Pasco County Transportation Impact Fee Update

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Pasco CountyTransportation Impact Fee Update

• October 18, 2006

Prepared By Tindale-Oliver Associates, Inc.
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Impact Fee Formula

• Impact Fee Cost x Demand - Credit

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Impact Fee Update

• Demand increased
• Costs more than doubled
• Credits increased

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2002 Cost Per Lane Mile
Based on lane miles distribution in 2025 LRTP
in 2002 update
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2006 Cost Per Lane Mile
Page 10 Appendix B
Based on 2025 LRTP Cost Affordable Plan Lane
Miles Added in 2005 update
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Cost Increases

• County - 322
• State - 149
• Added
• Carrying
• Interstate

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Cost Increases

• ROW - 193
• Construction/CEI - 188

2002
2006
0.42 M
1.23 M
2002
2006
1.29 M
3.72 M
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History of Transportation Costs
6.1 Million Pasco County 2006
1.9 Million Pasco County 2002
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Cost Summary
Cost Capacity
6.10M 9,992

611.20 VMC

Cost
611 for Every Vehicle Mile of Travel Added to
System
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Demandper Unit Development

• Trip Length
• Trips
• New Trips

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DemandAnalysis in Change

• If no change to demand components
• Single Family 213
• Movie Theatres 220
• Fast-Food Restaurant 221
• Bank w/Drive-In 219

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DemandAnalysis in Change

• If update to demand components
• Single Family 213 231
• Movie Theatres 220 310
• Fast-Food Restaurant 221 365
• Bank w/Drive-In 219 160

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Transportation Impact Cost (Single Family Home)

.002
X

Pages 10, 15, 22 Appendices B, D
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Review of Credits
Pennies Per Gallon Revenue Based on Gallons
1 CENT GAS TAX PER GALLON
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Fuel Efficiency Trend
50 Increase
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Gas TaxValue of Penny
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Credits

• Sources
• Gas Tax (State and County)
• Sales Tax (County)

Appendix C
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County Credit

• Gas Taxes 3.5 pennies
• Debt Service 2.1 pennies
• Sales Taxes 4.3 pennies
• Total 9.9 pennies
• (6.9 pennies)

Based on 2003 figures
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CreditsGas and Sales Tax
County 9.9 pennies (6.9) State 21.8
pennies (14.4) Total 31.7 pennies (21.3)

• Give Credit Based on Miles Traveled and Gas Tax
  Paid
• Gas Tax does not Increase over Time
• Single Family Home Gas Tax Credit of 2,805

Page 12 Appendix C
Based on 2003 figures
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Impact FeeSingle Family Home
2003 Study
2006 Study

• Cost 15,807 (5,355)
• Credit 2,805 (1,624)
• Fee 13,002 (3,731)

Fee 3,318 in 2004 3,928 in 2006
Based on 2003 figures
Appendix D
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Impact Fee Comparison
Polk 2006 proposed indexed impact fee schedule
Page 23
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Indexing

• Proposed Indexing Method Between Updates
• ROW
• Construction

Appendix E
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Future Indexing
Source Pasco County Property Appraiser FDOT
Index (2004 Transportation Costs Publication)
1) Change in Just Land Values 5-year Average
2) Design, CEI, Construction FDOT Price Trends
Index (3-year Average)
Appendix G
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Index vs. Recent Cost Trends

• Actual construction cost increases per year
• FDOT Price Trends index at 4.1 was too
  conservative

3-year period (2002-2004) 9.5 38
2-year period (2005-2006) 29 58
Annual Total
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Transportation CostsHistory
Indexing cannot be the only solution
Indexing worked
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Summary

• Cost Updated (Recent Trends)
• Demand Updated (TGR, TL, NT)
• Credits Updated (State, County)

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CORC Issues

• 2nd LOGT
• Ad Valorem Assessment

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Creditswith 2nd LOGT
County 14.3 pennies (9.9) State 21.8
pennies (21.8) Total 36.1 pennies (31.7)

• Single Family Gas Tax Credit of 3,199 (2,805)
• Single Family Fee of 12,608

Based on existing gas taxes
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Gas Taxes vs. Impact Fees
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Ad Valorem Assessment

• Revenue from 1-Mil - 25 M
• Residential Land Uses
• Single family home sales in 2005
• Average cost 231,000 per home

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Ad Valorem Assessment

• SF Credit - 1 Mil Dedicated To Capacity Expansion
  
• 50 - 3,500
• 75 - 5,300
• 100- 7,100

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Impact FeeSingle Family Home

• Proposed Net Fee 13,002
• Ad Valorem Credit 7,100
• New Fee 5,902

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Ad Valorem Taxes vs. Impact Fees
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Affordable Housing
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The End

• Questions/Answers

Impact Fee Comparisons
Demand/Unit of Development
Recent TIF Studies Costs
Cost per VMC
IF Comparison by County
Collier Example
Additional Considerations
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Additional Considerations

• Fee Options
• Phasing
• Indexing

BACK
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Impact Fee ComparisonDemand per Unit of
Development

• Note Fees shown are for the single family land
  use.
• Vehicle miles traveled based on formula (trip
  generation rate trip length percent new trips
  divided by 2) which yields gross VMT. The gross
  VMT is then multiplied by 1 minus the
  interstate/toll facility adjustment factor.

BACK
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Recent TIF Studies Costs
2005
Note design is included in construction cost
for all counties shown. Specifically for
Collier County, construction cost includes
interchange, carrying, utilities, and
mitigation. Pasco Countys cost also includes
carrying costs.
BACK
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Impact Fee ComparisonCost per VMC
Note Fees shown are for the single family land
use (1) Collier total cost includes utilities,
mitigation, interchange, and carrying cost that
are in addition to Design, ROW, CEI, and
Construction. Pasco County total cost includes
a carrying cost. (2) Based on county and state
roads blended by LRTP lane miles being added (3)
Total cost per lane mile (Item 1) divided by
weighted average capacity per lane mile (Item 2)
BACK
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Impact Fee Comparison
Proposed
Note Fees shown are for the single family land
use. (1) Cost per VMC multiplied by vehicle
miles traveled (VMT) (2) Sum of gas tax credit
and ad valorem credit (3) The total impact cost
(Item 1) less the total credit (Item 2)
BACK
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Impact Fee Options
(1) Option includes interstate travel and cost.
Source Appendix D-1 (2) Option excludes
interstate travel and cost and includes carrying
cost. Source Appendix E-1 (3) Option excludes
carrying cost. Source Appendix F-1
Back
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Phasing and Indexing
Back

• Option 1 Including Interstate, Carrying, and
  Interchange Costs

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Trip Length Analysis
BACK
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Collier Example

• Comparison of Pasco and Collier SF fee

BACK