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(2) The park impact fees shall be calculated according to the following formula: <br /> PAR K IMPACT FEE = EDUs x NET COST/EDU <br />Where: <br />EDUs = UNITS xEDUs/UNIT <br /> Number of dwelling units of each housing type in the <br />UNITS = development <br />EDUs/iJNIT = Number of Equivalent Dwelling Units represented by one <br /> dwelling unit of a iven housin t e <br />NET COST/EDU = COST/EDU -CREDIT/EDU <br />COST/EDU = Total replacement cost of existing park facilities divided by total <br /> existing residential development in the County, expressed in terms <br /> of EDUs <br />CREDIT/EDU = DEBT/EDU + PAST/EDU + GRANT/EDU <br />DEBT/EDU = Outstanding debt on existing park facilities divided by total <br /> existin EDUs <br />PAST/EDU = The net present value of property taxes paid over the last five <br /> years by vacant land for park capacity improvements, including <br /> general fund expenditures as well as debt service payments, per <br /> EDU <br />GRANT/EDU = The net present value of future Federal and State grant funding <br /> antici ated to be forthcomin er EDU over the next 20 ears <br />-12- <br />