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The maximum park impact fees that could be charged within the City limits, based on the data, methodology and assumptions utilized in this report, are presented in Table 33. Two alternative methods of assessing park impact fees for single-family detached housing units are presented in the table: a flat fee per unit or a variable fee by number of bedrooms. A third alternative is for the fees to be charged based on a cost per square foot. This last alternative is recommended if a variable fee approach is used, as it avoids sharp jumps in the fee at thresholds between the size categories, and it is described more fully below. Table 33 PARK NET COST PER DWELLING UNIT Housing Type EDUsl Unit Net Cost! EDU Net Cost! Unit Single-Family, 2-Bedroom, 1,129 sq. ft. avg. 0.78 $639 $498 Single-Family, 3-Bedroom, 1,688 sq. ft. avg. 1.06 $639 $677 Single-Family, 4-Bedroom, 2,684 sq. ft. avg. 1.20 $639 $767 Single-Family, 5-Bedroom, 3,923 sq. ft. avg 1.28 $639 $818 All Single-Family Detached Units 1.00 $639 $639 Multi-Family 0.70 $639 $447 Mobile Home 0.87 $639 $556 Source: EDUs per unit from Table 22; net cost per EDU from Table 32. As with the road impact fees, the park net cost schedule would allow several alternative ways of charging single-family detached units: (1) all single-family units could be charged the same fee, using the single-family average shown in the fee schedule; (2) the fees could vary by the size of the dwelling unit. This last alternative is described more fully below. New development could be assessed on the basis of unit size in several ways. One way would be to create size categories that correspond to the number of bedrooms using the midpoints between the averages. A problem with this approach is that as you cross the size threshold between a two-bedroom and a threebedroom unit, for example, the fee would go up by almost $200 for adding one additional square foot (see Figure 13). 3The equation is y = 250 * Ln(x) - 1,225, where y is the maximum impact fee for the dwelling unit and x is the floor area of the unit in square feet; the R2 is 0.930, the adjusted R2 is 0.896 and the T-statistics are -3.3 for the intercept and 5.2 for the coefficient. Conway\Road and Park Impact Fee Study April 15, 2003 DRAFT, Page 28 Figure 14 PARK FEES BY UNIT SIZE To avoid these kinds of threshold effects, park impact fees for single-family units could be assessed using a sliding scale. Regression analysis was used to determine the curve that best fits the four data points (shown as squares in Figure 14). The resulting semi-logarithmic equation (shown as the dashed line in Figure 14) explains 93 percent of the variance.3 The graphed relationship corresponds with common sense, which suggests that the number of residents per square foot will begin to taper off with very large units. While permit clerks cannot be expected to calculate fees at the counter using a logarithmic equation, it is a simple matter to develop a fee schedule using 100 square foot or other intervals. An example of such a schedule using 250 and 500 square foot intervals is shown in Table 34 below.