Agenda -11-06-2008 - 4r - Laserfiche WebLink

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2 Attachment 1 summarizes the adopted educational facilities impact fee levels and the results of the 2007 study. The proposed legal advertisement for the public hearing is Attachment 7 and includes the fee level ranges proposed by staff to be considered for the public hearing. The proposed ranges are as follows: • $5,069 to $11,423 for a new single-family detached dwelling in the Chapel Hill - Carrboro City Schools (CHCCS) district, and • $3,000 to $5,623 for a new single-family detached dwelling in the Orange County Schools (OCS) district. As is shown in Attachment 3A, the projected impact fee required in the CHCCS district to generate the budgeted amount of $1.6 million to offset CHCCS debt service is $5,069. This is the staff-recommended lower end of the impact fee range. The staff-recommended upper end of the range ($11,423) is 60% of the Maximum Supportable Impact Fee (MSIF), which is consistent with the adopted percentage of the 2001 MSIF. In the OCS district, the lower end of the staff-recommended range is the current impact fee of $3,000 and the upper end of the range ($5,623) is 60% of the MSIF. Attachment 3B shows impact fee levels in relation to the sales price of new single family detached dwellings. In CHCCS, the 2001-adopted impact fee of $4,407 is 1.21% of the 2001 median sales price of a new single family detached dwelling. If the impact fee were to be increased to 1.21 % of the 2007 median sales price of a new single family detached dwelling, the corresponding impact fee would be $9,249. In OCS, the 2001-adopted impact fee of $3,000 is 1.32% of the median sales price of a new single family detached dwelling. If the impact fee were to be increased to 1.32% of the 2007 median sales price of a new single family detached dwelling, the corresponding impact fee would be $3,762. The impact fee level for housing types other than single family detached dwellings would be set at the same percentage of maximum supportable impact fee for the particular type of dwelling as the percentage set for single family detached dwellings. For example, if impact fees were to be set at 60% of the maximum supportable impact fee for single family detached dwellings, the impact fee for a manufactured home would be set at 60% of the maximum supportable impact fee for manufactured homes. Precise changes, if any, in the present fees would be determined by the Board of Commissioners following public comment at the public hearing and otherwise. In no event would educational facilities impact fees be changed to an amount or amounts that exceed the maximums determined by the 2007 Technical Reports. FINANCIAL IMPACT: Other than advertising costs and staff time, there is no financial impact in approving the public hearing legal advertisement. As Attachment 3A shows, an increase in impact fees to $5,069 per new single family detached dwelling is projected to be necessary to generate the budgeted amount of $1.6 million to offset CHCCS debt service. RECOMMENDATION(S): The Manager recommends the Board: 1) set the public hearing for the December 1, 2008 regular Board meeting; 2) approve the fee level range as proposed by staff; and 3) approve the public hearing legal advertisement.