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(2) The park impact fees shall be calculated according to the following formula: <br />PARK IMPAC'I" FEE = EDUs x NET COST/EDU <br />Where: <br />EDUs <br />= <br />UNITS x EDUs/UNIT <br />Number of dwelling units of each housing type in the <br />UNITS <br />_ <br />development <br />EDUs1UNIT <br />-- <br />Number of Equivalent Dwelling Units represented by one <br />dwelling unit of a given housing type <br />NET COST /EDU <br />= <br />COSTIEDU -- CREDITIEDU <br />COSPEDU <br />= <br />Total replacement cost of existing park facilities divided by total <br />existing residential development in the County, expressed in terms <br />of EDUs <br />CREDITIEDU <br />= <br />DEBT/EDU + PAST/EDU + GRANT/EDU <br />DEBT/EDU <br />— <br />outstanding debt on existing park facilities divided by total <br />existing EDUs <br />PAST/EDU <br />= <br />The net present value of property taxes paid over the last five <br />years by vacant land for part{ capacity improvements, including <br />general fund expenditures as well as debt service payments, per <br />EDU <br />GRANT/EDU <br />= <br />The net present value of future Federal and State grant funding <br />anticipated to be forthcoming per EDU over the next Zo years <br />-12- <br />