4A.20.020 Impact Fee Calculations.
A. The impact fee schedule is calculated based upon the formula set forth in this Section. The formula is the County's determination of the appropriate proportionate share of the costs to be funded by park impact fees of park system capital facilities needed to serve new growth and development. In determining proportionate share, the formula for calculating impact fees incorporates:
1. An adjustment to the cost of the public facilities for past or future payments made or reasonably anticipated to be made by new development to pay for particular system improvements in the form of user fees, debt service payments, taxes, or other payments earmarked for or proratable to the particular system improvement; and
2. The availability of other means of funding public facility improvements.
B. The Impact Fee Obligation shall be adjusted biennially according to the average of the Building Cost Index and the Construction Cost Index (published by the Engineering News-Record). The most recently published indexes shall be used to adjust the fee obligation for the following two years. This adjustment shall be brought forth by ordinance following adoption of the County Capital Facility Plan and any review of impact fees pursuant to PCC 4A.10.130.A.
C. The park impact fee schedule shown in the table under PCC 4A.20.030.A shall be calculated using the following formulas:
V/P = I
I - PS = AI
AI x U = Impact Fee Obligation per dwelling unit
Where:
-- "AI" means the adjusted investment per capita based on proportionate share.
-- "I" means the per capita amount the County has invested in the park system.
-- "P" means the current population total in the unincorporated county.
-- "PS" means the proportionate share of other revenue sources and is an adjustment for the portion of anticipated additional tax revenues resulting from a development which is proratable to system improvements contained in the Capital Facilities Plan.
-- "U" means the average persons per dwelling unit for the unincorporated county.
-- "V" means the total Park System Value and includes the value of all land and facilities managed by the County's Parks and Recreation Department, expressed in dollars.
D. The Level of Service used to calculate impact fees for the Park Impact Fees Schedule shall be updated with the amendments to the Capital Facilities Plan element of the Pierce County Comprehensive Plan. Any impact fee shall be based on the Capital Facilities Plan in effect when the fee is assessed.
E. The Park Impact Fee Obligation in this Section continues until adjusted by Ordinance.