| |
year-round education
Estimate of Impact Fees on the Cost of Construction
This estimate is based on the information provided by the City of Holiet that was included in their press release at the time the school facility impact fees were announced. According to Joliet, 10,000 homes per year are projected to be built in ten Will County communities over the next 15 years resulting in aggregate impact fees of $800,000,000.
| |
10,000 |
houses built per year |
| |
15 |
years |
| |
150,000 |
houses |
| Total impact fee |
$800,000,000 |
|
| |
150,000 |
houses |
| |
$5,333 |
impact fees per house |
| Projected housing build out: |
|
|
Plainfield |
28,368 |
|
Joliet |
7,806 |
|
| |
36,174 |
houses |
| Impact fee per house |
$5,333 |
|
| Impact fees for District 202 |
$192,928,000 |
|
| Projected construction costs |
$1,043,578,000 |
|
| Less schools constructed: |
|
|
| - Lincoln Elementary |
$12,000,000 |
|
| - New Middle School |
$17,000,000 |
|
| Projected future costs |
$1,014,578,000 |
|
| Impact fees for District 202 |
$192,928,000 |
|
| NET |
$821,650,000 |
|
| Say |
$800,000,000 |
|
|
