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<br />
<br />Credit for Future Payments on Police Headquarters
<br />
<br />Because a plan-based approach is the major cost component of the police impact fees, TA
<br />recommends a credit for future principal payments on bonds that will fund planned capital
<br />improvements. Because interest costs have not been added to the impact fees, it is not
<br />appropriate to provide a credit for future interest payments. A principal payment credit
<br />ensures new development does not pay twice for the police headquarters through one-time
<br />impact fees and on-going revenues, such as property and utility taxes. Figure 17 indicates
<br />preliminary principal payments on the police headquarters, assuming a 25-year bond at
<br />5.5% annual interest. The proportionate share factors used in the cost allocation were also
<br />used to allocate future principal payments by type of development. A net present value
<br />adjustment accounts for the time value of the future revenue stream.
<br />
<br />Figure 17 - Principal Payment Credit
<br />
<br />Fiscal
<br />Year
<br />2003
<br />2004
<br />2005
<br />2006
<br />2007
<br />2008
<br />2009
<br />2010
<br />2011
<br />2012
<br />2013
<br />2014
<br />2015
<br />2016
<br />2017
<br />2018
<br />2019
<br />2020
<br />2021
<br />2022
<br />2023
<br />2024
<br />2025
<br />2026
<br />2027
<br />TOTAL $3,240,000
<br />
<br />Discount Annual Percentage Rate
<br />Net Present Value
<br />
<br />Principal Population Payment Hotel Payment Vehicle Trips Payment
<br />Payments in Hsg Units Per Person Rooms Per Room to Businesses Per Trip
<br />$63,340 21,619 $0.91 2,241 $5.94 11,959 $2.54
<br />$66,824 22,074 $0.94 2,245 $6.25 12,352 $2.60
<br />$70,499 22,482 $0.97 2,249 $6.58 12,744 $2.66
<br />$74,376 22,894 $1.01 2,253 $6.93 13,137 $2.72
<br />$78,467 23,309 $1.04 2,257 $7.30 13,529 $2,78
<br />$82,783 23,727 $1.08 2,260 $7,69 13,922 $2,85
<br />$87,336 24,148 $1.12 2,264 $8.10 14,315 $2,93
<br />$92,139 24,430 $1.17 2,268 $8.53 14,707 $3.01
<br />$97,207 24,713 $1,22 2,272 $8.98 15,100 $3,09
<br />$102,553 24,996 $1.27 2,276 $9.46 15,492 $3,18
<br />$108,194 25,279 $1.33 2,280 $9,96 15,885 $3.27
<br />$114,144 25,561 $1.38 2,284 $10.49 16,278 $3,37
<br />$120,422 25,844 $1.44 2,288 $11.05 16,670 $3.4 7
<br />$127,046 26,382 $1.49 2,292 $11.64 17,063 $3,57
<br />$134,033 26,733 $1,55 2,296 $12.26 17 ,455 $3.69
<br />$141,405 27,083 $1.62 2,300 $12,91 17,848 $3,80
<br />$149,182 27,434 $1.69 2,304 $13.60 18,240 $3.93
<br />$157,387 27,784 $1.76 2,308 $14.32 18,633 $4.05
<br />$166,043 28,135 $1.83 2,312 $15.08 19,026 $4.19
<br />$175,176 28,485 $1.91 2,316 $15.89 19,418 $4.33
<br />$184,810 28,836 $1.99 2,319 $16.73 19,811 $4.48
<br />$194,975 29,186 $2.07 2,323 $17,62 20,203 $4,63
<br />$205,699 29,537 $2.16 2,327 $18.56 20,596 $4.79
<br />$217,012 29,887 $2.25 2,331 $19.55 20,989 $4,96
<br />$228,948 30,238 $2.35 2,335 $20,59 21,381 $5.14
<br />
<br />$37.55
<br />
<br />$296.04
<br />
<br />$90,02
<br />
<br />5.5%
<br />$18.05
<br />
<br />5.5%
<br />$137.78
<br />
<br />5.5%
<br />$44.53
<br />
<br />18
<br />
<br />Tischler & Associates, Inc.
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