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I <br />BOOK fAGL? <br />Impact Fee Formula <br />i* Impact Fee Credit = ((TGR(2) x TL x %NT x TPG x DAYS x <br />PWF]/(MPG) (Travel Demand x Unit Credit) <br />• where: <br />— TGR = Trip Generation Rate; <br />— TL = Average Trip Length. Including to allsubdivisiar travel (miles); <br />— %NT = Percent of New Trips; <br />— TPG = Tax paid per gallon of gasoline which Is expected to be applied towards construction of new capacity; <br />— DAYS = Number of days in the year; <br />— PVIF - Net present value factor at / percent over N years; <br />- MPG = Estimated average miles per gallon. <br />Credit Component <br />• Reduces the Impact Fee <br />• Based on Capital Expenditures <br />• Credit Increased Significantly <br />• from 6 cents to 11.8 cents per gallon <br />+Adjustments to Other Factors <br />Impact Fee Schedule Alternatives <br />Recommendations <br />• Updated trip characteristics <br />• New land use categories <br />• Updated cost and credit components <br />• Rate schedule contained in proposed ord <br />• 15% discount <br />Review of Transportation Impact Fee Administrative <br />Processes <br />Fair Share Roadway Improvements Ordinance <br />• Reduces number of districts from 9 to 3 <br />• Changes assessment methodology <br />• Allows transfer of credits within districts <br />Impact Fee Schedule Alternatives <br />LOCAL OPTION GAS TAX OPTION <br />• CURRENTLY 6 CENTS <br />• ELMS 1-5 CENTS <br />• 9TH CENTNOTED <br />5 CENTS=IMPACT FEE REVENUE <br />;h ADVANTAGES & DISADVANTAGES <br />COMMITTEE RECOMMENDATIONS <br />STAFF RECOMMENDATION <br />«ADOPT ATTACHED ORDINANCE <br />+ ESTABLISH JULY 6, 1999 AS EFFECTIVE DATE <br />»ALLOW USE OF NEW FEE SCHEDULE PRIOR TO EFFECTIVE <br />DATE <br />MAINTAIN EXISTING BENEFIT DISTRICT TRUST FUNDS UNTIL <br />ALL FUNDS EXPENDED <br />+ DON'T CHANGE TIME OF COLLECTION <br />MAY 119 1999 <br />TT <br />