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<br />1.2.1.3 Improvement Fee Cost Basis
<br />Table E-8 shows the calculation of the improvement fee cost basis. The growth share of project
<br />costs from Table ES-6 and ES-7 are summed and the existing SDC fund balance is deducted
<br />from the total.
<br />Table E-8
<br />Improvement Fee Cost Basis
<br />New Capacity Costs
<br />Park/Facility Type Rehabilitation
<br />Costs
<br />Existing Park
<br />Performance
<br />New Land
<br />Acquisition New Facilities Total Costs
<br />Parks & Trails1 $18,560,000 $30,658,000 $32,931,000 $30,269,000 $112,418,000
<br />Growth Share % 0% 9% 81% 87% 50%
<br />Growth Share $ $0 $2,796,938 $26,801,979 $26,261,065 $55,859,982
<br />Recreation Facilities
<br />& Amenities2 $18,182,178 $5,570,000 $77,507,130 $101,259,308
<br />Growth Share % 0% 12% 50% 39%
<br />Growth Share $ $0 $648,051 $38,575,402 $39,223,453
<br />Total Improvements $36,742,178 $36,228,000 $32,931,000 $107,776,130 $213,677,308
<br />Growth Share % 0% 10% 81% 60%
<br />Growth Share $ $0 $3,444,990 $26,801,979 $64,836,466 $95,083,435
<br />Less Existing SDC Fund Balance -$7,805,174
<br />Improvement Fee Cost Basis $87,278,261
<br />1 From Table E-6
<br />2 From Table E-7
<br />1.2.2 Reimbursement Fee
<br />1.2.2.1 Growth Share of Existing System Capacity
<br />For the reimbursement fee, the cost basis is the sum of the value of the existing system parks
<br />and facilities that will serve growth. The units needed to meet growth capacity needs are based
<br />on the LOS analysis (shown in Table E-4). The land and development costs reflect historical
<br />average unit costs from prior improvements constructed by the City. The reimbursement fee
<br />cost basis is shown in Table E-9.
<br />Table E-9
<br />Preliminary Reimbursement Fee Cost Basis
<br />Units Needed For
<br />Growth1 Unit Costs ($/Unit)2 Growth Costs
<br />Park Type Total
<br />Acreage
<br />Developed
<br />Units
<br />Acquisition
<br />($/acre)
<br />Development
<br />($/unit) Acquisition Development Total
<br />Parks Acres
<br />Neighborhood 22.2 -$125,000 $400,000 $2,776,591 $0 $2,776,591
<br />Community 63.1 -$55,000 $3,469,251 $0 $3,469,251
<br />Metropolitan 173.2 29.7 $80,000 $250,000 $13,857,049 $7,425,117 $21,282,166
<br />Natural Area 92.1 -$10,000 $921,186 $0 $921,186
<br />Urban Plazas - - $0 $0 $0
<br />Linear Parks 51.0 -$23,161 $1,181,214 $0 $1,181,214
<br />Subtotal Parks 401.6 29.7 $22,205,291 $7,425,117 $29,630,408
<br />Facilities
<br />Botanical Gardens 0.9 $500,000 $0 $468,584 $468,584
<br />Reimbursement Fee Cost Basis $22,205,291 $7,893,701 $30,098,992
<br />1 From Table E-4
<br />2 Based on historical 10-year average cost of prior acquisition and development. January 21, 2020, Public Hearing – Item 1Page 110
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