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<br />1998 <br />Center <br />A~ m <br />Federal Highway Enhancement Fund 2002 <br />Total Grant Funding 998-2002 $627,727 <br />Average Annual Grant $126.000 <br />Parks December <br /> <br /> <br />It is reasonable to assume that the grant received per park service unit in the past will continue <br />in the future. Dividing the average annual grant funding by existing service units yields annual <br />funding per service unit. Multiplying that by the present value factor results in the cunent lump sum <br />amount that is the equivalent of the future stream of outside funding the will receive over the next <br />20 years to help fund park improvements, Based on these assumptions, the appropriate credit for <br />potential grant funding for parks is $93 for each new single-family home, or park service unit <br />equivalent, as shown in Table 31. <br /> <br />Table 31 <br /> <br />P ARK GRANT FUNDING CREDIT <br />Average Annual Grant Funding $126,000 <br />Existing Park EDUs, 2003 7,239 <br />Annual Funding per EDU $7.31 <br />Present Value Factor (20 years @ 4.7%) 12.79 <br />Grant Funding Credit per EDU $93 <br />Source: Average annual gmnt funding from Table 30; existing <br />park EDUs from Table 24; discount rate for present value factor <br />from 11, <br /> <br />Reducing the cost per service unit the debt credit and the anticipated grant funding per service unit <br />leaves a net cost of $639 per EDU to maintain the existing level of service. <br /> <br />Table 32 <br /> <br />P ARK NET COST PER SERVICE UNIT <br />Cost per EDU S883 <br />Debt Credit per EDU S151 <br />Grant Funding Credit per EDU S93 <br />Net Cost per EDU S639 <br />Source: Cost per EDU fyom Table 28; debt credit per EDU fyom Table 29; grant funding <br />credit per EDU from Table 31 <br />Conway\Road and Park Impact Fee Study April 15,2003 DRAFT, Page 27 <br /> <br />Figure 13 <br />PARK FEES BY BEDROOM CATEGORIES <br />POTENTIAL IMP ACT FEES <br /> <br />The maximum park impact fees that could be charged within the City limits, based on the data, <br />methodology and assumptions utilized in this repOli, are presented in Table 33, Two altemative <br />methods of assessing park impact fees for single-family detached housing units are presented in the <br />table: a flat fee per unit or a variable fee by number of bedrooms, A third altemative is for the fees to <br />be charged based on a cost per square foot. This last altemative is recommended if a variable fee <br />