Administration | School Impact Fees
9. Interest due upon the refund of impact fees required by this section shall be calculated according to the average rate received by the City or the district on invested funds throughout the period during which the fees were retained.
TC = Tax payment credit = the net present value of the average assessed value in district for unit type X current school district capital property tax levy rate, using a 10-year discount period and current interest rate (based on the Bond Buyer Twenty Bond General Obligation Bond Index) FC = Facilities credit = the per-dwelling unit value of any site or facilities provided directly by the development THEN: the unfunded need = UN = A1 + . + C3 - (D1- D2 - D2) - TC
J. Formula for determining school impact fees
IF:
A = Student factor for dwelling unit type and grade span X site cost per student for sites for facilities in that grade span = Full cost fee for site acquisition cost B = Student factor for dwelling unit type and grade span X school construction cost per student for facilities in that grade span X ratio of district’s square footage of permanent facilities to total square footage of facilities = Full cost fee for school construction C = Student factor for dwelling unit type and grade span X relocatable facilities cost per student for facilities in that grade span X ratio of district’s square footage of relocatable facilities to total square footage of facilities = Full cost fee for facilities construction D = Student factor for dwelling unit type and grade span “Boeckh index” X SPI square footage per student factor X state match % = State Match Credit, and
AND the developer fee obligation (local impact) = F = UN x 75%
AND the net fee obligation = NF = F - FC
Notes:
1. Student factors are to be provided by the school district based on district records of average actual student generation rates for new developments constructed over a period of not more than five years prior to the date of the fee calculation; if such information is not available in the district, data from adjacent districts, districts with similar demographics, or county-wide averages must be used. Student factors must be separately determined for single- family and multifamily dwelling units, and for grade spans. 2. The “Boeckh index” is a construction trade index of construction costs for various kinds of buildings; it is adjusted annually. 3. The district is to provide its own site and facilities standards and projected costs to be used in the formula, consistent with the requirements of this chapter.
A1, B1, C1, D1 = A, B, C, D for elementary grade spans
A2, B2, C2, D2 = A, B, C, D for middle/junior high grade spans
A3, B3, C3, D3 = A, B, C, D for high school grade spans
670 | Title 21: Sammamish Development Code
Effective | January 1, 2022
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