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BOOK <br />nor 17 1982 <br />II. ANALYSIS OF SINGLE FAMILY RESIDENTIAL DEVELOPMENT <br />The per capita multiplier method will also be used to <br />calculate the -costs to the County of single family <br />residential development on the parcel east of I-95 and <br />south of State Road 60. The assumptions inherent in this <br />method were listed at the beginning of the Mobile Home <br />Park analysis and will not be restated. <br />Cost Information <br />Most of the initial cost calculations for residential <br />development were done in the Mobile Home Park section of <br />this analysis. The County and County School District's <br />1982-83 Budgets will be the basis for cost information <br />in this section also. Thus, the County per capita service <br />cost, $304, and School District's per pupil cost, $3373, <br />will.be the same. <br />This analysis differs from the Mobile Home Park analysis in <br />the number of residents and students which the development <br />can be expected to generate. Using the demographic multi- <br />pliers for single family residential units which have been <br />compiled using U. S. Census Bureau information (See Attach- <br />ment #B), based on 564 units, it can be estimated that the <br />development would have 2129 residents, 637 of whom are <br />students. <br />2129 - Residents <br />x $ 304 - County per capita service cost <br />$647,216 = Total County service cost attributable to <br />single family residential development. <br />637 - Potential new students <br />$3373 - Per pupil cost <br />$2,148,601:-= Total cost to school district of single-family <br />residential development <br />$ 647,216 - County's cost <br />$2,148,601 - School District's cost <br />$2,795,817 = Total public cost of the development <br />-Revenues Generated by a Single -Family Residential Development <br />Assumptions <br />As with the mobile home park analysis, the applicant and <br />planning department staff have a mutual understanding that <br />single-family development will have a gross density of 4.7 <br />dwelling units per acre and 15 acres are to be used for a <br />lake and drainage improvements. It is assumed that the <br />development is to have its own sewer and water facilities. <br />Using these considerations, the maximum number of single- <br />family dwelling units which could be built onihe proposed <br />site is 564. Also, the assessed value per home is assumed <br />to be $60,000. <br />Analysis <br />564 Homes x $60,000 Assessment = $33,840,000 <br />x .85 Equalization Ratio = $28,764,000 <br />This $28,764,000 assessment does not take into consideration <br />Homestead Exemptions. Homeowners living in Florida more than <br />five (5) years are elegible for a $25,000 exemption. Those <br />living in Florida less than five (5) years are eligible for <br />a.,$5,000 exemption. Since most large residential developments <br />are built in phases, rather than all at once, it seems <br />reasonable to assume that not all residents in this parcel <br />would be eligible for a $25,OOO'Homestead Exemption at the <br />same time. Staff has determined that for this analysis half <br />