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HomeMy WebLinkAboutFinal Draft Carmel RIF ZIP 032924 Baker Tilly Municipal Advisors, LLC 8365 Keystone Crossing, Ste 300 Indianapolis, IN 46240 United States of America T: +1 (317) 465 1500 F: +1 (317) 465 1550 bakertilly.com March 29, 2024 Members of the Carmel Plan Commission One Civic Square Carmel, IN 46032 Re: Carmel Clay Parks and Recreation 2024-2029 Zone Improvement Plan In connection with the calculation of the recreation impact fee for the purpose of financing capital improvements to the recreation infrastructure of the City of Carmel (the “City”) and the Carmel Clay Park & Recreation System, we have, at the request of the Carmel/Clay Board of Parks and Recreation (the “Park Board”), compiled this special purpose report (the “Report”) including the following schedules and appendices: Page(s) 1-5 Introduction and General Comments 6 Summary of 2024 Impact Fee Calculation and Community Level of Service 7 2024 Impact Fee Phase-In Schedule 8 Historical Population and Housing Unit Growth 2015-2024 and Estimated Population and Housing Unit Growth 2025-2034 9 Current Level of Service Calculation 10 Estimated 2025-2034 Infrastructure Costs to be Funded by Impact Fees 11 Estimated 2025-2034 Infrastructure Development and Cost – West Park 12 Estimated 2025-2034 Infrastructure Development and Cost – Bear Creek (Northwest) Park 13 Estimated 2025-2034 Infrastructure Development and Cost – White River Corridor 14 Estimated 2025-2034 Infrastructure Development and Cost – Central Core 15 Estimated 2025-2034 Infrastructure Development and Cost – Chinese Garden 16 Estimated 2025-2034 Infrastructure Development and Cost – Japanese Garden 17 Estimated 2025-2034 Infrastructure Development and Cost – Thomas Marcuccilli Nature Park 18 Estimated Annual 2024 Impact Fee Revenues 19 Estimated New Population Share of Principal Payments on Outstanding and Proposed Bonds 20 Estimated New Population Share of Capital Budget 21 Estimated Annual 2025-2034 Impact Fee Revenues and Expenditures 22 Historical Recreation Capital Improvements Expenditures Not Funded Through Recreation Impact Fees, Donations or Debt 23 Historical Impact Fee Receipts and Expenditures Appendix A Maps of Impact Zone Appendix B Indianapolis Metro Area Impact Fee Amounts DR A F T Members of the Carmel Plan Commission Re: Park and Recreation Impact Fee March 29, 2024 Page Two These schedules are intended for use by City officials, the City of Carmel Department of Community Services (“DOCS”), the Park Board, its Department (“CCPR”) and their respective advisors, for use in connection with an update of the recreation impact fee for the Carmel Clay Park and Recreation System within the City of Carmel, Indiana. The use of these schedules should be restricted to this purpose. The schedules and underlying assumptions are based upon information provided to us by the City DOCS, CCPR, and by their respective advisors. In the preparation of the schedules contained in this Report, assumptions were made as noted regarding certain future events. As is the case with such assumptions regarding future events and transactions, some or all may not occur as expected and the resulting differences could be material. We have not examined the underlying assumptions nor have we audited or reviewed the historical data. Consequently, we express no opinion nor provide any other form of assurance thereon nor do we have a responsibility to prepare subsequent reports. Very Truly Yours, BAKER TILLY MUNICIPAL ADVISORS, LLC DRAFT Matt Eckerle, Principal Baker Tilly Municipal Advisors, LLC is a registered municipal advisor and controlled subsidiary of Baker Tilly US, LLP, an accounting firm. Baker Tilly US, LLP, trading as Baker Tilly, is a member of the global network of Baker Tilly International Ltd., the members of which are separate and independent legal entities. © 2024 Baker Tilly Municipal Advisors, LLC DR A F T 2025-2029 ZONE IMPROVEMENT PLAN CITY OF CARMEL, INDIANA FOR THE CARMEL CLAY PARK AND RECREATION SYSTEM INTRODUCTION AND GENERAL COMMENTS The City of Carmel, Indiana adopted a recreation impact fee (the “2019 Impact Fee”) with Ordinance PRIF Z-644-19 (the “2019 PRIF Ordinance”), based on the 2020-2025 Zone Improvement Plan (the “2020-2025 ZIP”) and pursuant to IC 36-7-4-1300 through IC 36-7-4-1342 (the “Enabling Legislation”). The 2019 PRIF Ordinance established the 2019 Impact Fee at an amount of $4,882 per housing unit, effective November 18, 2019. The 2019 Impact Fee is collected at the time of the City’s issuance of a building permit. The 2019 PRIF Ordinance, per the Enabling Legislation, expires five years after its effective date and gives to the Common Council of the City (the “Council”) the power to consider economic and market forces over which it has no control, to cause a review of the validity of the impact fee, the impact zone and the zone improvement plan. Based on such a review, the Council has the power to adopt such amendments as are necessary to cause a substantive compliance with all constitutional and statutory requirements. Accordingly, the City is interested in updating the 2019 PRIF Ordinance as allowed by the Enabling Legislation. This report serves as a Zone Improvement Plan (herein referred to as the “ZIP” and in the adopting Ordinance as the “2025-2029 Zone Improvement Plan”), in compliance with the Enabling Legislation. As such, it provides a foundation for imposing impact fees on future development to offset additional costs for park system expansion and improvements. Impact Fees Impact fees, as described by this ZIP, will shift the cost of new and expanded park facilities from the community at large to the new development that is generating the need for those new and expanded facilities. Impact fees, however, cannot be used to finance improvements to overcome existing deficiencies in park facilities, nor can they be used to fund maintenance or operations. Impact Zone For the purposes of this ZIP, the Impact Zone is defined as the corporate limits of the City of Carmel. Maps of the Impact Zone are attached as Appendix A. ZIP Approval Process The following is the approval process through which the prior zone improvement plans and through which this ZIP proceeded to become official documents of the Carmel Community (the “Community”):  Review by the City’s Impact Fee Advisory Committee, which is composed of members of the Carmel Plan Commission (see IC 36-7-4-1312, “the IFAC”);  Public hearing and recommendation by the Carmel Plan Commission, the “CPC”; and  Approval by the Common Council of the City of Carmel, the “Council” (see IC 36-7-4-1311). Approval by the Council is the final step by which to establish this ZIP as a part of the City’s Comprehensive Plan and provides the basis for increasing the impact fee. Once approved by the Council and once the time frame has run for the 2024 ordinance by which the impact fee is increased and the ordinance is in effect, this ZIP will be considered to have replaced the 2020-2025 ZIP adopted in 2019. 1 DR A F T 2025-2029 ZONE IMPROVEMENT PLAN THE CARMEL CLAY PARK AND RECREATION SYSTEM INTRODUCTION AND GENERAL COMMENTS (cont’d) Carmel/Clay Board of Parks and Recreation and its Department (“CCPR”) In 1991, the City and Clay Township (the “Township”) created the Carmel/Clay Board of Parks and Recreation (the “Park Board”) by virtue of an agreement entitled “Park Joinder Under Interlocal Cooperation Act” and in 2002, continued and reformed the Park Board through an agreement entitled “Interlocal Cooperation Agreement between the City of Camel, Indiana and Clay Township of Hamilton County, Indiana ( the “2002 Interlocal Agreement”), as has been and will continue to be, amended from time to time. The Park Board is comprised of 9 appointed members based on their interest in and knowledge of parks and recreation. The City’s Mayor and the Township’s Trustee each appoint four members to staggered, four-year terms. The Carmel Clay School Board self-appoints one of its members to a one-year term. Current Park Board members and their appointing authority are listed below: Judith F. Hagan, President Jenn Kristunas, Vice President Lin Zheng, Treasurer Linus Rude, Secretary Jonathan Blake Katie Browning James D. Garretson Joshua A. Kirsh Mark Westermeier The Park Board is empowered to grow, administer and manage the Carmel Clay Park and Recreation System through the Carmel/Clay Park and Recreation Department (“CCPR”), all as set forth in the 2002 Interlocal Agreement. CCPR has a legacy of providing high-quality parks and services to the Community. It manages and maintains more than 534 park acres and numerous recreation facilities, including the Monon Community Center and The Waterpark. In addition, CCPR partners with Carmel Clay Schools to manage Extended School Enrichment (ESE), a before and after-school care program for K-6 students located at all 11 Carmel elementary schools. The Summer Camp Series is a component of ESE that offers 12 different summer camps accommodating children ages 5-15. CCPR has consistently been recognized as one of the best parks and recreation agencies in the United States winning the National Gold Medal Award for Excellence in Park and Recreation Management in 2014 and 2020. It is one of only 205 park and recreation systems in the United States currently accredited through the Commission for Accreditation of Park and Recreation Agencies, demonstrating compliance with national best practices. CCPR’s summer camps are also nationally accredited by the American Camp Association. Other recent National Recreation and Park Association national awards include: 2018 National Distinguished Professional Award, 2016 Excellence in Inclusion Award and the 2015 Barb King National Environmental Stewardship Award. CCPR has a highly qualified staff and is dedicated to continuing education for its employees, as demonstrated by the number of certified professionals: 2 Certified Park & Recreation Executives, 5 Certified Park and Recreation Professionals, 4 Aquatic Facility Operators, 3 Certified Playground Safety Inspectors, 1 SHRM Senior Certified Professional, 2 SHRM Certified Professionals, and 1 Child and Youth Care Associate. As an accredited agency, CCPR serves the recreation, fitness, and nature needs of the Community, manages and develops existing spaces and resources, and creates a sustainable future for parks and recreation programs through a financially viable and environmentally conscious parks system. It has caused the preparation of an updated 2024-2029 Parks and Recreation Master Plan (the “PRMP”) and its components which includes this ZIP that evaluates the condition of existing park infrastructure and forecasts the capital budget necessary to replace facilities. While this ZIP is intended to be a standalone plan, it is supported by the information contained in the PRMP, which are incorporated herein by this reference. 2 DR A F T 2025-2029 ZONE IMPROVEMENT PLAN THE CARMEL CLAY PARK AND RECREATION SYSTEM INTRODUCTION AND GENERAL COMMENTS (cont’d) The Council and the Township Board determine and provide revenue for the general fund operation of CCPR. Except as specifically provided herein, the Funding of CCPR and the description of the Carmel Clay Park and Recreation system is substantially similar to those descriptions provided in the 2020-2025 ZIP which is incorporated herein by this reference. Summary of Impact Fee Calculation and Community Level of Service – Page 6 The 2024 Impact Fee calculation is based on the infrastructure information and infrastructure level of service standards compiled by the City, CCPR and their advisors, and was calculated based on an analysis of estimated recreation infrastructure needs over a 10-year planning horizon (2025-2034). The schedule on page 6 illustrates the calculation of the proposed maximum 2024 Impact Fee at $8,276 per housing unit. The costs to be funded through the 2024 Impact Fee are based on the estimated 2024 cost of infrastructure improvements to meet the calculated Community Level of Service, the quantitative measure of the service provided by the infrastructure determined to be appropriate. The Impact Fee is not expected to be the sole source of revenue for parks and recreation improvements for the next 10 years. Credits and deductions reflect the estimated non-local revenue contribution to recreation capital projects, the contribution of new residents to principal payments on outstanding and proposed bonds, and the contribution of new residents to CCPR’s annual capital projects budget through traditional means. 2024 Impact Fee Phase-In Schedule – Page 7 The CCPR has determined it will not charge the proposed maximum Impact Fee of $8,276 as calculated on page 6. Instead, the CCPR is proposing a phased increase of the 2024 Impact Fee over the five-year effective period. The schedule on page 7 illustrates the proposed phase-in schedule which applies a 10% annual increase beginning with the 2020 Impact Fee amount of $4,882. The annual adjustments are assumed to be effective on January 1, 2025 based on an assumed Council approval in June 2024: January 1, 2025 to December 31, 2025 $5,370 January 1, 2026 to December 31, 2026 $5,907 January 1, 2027 to December 31, 2027 $6,498 January 1, 2028 to December 31, 2028 $7,148 January 1, 2029 to December 31, 2029 $7,863 Historical Population Housing Unit Growth 2015-2024 and Estimated Population and Housing Unit Growth 2025-2034 – Page 8 The schedule on page 8 illustrates the City’s historical population and housing units for the time period of 2015-2024, and the estimated population and housing units for 2025-2034. The population and housing unit information and estimates are per DOCS. 3 DR A F T 2025-2029 ZONE IMPROVEMENT PLAN THE CARMEL CLAY PARK AND RECREATION SYSTEM INTRODUCTION AND GENERAL COMMENTS (cont’d) Current Level of Service “Current LOS” Calculation– Page 9 The Current Level of Service (“Current LOS”) is the quantitative measure of service provided by existing infrastructure to support existing development. The City, the Township, the Park Board and CCPR continue to responsibly and appropriately invest in the Carmel Park and Recreation System, conservatively valued today at $407,401,619. The 2004 $55 Million Lease-Rental Bond (the “Central Park Bond”) developed a large section of the 161 acre Central Park and its signature facility, the Monon Community Center. The Central Park Bond was refinanced in 2015 as the Carmel Clay Parks Building Corporation Lease Rental Refunding Bonds, Series 2015 A and Series 2015 B (collectively, the “2015 Bonds”) to save taxpayer dollars. The Township’s receipt of the Local Income Tax attributable to the property tax levy associated with 2015 Bonds returns more than $2,000,000 per year and is required to be used on Park Capital Projects, though the 2015 Bonds will fully mature January 15, 2025. This commitment to identify, acquire and develop available parkland, maintain park infrastructure, seek input from current residents and strive to address in part with regularly updated impact fees, the park and recreational demands that new residents place on the Carmel Clay Park and Recreation System, is unwavering. The schedule on page 9 illustrates the Current LOS calculation of $9,401 per existing housing unit based on the sum of the estimated Land Value and estimated Improvement Value divided by the number of current housing units. The quality and condition of the Carmel Clay Park and Recreation System reflects the significant investment and high level of importance that the City, the Township, the Park Board and CCPR place on the quality of life. Estimated 2025-2034 Infrastructure Costs to be Funded by Impact Fees – Page 10 This schedule on page 10 summarizes the estimated current infrastructure costs for the West Park, Bear Creek (Northwest) Park, the White River Corridor, the Central Core, the Chinese Garden, the Japanese Garden, and Thomas Marcuccilli Nature Park development areas by calculating the estimated cost of each amenity, including a 20% allowance for construction and design contingencies. The calculation considers infrastructure needs and demands from the estimated housing development and population growth, as illustrated in the PRMP. The total future estimated infrastructure costs are $75,606,223. The estimated current infrastructure costs are per the PRMP. Estimated 2025-2034 Infrastructure Development and Costs – Pages 11 – 17 These schedules on pages 11, 12 and 13 illustrate the estimated costs for the development of infrastructure in the each of the West Park, Bear Creek (Northwest) Park, the White River Corridor, the Central Core, the Chinese Garden, the Japanese Garden, and Thomas Marcuccilli Nature Park development areas. Cost estimates are per the PRMP. Estimated Annual 2024 Impact Fee Revenues – Page 18 The schedule on page 18 shows the estimated annual revenues for the 2024 Impact Fee. The estimated revenues are calculated by multiplying the estimated housing units for each year by the 2024 Impact Fee per housing unit for each given year as outlined on Page 7. It is assumed that the base implementation calendar year for the 2024 Impact Fee will be 2025. Estimated New Population Share of Principal Payments on Outstanding and Proposed Bonds – Page 19 The schedule on page 15 shows the calculation of the estimated share of the principal payments on the outstanding Clay Township General Obligation Bonds, Series 2019A through 2019L (the “2019 Bonds”), and the Clay Township General Obligation Bonds, Series 2022 (the “2022 Bonds”), and the principal that will be funded by new residents. The 2015 Bonds will fully mature on January 15, 2025. 4 DR A F T 2025-2029 ZONE IMPROVEMENT PLAN THE CARMEL CLAY PARK AND RECREATION SYSTEM INTRODUCTION AND GENERAL COMMENTS (cont’d) Estimated New Population Share of Principal Payments on Outstanding and Proposed Bonds – Page 19 (Cont’d) The 2019 Bonds are payable from ad valorem property taxes levied on all property located within Clay Township. During the 10-year planning horizon, the 2019 Bonds have $19,330,000 of outstanding principal that will be paid down. The 2022 are payable from ad valorem property taxes levied on all property located within Clay Township. During the 10-year planning horizon, the 2022 Bonds have $2,915,000 of outstanding principal that will be paid down. It is assumed that new residents will pay a share proportional to their makeup of the total population of the City. Based on these assumptions, it is assumed that new residents will contribute $1,525,840 to the principal payments on the 2019 Bonds and the 2022 Bonds made during the planning horizon of the ZIP. The ZIP makes no assumptions of future new money or refunding debt issuances by Clay Township or the City. Estimated New Population Share of Capital Budget – Page 20 The schedule on page 16 shows the calculation of the estimated share of the Park Board’s annual capital budget that will be funded by new residents. The annual Park Board capital budget is funded from sources including (but not limited to) Local Income Tax Certified Shares. It is assumed that the historical average annual capital budget amount of $2,864,000 will be held constant into the future, and new residents will pay a share proportional to their makeup of the total population of the City. Based on these assumptions, it is assumed that new residents will contribute 12.44% of the total capital projects budget in 2034, or $2,156,010 over the entire 10-year planning horizon. Estimated Annual 2024 Impact Fee Revenues and Expenditures – Page 21 The estimated annual revenues from the 2024 Impact Fee, the estimated new population’s contribution to bond principal and the estimated new population’s contribution to the capital budget are compared to the estimated expenditures of these revenues over the 10-year planning horizon in this schedule. The estimates are based on the accumulation of revenues and the estimated need for new infrastructure as dictated by population growth and the Community Level of Service standards. Due to the proposed phase-in of the 2024 Impact Fee, this schedule shows that the impact fee fund balance would not be able to fund all the needed infrastructure over the 10-year horizon. CCPR, together with the City and Clay Township, will continue to evaluate non-impact fee funding options for capital needs. Historical Recreation Infrastructure Improvements Expenditures Not Funded Through Recreation Impact Fees, Donations or Debt – Page 22 The schedule on page 22 shows the historical capital expenditures for recreation from 2019 through 2023. Historical Impact Fee Receipts and Expenditures – Page 23 The schedule on page 23 shows the receipts and expenditures for the recreation impact fees from calendar year 2014 through 2023. The Impact Fee revenues may be spent only on items identified in the capital improvements plan provided in the ZIP. Specific projects and infrastructure that Impact Fee revenues may be spent on are illustrated on pages 11-17. The Impact Fee fund balance as of December 30, 2023 is $4,262,667.44 per CCPR. Impact fee credits granted to developers are not accounted for in this schedule. 5 DR A F T SUMMARY OF 2024 IMPACT FEE CALCULATION AND COMMUNITY LEVEL OF SERVICE Cost of meeting 2024 Park Infrastructure needs $75,606,223 (a) Less: Estimated non-local revenues (4,600,000) (b) Less: New resident contribution to bond principal payments (1,525,840) (c) Less: New resident capital budget contribution (2,156,010) (d) Capital costs to be funded by 2024 Impact Fees 67,324,373 Plus: Estimated expenses incurred for consulting services 40,000 (e) Sum of Capital Costs and Consulting Expenses 67,364,373 Divided by estimated new housing units 8,140 (f) Maximum 2024 Impact Fee per housing unit $8,276 (a) On November 18, 2021 the Park Board was donated 63.24 acres of land by Falcon Nest II See page 10. (b) On November 18, 2021 the Park Board was donated 63.24 acres of land by Falcon Nest II LLC valued at an estimated value of $2,000,000; and on April 13, 2022 the Park Board was donated 1.98 acres of land by Sunrise Residential LLC valued at an estimated value of $300,000. Assumes a similar value will be received by the Park Board over the 10-year planning horizon. (c) See page 19. (d) See page 20. (e) See IC 36-7-4-1330 (2). (f) See page 8. (Subject to the comments in the attached Report dated March 29, 2024 of Baker Tilly Municipal Advisors, LLC) 6 2025-2029 ZONE IMPROVEMENT PLAN THE CARMEL CLAY PARK AND RECREATION SYSTEM DR A F T 2024 IMPACT FEE PHASE-IN SCHEDULE (a) January 1, 2025 to December 31, 2025 $5,370 January 1, 2026 to December 31, 2026 $5,907 January 1, 2027 to December 31, 2027 $6,498 January 1, 2028 to December 31, 2028 $7,148 January 1, 2029 to December 31, 2029 $7,863 Maximum 2024 Impact Fee per housing unit $8,276 (b) (a) CCPR is proposing a phase-in of the 2024 Impact Fee over the five year ZIP period. Assumes the 2024 Impact Fee is approved in June 2024, and that it will be effective January 1, 2025. (b) See page 6. (Subject to the comments in the attached Report dated March 29, 2024 of Baker Tilly Municipal Advisors, LLC) 7 THE CARMEL CLAY PARK AND RECREATION SYSTEM 2025-2029 ZONE IMPROVEMENT PLAN DR A F T Population Total New Housing Year Population Change Housing Units Units (a)(b)(c) 2015 92,998 34,823 1,663 2016 96,114 3,116 35,378 432 2017 97,400 1,286 37,900 759 2018 99,143 1,743 38,256 767 2019 101,068 1,925 41,289 469 2020 (d)99,898 (1,170)39,927 592 2021 100,959 1,061 42,773 943 2022 101,964 1,005 41,456 1,033 2023 103,320 1,356 42,401 945 2024 105,243 1,923 43,336 935 2025 107,079 1,836 44,271 935 2026 108,743 1,664 45,118 847 2027 110,327 1,584 45,965 847 2028 111,912 1,585 46,812 847 2029 113,400 1,488 47,650 838 2030 114,888 1,488 48,488 838 2031 116,376 1,488 49,326 838 2032 117,709 1,333 50,076 750 2033 119,041 1,332 50,826 750 2034 120,196 1,155 51,476 650 (a) Per the U.S. Census Bureau. represents the July 1 Population estimate. (b) Per the U.S. Census Bureau ACS 1-year estimates. (c) Per DOCS issued permit data. (d) Per the U.S. Census Bureau 2020 Decennial Census. Due to the Decennial Census, 1-year estimates were not released in 2020. (e) Per DOCS. Assumes a 93.5% occupancy rate and 1.8 - 2.2 persons per household, decreasing over time. (Subject to the comments in the attached Report dated March 29, 2024 of Baker Tilly Municipal Advisors, LLC) 8 THE CARMEL CLAY PARK AND RECREATION SYSTEM 2025-2029 ZONE IMPROVEMENT PLAN ESTIMATED POPULATION AND HOUSING UNIT GROWTH 2025-2034 (e) HISTORICAL POPULATION AND HOUSING UNIT GROWTH 2015-2024 DR A F T THE CARMEL CLAY PARK AND RECREATION SYSTEM 2025-2029 ZONE IMPROVEMENT PLAN CURRENT LEVEL OF SERVICE CALCULATION ("Current LOS") Value of Existing Infrastructure: Land (a)$123,248,619 Improvements (b)284,153,000 Total 407,401,619 Divided by number of 2024 housing units (c)43,336 Estimated Current LOS (d)$9,401 (a) The current land inventory is 690.84 acres, per CCPR. Assumes the land valued at $178,404 per acre, based on the average price per acre of vacant land sold since February 2022, per the DOCS. (b) Per the Carmel Clay Parks and Recreation Department. (c) See page 8. (d) Represents the Current LOS per unit of existing development. (Subject to the comments in the attached Report dated March 29, 2024 of Baker Tilly Municipal Advisors, LLC) 9 DR A F T THE CARMEL CLAY PARK AND RECREATION SYSTEM 2025-2029 ZONE IMPROVEMENT PLAN ESTIMATED 2025-2034 INFRASTRUCTURE COSTS TO BE FUNDED BY IMPACT FEES Estimated 2024 Costs West Park (a)$3,610,500 Bear Creek Park (Northwest) (b)10,468,790 White River Corridor (c)18,618,170 Central Core (d)16,693,215 Chinese Garden (e)1,805,324 Japanese Garden (f)5,025,200 Thomas Marcuccilli Nature Park (g)6,783,984 Sub-total 63,005,183 Estimated Construction Contingencies (h)12,601,040 Total $75,606,223 (a) See page 11. (b) See page 12. (c) See page 13. (d) See page 14. (e) See page 15. (f) See page 16. (g) See page 17. (h) Assumes a 20% allowance construction and design contingencies. (Subject to the comments in the attached Report dated March 29, 2024 of Baker Tilly Municipal Advisors, LLC) 10 DR A F T THE CARMEL CLAY PARK AND RECREATION SYSTEM 2025-2029 ZONE IMPROVEMENT PLAN ESTIMATED 2025-2034 INFRASTRUCTURE DEVELOPMENT AND COST - WEST PARK (a) Estimated Estimated Development Current Estimated Infrastructure Amount Unit Unit Cost Total Cost (b)(a) Community Shelter with Restrooms 2,000 S.F.$400.00 $800,000 Picnic Tables 6 Ea.2,800.00 16,800 Neighborhood Park Standard Playground 1 Ea.750,000.00 750,000 Drinking Fountain 1 Ea.4,500.00 4,500 Benches 6 Ea.2,150.00 12,900 Waste Receptacle 6 Ea.2,000.00 12,000 Dog Waste Station 1 Ea.1,000.00 1,000 Interior Park Road 25,000 S.F.12.50 312,500 Parking Lot 56,000 S.F.12.50 700,000 Signage 6 Ea.3,300.00 19,800 Walk/Trail - Asphalt 35,000 S.F.9.50 332,500 Walk/Trail - Stone 17,500 S.F.7.00 122,500 Walk/Trail - Boardwalk 1,750 S.F.100.00 175,000 Trail Signage 8 Ea.3,300.00 26,400 Bicycle Racks 12 Ea.800.00 9,600 Landscape - Prairie/Wetland 15 Acre 10,000.00 150,000 Landscape - Planting Bed 10,000 S.F.12.50 125,000 Landscape - Trees 50 Ea.800.00 40,000 Totals $3,610,500 (a) Per the PRMP. Represents infrastructure identified to serve new development through 2034. (b) Estimated in 2024 dollars. (Subject to the comments in the attached Report dated March 29, 2024 of Baker Tilly Municipal Advisors, LLC) 11 DR A F T THE CARMEL CLAY PARK AND RECREATION SYSTEM 2025-2029 ZONE IMPROVEMENT PLAN ESTIMATED 2025-2034 INFRASTRUCTURE DEVELOPMENT AND COST - BEAR CREEK (NORTHWEST) PARK (a) Estimated Estimated Development Current Estimated Infrastructure Amount Unit Unit Cost Total Cost (b)(a) Subsurface Investigation 1 L.S.$36,000.00 $36,000 Erosion Control 1 L.S.119,000.00 119,000 Clear and Grub 1 L.S.109,000.00 109,000 Selective Site Demo 1 L.S.15,000.00 15,000 Grading and Earthwork 44,200 S.Y.10.00 442,000 Fine Grading 100,500 S.Y.0.50 50,250 Temporary Project Sign and Fencing 1 L.S.45,000.00 45,000 Construction Layout 1 L.S.60,000.00 60,000 Signage 1 L.S.50,000.00 50,000 Gateway Entry Signage 3 Ea.66,000.00 198,000 Concrete Pavement 45,700 S.F.8.00 365,600 Concrete Steps 721 L.F.400.00 288,400 Asphalt Pavement - Road 36,800 S.F.7.50 276,000 Asphalt Pavement - Path 16,200 S.F.4.00 64,800 Gravel Path 6,500 S.F.31.00 201,500 Nature Play 1 L.S.610,000.00 610,000 Outdoor Classrooms 1 L.S.50,000.00 50,000 Overlook 1 L.S.15,000.00 15,000 Stone Steps (per stone slab)280 Ea.3,100.00 868,000 Sports Courts 2 Ea.40,000.00 80,000 Gaga Ball 1 Ea.6,000.00 6,000 Adventure Tower 1 L.S.410,000.00 410,000 Water Play 1 L.S.750,000.00 750,000 Zip-Line 1 L.S.85,000.00 85,000 Site Furnishings 1 L.S.70,000.00 70,000 Sanitary Service 1 L.S.55,000.00 55,000 Electrical Service 1 L.S.80,000.00 80,000 Water Service 1 L.S.63,000.00 63,000 Turf Sod 5,930 S.Y.18.00 106,740 Trees 854 Ea.750.00 640,500 Accent Planting 1 L.S.90,000.00 90,000 Community Pavilion 1 L.S.3,000,000.00 3,000,000 Secondary Structure w/ Restrooms or Storage (Type A)1 Ea.380,000.00 380,000 Secondary Structure w/ Restrooms or Storage (Type B)1 Ea.178,000.00 178,000 Open Air Structure (Picnic Shelter)7 Ea.75,000.00 525,000 Woodland Restoration 172,000 S.F.0.50 86,000 Total 10,468,790.00 (a) Per the PRMP. Represents infrastructure identified to serve new development through 2034. (b) Estimated in 2024 dollars. (Subject to the comments in the attached Report dated March 29, 2024 of Baker Tilly Municipal Advisors, LLC) 12 DR A F T THE CARMEL CLAY PARK AND RECREATION SYSTEM 2025-2029 ZONE IMPROVEMENT PLAN ESTIMATED 2025-2034 INFRASTRUCTURE DEVELOPMENT AND COST - WHITE RIVER CORRIDOR (a) Estimated Estimated Development Current Estimated Infrastructure Amount Unit Unit Cost Total Cost (b)(a) Land 30 Acre $178,404.00 $5,352,120 Master Plan 1 L.S.225,000.00 225,000 Utility & Site Work 1 L.S.100,000.00 100,000 Nature/River Ecology Center 17,500 S.F.400.00 7,000,000 Trailhead Restrooms 1 L.S.175,000.00 175,000 Utility Service 1 L.S.37,500.00 37,500 Parking Lot - Asphalt 70,000 S.F.12.50 875,000 Entrance Road - Asphalt 25,000 S.F.12.50 312,500 Entrance Sign 2 Ea.15,000.00 30,000 Walk/Trail - Asphalt 180,000 S.F.9.50 1,710,000 Walk/Trail - Concrete 30,000 S.F.12.00 360,000 Walk/Trail - Boardwalk 10,560 S.F.100.00 1,056,000 Bridge 2 L.S.500,000.00 1,000,000 Other Signage 3 Ea.3,300.00 9,900 Metal Bollard 6 Ea.1,600.00 9,600 Bench 15 Ea.2,150.00 32,250 Bicycle Rack 16 Ea.800.00 12,800 Bike Repair Station 2 Ea.2,500.00 5,000 Waste Receptacle/Recycle Bin 10 Ea.2,000.00 20,000 Dog Waste Station 4 Ea.1,000.00 4,000 Drinking Fountain 2 Ea.4,500.00 9,000 Canoe Launch 1 L.S.50,000.00 50,000 Landscape - Prairie/Wetland 6 Acre 10,000.00 57,000 Forest Mitigation 3 Acre 58,500.00 175,500 Totals $18,618,170 (a) Per the PRMP. Represents infrastructure identified to serve new development through 2034. (b) Estimated in 2024 dollars. (Subject to the comments in the attached Report dated March 29, 2024 of Baker Tilly Municipal Advisors, LLC) 13 DR A F T Infrastructure Estimated Development Amount Unit Estimated Current Unit Cost Estimated Total Cost (b)(a) Land 35 Acre $178,404.00 $6,244,140 Master Plan 1 L.S.225,000.00 225,000 Utility & Site Work 1 L.S.500,000.00 500,000 Community Shelter/Restrooms/Storage 4,000 S.F.400.00 1,600,000 Shelters 2,625 S.F.325.00 853,125 Picnic Tables 14 Ea.2,800.00 39,200 Grill 5 Ea.1,600.00 8,000 Community Park Standard Playground 1 L.S.1,500,000.00 1,500,000 Outdoor Fitness Equipment 1 L.S.100,000.00 100,000 Drinking Fountain 4 Ea.4,500.00 18,000 Benches 12 Ea.2,150.00 25,800 Waste Receptacle/Recycle Bin 20 Ea.2,000.00 40,000 Dog Waste Station 8 Ea.1,000.00 8,000 Parking Lot - Asphalt 50,000 S.F.12.50 625,000 Entrance Sign 2 Ea.15,000.00 30,000 Signage 10 Ea.3,300.00 33,000 Walk/Trail - Asphalt 90,000 S.F.9.50 855,000 Walk/Trail - Concrete 18,000 S.F.12.00 216,000 Walk/Trail - Pavers 36,000 S.F.26.00 936,000 Walk/Trail - Boardwalk 6,000 S.F.150.00 900,000 Bridge & Abutments 2 L.S.601,900.00 1,203,800 Bicycle Racks 18 Ea.800.00 14,400 Landscape - Lawn 5,000 S.Y.3.50 17,500 Landscape - Prairie/Wetland 5 Acre 10,000.00 50,000 Landscape - Planting Bed 2,500 S.F.12.50 31,250 Landscape - Trees 150 Ea.800.00 120,000 Dog Park 1 L.S.500,000.00 500,000 Total $16,693,215 (a) Per the PRMP. Represents infrastructure identified to serve new development through 2034. (b) Estimated in 2024 dollars. ESTIMATED 2025-2034 INFRASTRUCTURE DEVELOPMENT AND COSTS - CENTRAL CORE (a) 14 dated March 29, 2024 of Baker Tilly Municipal Advisors, LLC) (Subject to the comments in the attached Report THE CARMEL CLAY PARK AND RECREATION SYSTEM 2025-2029 ZONE IMPROVEMENT PLAN DR A F T Infrastructure Estimated Development Amount Unit Estimated Current Unit Cost Estimated Total Cost (b)(a) Site Prep and Tree Protection 51,350 S.F.$0.05 $2,568 Fine Grading and Soil Preparation 51,350 S.F.0.18 9,243 Berm at Pavilion 536 C.Y.4.80 2,573 Stone Veneer Edging at Pond 500 L.F.175.00 87,500 Concrete Pavement 3,500 S.F.10.20 35,700 Stone Paving Area 8,070 S.F.35.00 282,450 Stone Veneer Retaining Wall with CMU Core 190 S.F.60.00 11,400 Stone Veneer Stairs 1 L.S.5,400.00 5,400 Freestanding Wall 360 S.F.51.00 18,360 Decomposed Granite 550 S.F.9.60 5,280 Electrical Pedestal, Controllers, Drivers, UG Utility, etc.1 L.S.175,000.00 175,000 Pedestrian Pole Light 20 Ea.4,000.00 80,000 Tree Up lights 44 Ea.2,400.00 105,600 Power Outlet 6 Ea.2,400.00 14,400 Cellphone Charging Station 10 Ea.2,500.00 25,000 8" Trunk and Lateral Lines 425 L.F.30.00 12,750 French Drain 190 L.F.14.40 2,736 Inlets @ Landscape Areas 12 Ea.420.00 5,040 Irrigation - Lawn Rotors 51,350 S.F.2.00 102,700 Irrigation - Planting Beds 5,150 S.F.2.50 12,875 Irrigation - Tree Bubblers 55 Ea.60.00 3,300 Irrigation Pedestal, Controllers, Main and Lateral Lines 1 L.S.125,000.00 125,000 Structural Trees 14 Ea.1,800.00 25,200 Ornamental Trees 8 Ea.750.00 6,000 Shrub 65 Ea.50.00 3,250 Groundcover 315 Ea.15.00 4,725 Ornamental Grass 535 Ea.10.80 5,778 Annuals 1,106 Ea.3.60 3,982 Compost/Topsoil 15 C.Y.66.00 1,020 Mixed Soil 63 C.Y.66.00 4,154 Hardwood Mulch 31 C.Y.60.00 1,831 Bermuda Sod Grass 2,500 S.F.0.54 1,350 Hydroseeded Bermuda Grass 2,500 S.F.0.06 150 Benches 8 Ea.3,000.00 24,000 Trash Receptacles 4 Ea.1,977.60 7,910 Dog Waste Station 1 Ea.600.00 600 Shade Pavilion 1 L.S.120,000.00 120,000 Pond 1 L.S.375,000.00 375,000 Pedestrian Bridge 1 L.S.90,000.00 90,000 School Signage Relocation 1 L.S.5,500.00 5,500 Total $1,805,324 (a) Per the PRMP. Represents infrastructure identified to serve new development through 2034. (b) Estimated in 2024 dollars. ESTIMATED 2025-2034 INFRASTRUCTURE DEVELOPMENT AND COSTS - CHINESE GARDEN (a) 15 dated March 29, 2024 of Baker Tilly Municipal Advisors, LLC) (Subject to the comments in the attached Report THE CARMEL CLAY PARK AND RECREATION SYSTEM 2025-2029 ZONE IMPROVEMENT PLAN DR A F T Infrastructure Estimated Development Amount Unit Estimated Current Unit Cost Estimated Total Cost (b)(a) Layout Path & Shoreline 1 L.S.$24,000.00 $24,000 Excavation, Cut, Fill & Build Pond Shoreline 1 L.S.2,240,000.00 2,240,000 Construct Pathway 1 L.S.687,000.00 687,000 Shoreline Edge 1 L.S.62,400.00 62,400 Castle Wall 1 L.S.250,800.00 250,800 Waterfalls 1 L.S.128,000.00 128,000 Boulder Work 1 L.S.216,000.00 216,000 Pathway Boulders 1 L.S.120,000.00 120,000 Steps & Stepping Stones 1 L.S.25,000.00 25,000 Planting - Trees 1 L.S.550,000.00 550,000 Planting - Small Shrubs & Ground Cover 1 L.S.450,000.00 450,000 Soil Amendment & Planting Soil 1 L.S.144,000.00 144,000 Irrigation 1 L.S.110,000.00 110,000 Finish Work 1 L.S.18,000.00 18,000 Total $5,025,200 (a) Per the PRMP. Represents infrastructure identified to serve new development through 2034. (b) Estimated in 2024 dollars. ESTIMATED 2025-2034 INFRASTRUCTURE DEVELOPMENT AND COSTS - JAPANESE GARDEN (a) 16 dated March 29, 2024 of Baker Tilly Municipal Advisors, LLC) (Subject to the comments in the attached Report THE CARMEL CLAY PARK AND RECREATION SYSTEM 2025-2029 ZONE IMPROVEMENT PLAN DR A F T Infrastructure Estimated Development Amount Unit Estimated Current Unit Cost Estimated Total Cost (b)(a) Site Clearing and Prep, Noxious Tree Removal, etc.1 Allow $30,000.00 $30,000 Erosion Control 1 Allow 30,000.00 30,000 Crushed Aggregate Path 42,800 S.F.20.00 856,000 Mulched Trails 25,500 S.F.7.00 178,500 Parking Lot - Simplicity Parkway 1 Allow 126,975.00 126,975 Parking Lot - Harvest Church 1 Allow 675,708.00 675,708 Pedestrian Boardwalk 27,850 S.F.75.00 2,088,750 Pedestrian Boardwalk Railing 4,900 Allow 225.00 1,102,500 Restroom Building - Harvest Church 1 Allow 350,000.00 350,000 Sculpture /Public Art - Location 1 1 Allow 75,000.00 75,000 Sculpture /Public Art - Location 2 1 Allow 125,000.00 125,000 Passive Play Area 1,413 Ea.15.00 21,188 Cargo Netting Area 1 418 S.F.25.00 10,438 Cargo Netting Area 2 1,550 S.F.25.00 38,750 Interactive Boulder Play Area 1,125 Ea.20.00 22,500 Terraced Seating 1,250 F.F.45.00 56,250 Signage 1 Allow 125,000.00 125,000 Prairie Meadow Planting 9.5 Acre 4,500.00 42,525 Wetland/Fen Planting 29 Acre 4,500.00 130,410 Soil Amendments 38.4 Acre 8,000.00 307,440 Tree Mass Planting 234,000 S.F.1.25 292,500 Understory Mass Plantings 65,700 S.F.1.50 98,550 Total $6,783,984 (a) Per the PRMP. Represents infrastructure identified to serve new development through 2034. (b) Estimated in 2024 dollars. ESTIMATED 2025-2034 INFRASTRUCTURE DEVELOPMENT AND COSTS - THOMAS MARCUCCILLI NATURE PARK (a) 17 dated March 29, 2024 of Baker Tilly Municipal Advisors, LLC) (Subject to the comments in the attached Report THE CARMEL CLAY PARK AND RECREATION SYSTEM 2025-2029 ZONE IMPROVEMENT PLAN DR A F T THE CARMEL CLAY PARK AND RECREATION SYSTEM 2025-2029 ZONE IMPROVEMENT PLAN ESTIMATED ANNUAL 2024 IMPACT FEE REVENUES 2024 Estimated Estimated Impact Fee 2024 Housing Unit Per Housing Impact Fee Cumulative Year Growth Unit Revenues Revenues (a)(b) 2025 935 $5,370 $5,021,137 $5,021,137 2026 847 5,907 5,003,415 10,024,552 2027 847 6,498 5,503,757 15,528,309 2028 847 7,148 6,054,133 21,582,442 2029 838 7,863 6,588,783 28,171,225 2030 838 8,276 6,935,288 35,106,513 2031 838 8,276 6,935,288 42,041,801 2032 750 8,276 6,207,000 48,248,801 2033 750 8,276 6,207,000 54,455,801 2034 650 8,276 5,379,400 59,835,201 Totals 8,140 $59,835,201 (a) See page 8. (b) See page 7, assumes the phase-in schedule is applied as shown and that the maximum amount is implemented in year 6. (Subject to the comments in the attached Report dated March 29, 2024 of Baker Tilly Municipal Advisors, LLC) 18 DR A F T THE CARMEL CLAY PARK AND RECREATION SYSTEM 2025-2029 ZONE IMPROVEMENT PLAN ESTIMATED NEW POPULATION SHARE OF PRINCIPAL PAYMENTS ON OUTSTANDING AND PROPOSED BONDS New Population New Population Budget Principal Percentage of Contribution to Year Due Total Population Principal Due (a)(b)(c) 2025 $2,350,000 1.71%$40,190 2026 2,320,000 3.22%74,700 2027 2,345,000 4.61%108,100 2028 2,360,000 5.96%140,660 2029 2,360,000 7.19%169,680 2030 2,360,000 8.40%198,240 2031 2,375,000 9.57%227,290 2032 2,380,000 10.59%252,040 2033 2,390,000 11.59%277,000 2034 305,000 12.44%37,940 Total $1,525,840 (a) Represents annual principal payments due on the outstanding 2019 Bonds, Series A through L, and the 2022 Bonds during the planning horizon. (b) Based on the current and estimated population of the City as shown on page 8. (c) Assumes the contribution of new residents to the capital projects budget is proportional to the number of new residents compared to the total population of the City. (Subject to the comments in the attached Report dated March 29, 2024 of Baker Tilly Municipal Advisors, LLC) 19 DR A F T THE CARMEL CLAY PARK AND RECREATION SYSTEM 2025-2029 ZONE IMPROVEMENT PLAN ESTIMATED NEW POPULATION SHARE OF CAPITAL BUDGET Estimated New Population New Population Budget Capital Percentage of Contribution to Year Budget Total Population Capital Budget (a)(b)(c) 2025 $2,864,000 1.71%$48,970 2026 2,864,000 3.22%92,220 2027 2,864,000 4.61%132,030 2028 2,864,000 5.96%170,690 2029 2,864,000 7.19%205,920 2030 2,864,000 8.40%240,580 2031 2,864,000 9.57%274,080 2032 2,864,000 10.59%303,300 2033 2,864,000 11.59%331,940 2034 2,864,000 12.44%356,280 Total $2,156,010 (a) Represents the average total Capital Outlays from the Clay Township Park Capital Fund, per the Township Annual Report for the respective year, as shown on page 22. (b) Based on the current and estimated population of the City, as shown on page 8. (c) Assumes the contribution of new residents to the capital projects budget is proportional to the number of new residents compared to the total population of the City. (Subject to the comments in the attached Report dated March 29, 2024 of Baker Tilly Municipal Advisors, LLC) 20 DR A F T THE CARMEL CLAY PARK AND RECREATION SYSTEM 2025-2029 ZONE IMPROVEMENT PLAN Total Estimated Cost 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Total (b) West Park $4,332,600 ($433,260) ($433,260) ($433,260) ($433,260) ($433,260) ($433,260) ($433,260) ($433,260) ($433,260) ($433,260) ($4,332,600) Bear Creek Park (Northwest)12,562,548 (1,256,250) (1,256,250) (1,256,250) (1,256,250) (1,256,250) (1,256,250) (1,256,250) (1,256,250) (1,256,250) (1,256,250) (12,562,500) White River Corridor 22,341,804 (2,234,180) (2,234,180) (2,234,180) (2,234,180) (2,234,180) (2,234,180) (2,234,180) (2,234,180) (2,234,180) (2,234,180) (22,341,800) Central Core 20,031,858 (2,003,190) (2,003,190) (2,003,190) (2,003,190) (2,003,190) (2,003,190) (2,003,190) (2,003,190) (2,003,190) (2,003,190) (20,031,900) Chinese Garden 2,166,389 (216,640) (216,640) (216,640) (216,640) (216,640) (216,640) (216,640) (216,640) (216,640) (216,640) (2,166,400) Japanese Garden 6,030,240 (603,020) (603,020) (603,020) (603,020) (603,020) (603,020) (603,020) (603,020) (603,020) (603,020) (6,030,200) Thomas Marcuccilli Nature Park 8,140,781 (814,080) (814,080) (814,080) (814,080) (814,080) (814,080) (814,080) (814,080) (814,080) (814,080) (8,140,800) Total Cost (7,560,620)(7,560,620)(7,560,620)(7,560,620)(7,560,620)(7,560,620)(7,560,620)(7,560,620)(7,560,620)(7,560,620)($75,606,200) Estimated 2024 Impact Fee Revenues (c)5,021,137 5,003,415 5,503,757 6,054,133 6,588,783 6,935,288 6,935,288 6,207,000 6,207,000 5,379,400 Estimated Non-Local Revenue Credit (d)460,000 460,000 460,000 460,000 460,000 460,000 460,000 460,000 460,000 460,000 Estimated New Resident Bond Credit (e)40,190 74,700 108,100 140,660 169,680 198,240 227,290 252,040 277,000 37,940 Estimated Capital Budget Contribution (f)48,970 92,220 132,030 170,690 205,920 240,580 274,080 303,300 331,940 356,280 Estimated Net Revenues/(Loss)(1,990,323) (1,930,285) (1,356,733) (735,137) (136,237) 273,488 336,038 (338,280) (284,680) (1,327,000) Beginning Balance 4,262,667 (g) 2,272,344 342,059 (1,014,674) (1,749,811) (1,886,048) (1,612,560) (1,276,522) (1,614,802) (1,899,482) Ending Balance $2,272,344 $342,059 ($1,014,674)($1,749,811)($1,886,048)($1,612,560)($1,276,522)($1,614,802)($1,899,482)($3,226,482) (a) See page 10. Assumes expenditures necessary to meet the Level of Service requirements of new development. (b) See page 10. Represents 2024 cost estimates including construction and design contingencies. (c) See page 18. (d) See page 6. Assumes the credit is applied equally over the 10-year plan horizon. (e) See page 19. (f) See page 20. (g) See page 23. As of December 31, 2023 per the City. Note: No assumption has been made for the use of financial resources not identified in this ZIP to meet estimated capital needs of CCPR. It is anticipated that the estimated revenue shortfalls will be met by other available means of CCPR, the City, and Clay Township. (Subject to the comments in the attached Report dated March 29, 2024 of Baker Tilly Municipal Advisors, LLC) 21 Estimated Cost (a) Year ESTIMATED ANNUAL 2025-2034 IMPACT FEE REVENUES AND EXPENDITURES DR A F T THE CARMEL CLAY PARK AND RECREATION SYSTEM 2025-2029 ZONE IMPROVEMENT PLAN HISTORICAL RECREATION CAPITAL IMPROVEMENTS EXPENDITURES NOT FUNDED THROUGH RECREATION IMPACT FEES, DONATIONS OR DEBT Budget Capital Year Expenditures (a) 2019 $2,599,003.83 2020 2,479,892.45 2021 1,500,650.96 2022 3,725,855.18 2023 4,015,975.78 Average $2,864,000.00 (a) Represents total Capital Outlays from the Clay Township Park Capital Fund, per the Township Annual Report for the respective year. (Subject to the comments in the attached Report dated March 29, 2024 of Baker Tilly Municipal Advisors, LLC) 22 DR A F T THE CARMEL CLAY PARK AND RECREATION SYSTEM 2025-2029 ZONE IMPROVEMENT PLAN HISTORICAL IMPACT FEE RECEIPTS AND EXPENDITURES (a) Park Impact Fee Fund - 106 (Unaudited) Beginning Ending Year Balance Receipts Expenditures Balance 2014 $1,878,024.77 $1,146,089.32 $1,283,676.08 $1,740,438.01 2015 1,740,438.01 2,295,427.96 207,980.96 3,827,885.01 2016 3,827,885.01 910,690.07 512,081.18 4,226,493.90 2017 4,226,493.90 1,779,151.77 411,516.83 5,594,128.84 2018 5,594,128.84 1,195,063.27 4,344,892.26 2,444,299.85 2019 2,444,299.85 1,175,386.67 956,501.31 2,663,185.21 2020 2,663,185.21 980,387.66 2,534,329.10 1,109,243.77 2021 1,109,243.77 1,358,513.44 203,258.19 2,264,499.02 2022 2,264,499.02 845,984.40 310,328.74 2,800,154.68 2023 2,800,154.68 2,059,261.89 596,749.13 4,262,667.44 (a) Per the City. Note: Impact fee credits granted to developers are not accounted for in the above information. (Subject to the comments in the attached Report dated March 29, 2024 of Baker Tilly Municipal Advisors, LLC) 23 DR A F T APPENDIX A MAPS OF IMPACT ZONE DR A F T DR A F T APPENDIX B INDIANAPOLIS METRO AREA IMPACT FEE AMOUNTS DR A F T Indianapolis Metro Area Park Impact Fee Amounts $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $1 , 1 4 2 $1 , 1 5 3 $1 , 2 0 5 $1 , 2 2 7 $1 , 5 1 1 $1 , 5 2 5 $1 , 7 7 0 $2 , 0 4 5 $2 , 1 1 8 $2 , 5 3 3 $3 , 4 8 5 $3 , 4 9 2 $4 , 8 8 2 $5 , 3 7 0 Recreation Impact Fee Amount Note: represents the 2024 impact fee amounts for single-family homes. *Represents the first year phase-in amount of the proposed 2024 Impact Fee. Per page 6, the maximum 2024 Impact Fee amount if $8,276. DR A F T