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Austin Transportation DepartmentStreet Impact FeesImpact Fee Advisory Committee: 12-18-2019 2Overview•Comments on Draft Report•Next Steps on Report•Public Engagement Process•Policy •Rate Considerations•Technical Discounts•Policy Discounts•Schedule 3Comments on Draft Report 4Comment Log: 5Next Steps on Report 6Next Step on Report•Page 109/110•Calculate (Finance, Interest and Credit)Service AreaGICost of the Roadway Impact Fee RCP Attributable to New Growth Less Developer Contributions$160,784,452$32,873,944Pre-Credit, Pre-Financing Maximum Fee Per Service Unit$2,395$1,351Financing Costs$77,703,743 $14,084,230 Interest Earnings$(28,218,241)$(5,015,887)Credit for Ad Valorem $(4,055,190)$(288,599)Recover Cost of Street Impact Fee RCP and Financing$206,214,764 $41,653,689 Maximum Assessable Fee per Service Unit$3,071 $1,712 7Next Step on Report•Finalize Report in January•Recommendation on Report (Not on Collected Fee) 8Public Engagement Process 9Public Engagement Initial Thoughts:•January –E-mail referring to updated information on website•Service Units 101•Maximum Fee 101•February –E-mail blast referring to Final Draft Report online and opportunity for presentations:•Webinar•Presentations (potential hosting by City and/or organizations) 10Policy 11Rate Considerations 12Impact Fee Results•Study Determines Maximum Fee•Council Determines Effective Rate•End result looks like a table as follows:Service AreaDRAFTMax Impact Fee(vehicle-mile)Study DeterminesEffective Rate Impact Fee(vehicle-mile)Council DeterminesG$3,071$X,XXXI$1,712$Y,YYY 13Sample Developments:Collection Rate OptionsDEVELOPMENTUNITSMulti-FamilyResidential: 298 ApartmentsOfficeOffice: 55,000 ft2OfficeMixed UseOffice: 397,000 ft2Restaurant: 46,700 ft2Residential: 250 ApartmentsHotel: 100 Rooms 14Collection Rate Comparison to Maximum Assessable Fee Austin DevelopmentAustinMitigation/ TIA ContributionService Area G Draft (Outside Loop)Service Area I Draft (Inside Loop)298 Apartments*$86,288$2,205,531$826,48555,000ft2Office$317,388$657,040$402,063397,000 ft2 Office46,700 ft2 Restaurant250 Apartments*100 Room Hotel$628,000$8,791,530($8,351,953)**$4,816,284($4,575,470)*** Assumes ITE Code 220 for Apartments (Highest Trip Gen)** 5% Internal Capture Reduction 15Collection Rate ComparisonsAustin DevelopmentAustinMitigation/ TIA ContributionService Area G Draft (Outside Loop)Service Area I Draft (Inside Loop)Round Rock(Not Effective yet)+Frisco+(Lowest SA)Fort Worth+(Flat Rate all SA’s)Prosper+(Lower SA)Frisco+(Highest SA)Prosper+(Higher SA)298 Apartments*$86,288$2,205,531$826,485$424,104$365,3488$631,164$1,059,688$803,408$1,397,62055,000ft2Office$317,388$657,040$402,063$107,402$216,315$177,870$214,005$475,915$282,260397,000 ft2 Office46,700 ft2Restaurant250 Apartment*100 Room Hotel$628,000$8,791,530($8,351,953)**$4,816,284($4,575,470)**$1,566,632$2,395,819$2,274,362$2,785,632$5,270,671$3,674,050+ Note: Comparison cities are collection rate, whereas Service Area Drafts are maximum fee allowable from pre-credit report.* Assumes ITE Code 220 (Most Intense Trip Generation) for Apartments** 5% Internal Capture Reduction 16Rate Strategies:•Maximum fee versus Collected Rate•Cost for Vehicle-Mile versus Cost per Unit•Flat Dollar Amount•Flat Percentage Amount•Reduction for Non-Residential (or Residential)•Neutral -Mirror Current Proportionality Rate •($800 -$1200 / vehicle mile)•Base on Revenue Projections 17Technical Strategies:•Internal Capture Discount•The amount of street impact fees due shall be reduced up to XX% for any development where an accepted traffic impact study demonstrates that the development will reduce the vehicle trips from those contained in the adopted land use equivalency table•Travel Demand Management Discount•The amount of street impact fees due shall be reduced up to XX% for any development where an accepted travel demand management techniques demonstrates that the development will reduce the vehicle trips from those contained in the adopted land use equivalency table based on adopted percentages in the Transportation Criteria Manual. •Other Technical Considerations 18Policy Strategies:•Affordable Housing versus Workforce Housing•Incentives •Other Considerations 19Schedule 20Schedule•Next IFAC Meetings•January•Full Report with all maximum fee info –motion for comments on study•Staff considerations for fee recommendations (2-3 options)•Draft ordinance framework•February•Draft Ordinance Review•Start Outreach Meetings (Approve Report if not in January) 21Questions