHOOL IMPACT FEES: O~uwGE CourrrY SCHOOIS Orange County, North Carolina BUS /VEHICLES COSTS Another infrastructure component included in the impact fee is buses and vehicles. New buses and vehicles will need to be purchased to accommodate increased enrollment. Total current value of the fleet is estimated at approximately $8.2 million, which equates to a current cost of almost $1,200 per student. Levels of service and costs are provided below in Figure 11 for the OCS fleet. Figure 11. Buses /Vehicles Levels of Service and Costs: Orange County Schools Number of Units Cost/Bus Total Cost OCS Buses 79 $80,000 $6,320,000 OCS Activity Buses 15 $70,000 $1,050,000 Other vehicles 27 $30,000 $810,000 Total 121 $67,603 $8,180,000 OCS Enrollment (2006-07) 6,817 Buses/Vehicles per Student 0.018 Cost per Student $1,199.94 Source: Orange County Schools ADJUSTMENT FOR NON-LOCAL FUNDING To adequately reflect the local share of capacity costs; the impact fees need to be adjusted to account for State funding for capacity improvements. Orange County estimates that the County receives one percent of the costs for capacity improvements from the state, therefore the local share is adjusted to represent 99 percent of the total. (Other contributions from the State are used for maintenance and other non-capacity related improvements.) CREDIT FOR FUTURE PRINCIPAL PAYMENTS ON SCHOOL IMPROVEMENTS AND LAN D Because the County debt financed a portion of recent school capacity expansion construction costs and land acquisition, a credit is included for future principal payments on outstanding debt. A credit is necessary since new residential units that will pay the impact fee will also contribute to future principal payments on this remaining debt through property taxes. A credit is not necessary for interest payments because interest costs are not included in the costs. Tischler~i~ 17 f N~2,t[ai~micai. PlinnLlp Ceixutianli.