| Snoqualmie
Valley School District No. 410 |
| 2007 FORMULA Impact Fees --
Multi-Family Residences |
|
| Site
Aquisition Cost Per Multi-Family Residence |
|
| Formula: ((Acres x Cost per Acre) / Facility Size) x
Student Factor |
|
|
Site Size |
Cost / Acre |
Facility Size |
Student Factor |
| A1
(Elem) |
15 |
$0 |
600 |
0.1300 |
$0.00 |
| A2
(Middle) |
25 |
$0
|
600 |
0.0370 |
$0.00
|
| A3
(Sr High) |
40 |
$297,000 |
1,500 |
0.0510 |
$403.92 |
|
A----------> |
$403.92 |
| Permanent
Facility Construction Cost Per Multi-Family Residence |
|
| Formula: ((Facility Cost / Facility Size) x Student
Factor) x (Permanent/Total Footage Ratio) |
|
Facility Cost |
Facility Size |
Student Factor |
Footage Ratio |
|
| B1
(Elem) |
$21,700,000 |
600 |
0.1300 |
0.9405 |
$4,421.92
|
| B2
(Middle) |
$16,770,000
|
600 |
0.0370 |
0.9405 |
$972.62 |
| B3
(Sr High) |
$76,930,000
|
1,500 |
0.0510 |
0.9405 |
$2,459.99 |
|
B---------> |
$7,854.53 |
| Temporary
Facilities Cost Per Multi-Family Residence |
|
|
| Formula: ((Facility Cost / Facility Capacity) x
Student Factor) x (Temporary/Total Footage Ratio) |
|
Facility Cost |
Facility Capacity |
Student Factor |
Footage Ratio |
|
| C1
(Elem) |
$75,000 |
23 |
0.1300 |
0.0595 |
$25.22 |
| C2
(Middle) |
$75,000 |
25
|
0.0370 |
0.0595 |
$6.60 |
| C3
(Sr High) |
$75,000 |
27
|
0.0510 |
0.0595 |
$8.43 |
|
C---------> |
$40.25 |
|
| State
Match Credit Per Multi-Family Residence |
|
|
| Formula: Boeckh Index x SPI Footage x District Match
x Student Factor |
|
|
Current Boeckh |
SPI
Footage |
District Match % |
Student Factor |
| D1
(Elem) |
$162.43 |
90 |
39.55% |
0.1300 |
$751.62 |
| D2
(Middle) |
$162.43 |
117 |
39.55% |
0.0370 |
$278.10 |
| D3
(Sr High) |
$162.43 |
130 |
39.55% |
0.0510 |
$425.92 |
|
D----------> |
$1,455.64 |
|
|
| Tax
Credit Per Multi-Family Residence |
|
|
Average Residential Assessed Value
------------------> |
$144,147 |
|
|
Current Debt Service Tax Rate
----------------------------> |
$2.8818 |
|
|
Bond Buyer Index Annual Interest
Rate ---------------> |
4.08% |
|
|
Discount Period (10 Years)
---------------------------------> |
10 |
|
|
TC--------> |
$3,355.96 |
|
|
| The Tax
Credit Calculation can be expressed in the following formula : |
|
| ((1+Interest
Rate)^10)-1 |
|
| Interest
Rate(1+Interest Rate)^10 |
x Average AV x Rate/Thousand = Tax Credit |
|
| The Tax
Credit can also be calculated by inserting these values into the spreadsheet |
|
| Function
commonly used for calculating Present Value: |
|
| PV(Interest
Rate, Discount Period, (Average Assessed Value x Tax Rate)) = Tax Credit |
|
| Developer
Provided Facility Credit |
|
| Formula:
(Value of Site or Facility) / (Number of Development Dwelling Units) |
|
|
Provided Facility or Site Value |
Dwelling Units |
|
|
|
|
|
|
FC--------> |
|
|
| Fee Recap |
|
| A = |
$403.92 |
|
|
| B = |
$7,854.53 |
|
|
| C = |
$40.25 |
|
|
| Subtotal |
|
$8,298.70 |
|
| D = |
$1,455.64 |
|
|
| TC = |
$3,355.96 |
|
|
| Subtotal |
|
$4,811.60 |
|
|
|
|
| Total
Unfunded Need |
$3,487.10 |
|
| 50% Local
Share |
($1,743.55) |
|
| FC (If
Applicable) |
$0.00 |
|
|
|
|
| Net
Fee Obligation |
$1,743.55 |
|
|
|
|
|
|
|