Reso 2001-343 - Laserfiche WebLink

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1:\1r:'i\GT FtF':c TA recommends that impact fee revenue should be placed in a separate fund and only be used for the capital improvements, as documented in the impact fees study. Interest earned on monies in the separate fund should be credited to the fund. All costs in the impact fee calculations are given in current dollars with no assumed inflation rate over time. Necessary cost adjustments can be made as part of a recommended periodic evaluation and update of impact fees, which should take place every two or three years. The City can make interim-year adjustments for inflation in construction costs by using an index like the one pUblished by Engineering News Record (ENR). This index could be applied against the adopted impact fee schedule. If cost estimates change significantly the City should redo the fee calculations. Nonresidential development categories are based on land use classifications from the book Trio Generation (ITE, 1997). A summary description of each development category is provided below. Shopping Center (820) - A shopping center is an integrated group of commercial establishments that is planned, developed, owned and managed as a unit. A Shopping center provides on-site parking facilities sufficient to serve its own parking demands. Shopping centers may contain non- merchandizing facilities, such as office buildings, movie theaters, restaurants, post offices, banks, health clubs and recreational facilities. In addition to the integrated unit of shops in one building or enclosed around a mall, many shopping centers include out-parcels. For smaller centers without an enclosed mall or peripheral buildings, the Gross Leasable Area (GLA) may be the same as the Gross Floor Area (GFA) of the building. General Office (710) - A general office building houses multiple tenants including, but not limited to, professional services, insurance companies, investment brokers and tenant services such as banking, restaurants and service retail facilities. In the impact fees study, this category is used as a proxy for institutional uses that may have more specific land use codes. 28 Tischler & Associates, Inc.