10/30/1985 - Laserfiche WebLink

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M ® r Chairman Lyons asked how people can be assured that the impact fees collected will be used in their districts and whether nine districts were enough. Dr. Nicholas believed nine districts were more than sufficient and explained in depth how the districts were designed. Impact fees will be spent within the same district in which they are collected, with the exception that each district will pay a certain percentage of the cost of a new or expanded bridge. He reviewed the following example of assessment for a single family category: An example would bd'the single-family category. The total miles driven equals 46.44 miles per day. For 365 days this -is 16,951 miles. At 17.16 MPG this is 968 gallons of motor fuel per year. At 9.7 cents per gallon, total (state and local) motor fuels revenues would be $95.82 per year, one-half of which ($47.91) would be attributable to the origin (the single-family unit). The total motor fuel receipts must be divided into maintenance and capital portions. The capital portion is 3.995 cents per gallon. Thus annual capital revenues from a single family home would be $19.73. Dr. Nicholas stressed that the impact fee is due and payable at the time the building permit is obtained. Considerable discussion took place re the 6% interest rate that would be refunded to individuals or developers if monies from the impact fees were not spent or encumbered. Dr. Nicholas explained that the State uses 6% in these cases, but if the Board wished to pay a higher interest rate, it could be adjusted. County Attorney Charles Vitunac noted that the State has been using 12% since 1981. Dr. Nicholas concluded this portion of the study by stating that if the Board is satisfied with the preliminary project as presented, Barton-Aschman will go ahead and refine the figures. 9 [ �j Bou 6 �r,UC.5 J T 3 0 1995