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TVTC Strategic Expenditure Plan 2022 Update │ Chapter 4: Revenue Forecasting Draft Final Report │ Adopted: April 29, 2022 7 increase to 7% of the maximum fee rate in funding year FY 23/34 with no additional increases, beyond the CCI, currently planned. It is also proposed that a lower increase be made for “other” land use category. “Other” land uses consist of developments that do not fall into the other five land use categories such as theaters, motel/hotels, day care facilities, and gas stations. Given the unique nature of these uses, it was recommended that the rate be to held at 12% of the maximum fee rate for the duration of the SEP. As noted, it was also recommended that the TVTDF rate continue to increase on an annual basis based on the annual CCI adjustment to reflect changes in regional construction costs. Similarly, to how the SEP has been implemented in the past, the CCI adjustment will not be applied for years when there is a prescribed rate increase. Essentially this means that the CCI adjustment would not be applied for any use in funding year FY 22/23 and also not to retail in funding year FY 23/24. Table 2: FY 2022/2023 Rate Adjustment Land Use Current 2021 Rate % of Maximum FY 2022/23 Rates Change from 2021 Rates % Change Single Family (DU) $5,057 15% $6,596.40 $1,539.40 30.4% Multi-Family (DU) $3,484 15% $3,889.20 $405.20 11.6% Retail (SF) $3.74 6% $5.07 $1.33 35.6% Office (SF) $8.59 15% $8.81 $0.22 2.5% Industrial (SF) $5.00 15% $4.97 -$0.03 -0.6% Other (avg AM/PM trips) $5,620 12% $6,100.68 $480.68 8.6% DU = Dwelling Units; SF = Square Feet Table 3: FY 2023/2024 Rate Adjustment Land Use Current 2021 Rate % of Maximum FY 2023/24 Rates Change from 2021 Rates % Change Single Family (DU) $5,057 15% $6,596.40* $1,539.40 30.4% Multi-Family (DU) $3,484 15% $3,889.20* $405.20 11.6% Retail (SF) $3.74 7% $5.92 $2.18 58.2% Office (SF) $8.59 15% $8.81* $0.22 2.5% Industrial (SF) $5.00 15% $4.97* -$0.03 -0.6% Other (avg AM/PM trips) $5,620 12% $6,100.68* $480.68 8.6% DU = Dwelling Units; SF = Square Feet *CCI adjustment will be applied ESTIMATION OF DEVELOPER FEE REVENUES The potential developer fee revenue was estimated based on development forecast and the rates shown in Table 2 and Table 3. Table 4 summarizes the estimated developer fee revenues between FY 22/23 and FY 31/32. Between FY 22/23 and FY 31/32, it is forecasted that there will be $128.88 million available to fund projects. As of June 30, 2016, there was a SEP fund balance of $17.00 million, resulting in a maximum estimate of $145.88 million being available for allocation to projects.