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p~ SCHOOL IMPACT <br />FEES: CHAPEL HILL-CARRBORO CITY SCHOOLS <br />Orange County, North Carolina <br />This section summarizes the potential cash flow to Orange County if impact fees are <br />implemented for Chapel Hill-Cazrboro City Schools at the maximum supportable amounts as <br />detailed in this report. Figure 15 provides a summary of the projected cash flow from the impact <br />fees and associated capital costs over afive- year period. <br />School impact fee revenue averages approximately $9.5 million per yeaz over the first five yeazs, <br />or almost $47.5 million, if the fees are implemented at the maximum supportable level. The <br />related school local capital costs average approximately $11.3 million per yeaz, or $56.7 million <br />over five years. Based on the projected impact fee revenues and associated costs, the fees are <br />projected to cover approximately 84 percent of the projected related capital costs. Funds can be <br />accumulated for several yeazs in order to construct a major project. <br />Since the school impact fee includes a credit for existing debt, an overall deficit for schools is <br />projected. The projected deficit, indicated by "( )" azound the numbers, will require <br />supplemental revenue of approximately $1.8 million per year. To the extent the rate of <br />development either accelerates or slows down, there will be a corresponding change in the fee <br />revenue and related capital costs. See Appendix A of this report for discussion of the <br />development projections that drive the cash flow analysis. <br />TISChIerl~iSe 23 <br />tbc2,[~hn~nieai.Plirn(np (9n:LtliMf <br />