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HomeMy WebLinkAboutImpact Fee Analysis la 11/7/00 IMPACT FEE ANALYSIS CURRENT LEVEL OF SERVICE DIVIDE TOTAL COST OF CURRENT PARK SYSTEM: *$12,054,651.48 BY TOTAL NUMBER OF CURRENT HOUSEHOLDS: 22,851 Current Level of Service $527.53 This leaves us with a useful measuring stick for the impact fee we could legally charge for each building permit issued. COMMUNITY LEVEL OF SERVICE DIVIDE TOTAL COST OF PROJECTED INFRASTRUCTURE NEEDED TO SERVE NEW DEVELOPMENT OVER NEXT TEN(10)YEARS: $11,085,000.00 BY TOTAL NUMBER OF PROJECTED NEW HOUSEHOLDS: 9,003 Under this calculation used in the first zone improvement plan analysis, the impact fee per issued building permit would be $1,231.26. While Exhibit B shows the total projected infrastructure costs for all parks,Exhibit A shows $11,085,000.00 as the total projected infrastructure cost for only Cherry Tree Park,Founders Park, Gibraltar Park, Hazel Landing Park,Inlow Park,Prairie Meadow Park and West Park. If we back out all projected infrastructure costs for all parks except Cherry Tree, Founders Park. Hazel Landing Park and West Park, the calculation is as follows: $10.670.000.00 = $1,185.16 9003 If we back out all projected infrastructure costs for all parks except Cherry Tree, Founders Park and West Park, the calculation is as follows: $7,260,000.00 =$806.40 9003 If we back out all projected infrastructure costs for all parks except Founders Park and West Park, the calculation is as follows: $6,710.000.00=$745.31 9003 The Current Level of Service number is substantially higher than our current$84.00 impact fee and an increase is clearly justified. The Park Department staff proposes that the Park Board include Cherry Tree, Founders Park,Hazel Landing Park and West Park in the ZIP as the planned areas and that the Park Board ask the Impact Fee Advisory Committee to recommend to the Carmel- Clay Pan Commission and to the Carmel Common Council that the Impact Fee be increased to reflect as closely as possible, the Current Level of Service. *The cost figures provided above for CURRENT PARK SYSTEM are through 12/31/99. EXHIBIT A ESTIMATE OF PROJECTED INFRASTRUCTURE & COSTS An estimate of the location and cost of the additional infrastructure that will be needed to serve the new development over the next ten (10) years is taken from the Capital Improvement Plan Matrix revised 5/23/00 (attached as Exhibit B) as follows: 1. Cherry Tree Park $ 550,000.00 2. Founders Park $ 1,650,000.00 3. Gibraltar Park $ 50,000.00 4. Hazel Landing Park $ 3,410,000.00 5. Inlow Park $ 330,000.00 6. Prairie Meadow Park $ 35,000.00 7. West Park $ 5.060.000.00 TOTAL: $11,085,000.00 Gibraltar Park, Inlow Park and Prairie Meadow Park are expected to be completed prior to the collection of a revised Impact Fee. Accordingly, the Staff recommends that the Park Board recommend that the above-referenced bodies include the following parks in the ZIP as the plan areas. 1. Cherry Tree Park $ 550,000.00 2. Founders Park $ 1,650,000.00 3. Hazel Landing Park $ 3,410,000.00 4. West Park $ 5.060,000.00 TOTAL: $10,670,000.00 EXHIBIT B -1 * * * * xio -uKK5_ _ mo -n � TonCo OI S =- ccnn cn CCD CD �• v = v a N N -, o o * m > D m ca — cn o m m a) a -, -1 .< a CD 0 r 73 -0 2 = CD = o -D r r n, a m cn `< v m 71 v v — T' G� 05m cp a < g co co ' v p p 73 1:11 C XD Cp p — "0 " '7 -0 m 73 -o v jc- < v2i 47 v