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DRAFT <br />(g) The park impact fees shall be calculated according to the following formula. <br />FEE=EDUs x NET COST/EDU <br />Where: <br />EDUs = UNITS X EDUs/UNIT <br />UNITS= Number of dwelling units of each housing type in the <br />development <br />EDUs/UNIT= Number of Equivalent Dwelling Units represented by one <br />dwelling unit of a given housing type <br />NET COST/EDU= COST/EDU - CREDIT/EDU <br />COST/EDU= Total replacement cost of existing park facilities divided by <br />total existing residential development in the county, <br />expressed in terms of EDUs <br />CREDIT/EDU= DEBT/EDU + PAST/EDU + GRANT/EDU <br />DEBT/EDU= Outstanding debt on existing park facilities divided by total <br />existing 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, <br />including general fund expenditures as well as debt service <br />payments, per EDU <br />GRANT/EDU= The net present value of future Federal and State grant <br />funding anticipated to be forthcoming per EDU over the next <br />20 years <br />Draft Hawaii County Impact Fee Ordinance Duncan Associates, September 15, 2006, p. 10 <br /> <br />