Current Situation and Issues
|
|
- Pierce Young
- 5 years ago
- Views:
Transcription
1 Handout 13: Impervious and Gross Area Charges The purpose of this handout is to frame the issues around the gross and impervious parcel area based charges. Current Situation and Issues Current Structure The original CAC looked at a number of bases for charging for stormwater service provided by the Department. They reasoned that all properties contributed stormwater runoff that must be managed by PWD and concluded that gross parcel area (GA) was the best indicator of the base level of such runoff. They also reasoned that land use was a key factor driving stormwater runoff and concluded that impervious area (IA) was the best indicator of stormwater impact based upon the use of the land by the owner. In view of the foregoing, the CAC recommended both gross parcel area and impervious area be utilized (on a weighted basis) in the determination of stormwater fees. The 80:20 formulation in charges came about by considering the relative peak runoff from a natural area versus a paved one using a runoff method called the Rational Method. The Rational Method assigned a runoff factor in the range of 0.24 for grass and 0.95 for pavement. Translated, that means that pavement generates about four times the peak flow of grass and the 80% IA portion is therefore four times the 20% GA portion. This formulation was expressed in a slightly different way in the final CAC report and resulted in 20% of the total non customer program cost (20% of $111 million) being allocated to the gross area of the City and the other 80% of the non customer cost being allocated to the impervious area of the City each on a per 500 square foot, or part thereof basis. The GA Rate is derived by dividing the GA cost over the applicable gross area of the City resulting in a system wide GA Rate of $0.528 per 500 square feet of total parcel area. The IA Rate is similarly set at $4.169 per 500 square feet of parcel impervious area. The monthly billing and collection charge is set at $2.65. Some parcel owners have indicated that they experienced high GA charges for what seemed to be conservative use of open space. To recognize large parcel areas that may be contributing lower runoff either due to natural soil characteristics, ground cover, and/or due to onsite management PWD developed the Gross Area Credit, Option 1. This option reads as follows: the property owner must demonstrate a Natural Resource Conservation Service Curve Number (NRCS CN) of 86 or less for the entire area within the property boundaries. The Curve Number (CN) represents the runoff characteristics for a particular soil and ground cover. PWD will apply a 7% reduction from the GA Charge for every whole number below 87; a CN of 72 may yield a maximum of 100% GA Credit In simple terms, based on this NRCS CN approach, properties whose runoff behaves more like runoff from a lightly developed or undeveloped property, with soils that have moderate to high infiltration potential under the NRCS CN hydrologic modeling approach, are eligible for a credit (they can get below 87). However, properties with soils August 11, 2011 PWD CAC Handout 13 IAGA 5AUG11 V7.docx 1
2 that have poor infiltration potential cannot obtain significant GA credit no matter what actions property owners take to manage stormwater runoff. Under the current system there are 240 properties that have applied for and obtained some GA credit (partial or full credit). The total annual amount credited is $1.67 million. One concern is the revenue loss from any proposed GA credit option. For the purposes of calculating the potential revenue loss, residential properties have been omitted, since they are excluded from the credits program. The total potential revenue loss can be capped at the theoretical high end as the revenue from non residential GA that is not impervious, or about $7.4 million annually. However, a major portion of GA would not qualify for credit as good quality open space. A more realistic and reasonable estimate might be a revenue impact of $1 3 million annually. Issues with the Gross Area Charge The gross area component of the fee was intended to enhance the equity of the rate structure in a relatively simple way. However, in its application several issues have emerged that are problematic for some parcel owners and PWD and should be addressed, as discussed below. Issue #1 The charge seems unfairly high for some large properties and minimum charge for others For example, the property shown in Figure 1, was paying $0 under the meter size based fees. Under the parcelarea based system, this property s monthly gross area charge alone is $8, It has 8,126,500 square feet of gross area and 134,500 square feet of impervious area. It is clear from the figure that much of the parcel contributes little runoff above the natural state and that it preserves large tracts of natural forest. Hence, under the existing GA Charge approach, this property is unfairly impacted. Figure 1: Parcel Based Loser Due to Gross Area August 11, 2011 PWD CAC Handout 13 IAGA 5AUG11 V7.docx 2
3 Other very large properties that, for example, have turf grass coverage and a resulting runoff that is greatly different from forest cover, but happen to be located on fairly well draining soils can easily obtain 100% of the GA credit and pay only the minimum charge. Issue #2 The charge penalizes those with poor draining soils something they had no part in creating An aspect of the credit that has frustrated some applicants is that the NRCS CN credit methodology is greatly influenced by the permeability of a site s existing soils. The NRCS CN calculation requires two input variables, the land cover and the underlying soils on the site. Soils are classified according to their permeability into four groups: A through D, where the most permeable soils are classified as A. Some applicants have been unable to obtain credit because their underlying soils are not listed as permeable and even though they have good land cover for stormwater management (a highly forested parcel, for example), their pre existing soil type precludes them from getting a credit. This is made worse by the fact that urban soils are notoriously varied due to construction and compacting by human and vehicular traffic so that soils maps are often highly inaccurate. For example, a property with 40% impervious area on an A soil can obtain 100% of the GA credit, changing nothing. The maximum credit a B soil property can attain is 45%, C soil 7%, and D soil cannot attain any credit no matter how good its open space. Issue #3 The GA credit reflects an intrinsic characteristic of the parcel, yet parcel owners must apply for it Under Option 1 of the GA credit, the property s characteristics either make it eligible or not. It is a measurable and intrinsic part of the parcel. A common question from owners of these parcels is why doesn t PWD simply make my credit automatic? In other words, they do not understand why the rate structure itself does not account for the reduced impact their properties (in relation to other properties) already have upon stormwater management costs. The current approach seems counterintuitive to these customers. Issue #4 There is little incentive to make better use of open space One primary purpose of the GA credit was to incentivize better use of open space from a rainfall volume reduction perspective. This is increasingly true under the current PWD stormwater program where green controls and volume reduction are mandated. The GA charge does not distinguish between different types of open space. Yet from an annual volume of runoff basis, forest cover produces one tenth the volume of runoff as turf grass with disturbed soils underneath. Yet the GA credit barely distinguishes between the two types of cover when calculating the GA credit potential the factor is only about four percent lower for forest cover than for managed grass. The existing GA credit does not incentivize owners to retain/deploy effective soil cover. For example, in Figure 2 on the next page, 60% of the parcel comprises tree covered land. If the property were awarded a gross area credit for its forest covered area, there would be incentive to preserve it, or to plant it in the first place. It has 150,500 square feet of gross area and 19,500 square feet of impervious area and monthly charges for gross area and impervious area of $ and $162.59, respectively. Issue Summary To summarize, the issues that PWD wishes to address are: August 11, 2011 PWD CAC Handout 13 IAGA 5AUG11 V7.docx 3
4 1. Concerns over highly impacted large GA properties or, on the other hand, those large properties with turf grass who have obtained GA credit and pay no GA charge; 2. Perceived unfairness in the current GA credit approach that limits credit for properties with poor underlying soils 3. Perceived need for the rate structure or an automatic mechanism to account for GA with beneficial stormwater characteristics (such as forest); and 4. Concerns that greater incentives are appropriate to encourage better use of open space especially maintenance of tree cover. Figure 2: Parcel with Significant Unrecognized Tree Cover Options for Change Based on the issues identified above that PWD wishes to address through a change, we can define our objective as: Ensure a reasonable GA charge basis whose structure automatically recognizes basic differences in open space land use and also provides an incentive to improve land use from a runoff volume reduction perspective. August 11, 2011 PWD CAC Handout 13 IAGA 5AUG11 V7.docx 4
5 To address these issues, we have defined three possible options that are valid within the framework. If we think of these options as three knobs we can possibly turn, then one or a hybrid of these three options can offer a best alternative: 1. We can simply improve the credit approach so that underlying soils are not a component of it and different land uses are recognized. 2. We could use land use recognition processes to compute a new kind of GA charge that automatically differentiates trees and other land uses, granting a lower rate to tree covered areas. 3. We could change the 80:20 ratio to a lower cost allocation to GA to reduce the overall GA charge impact on a property. The consultant/staff team met in a brainstorming session and attempted to define several types of options for your consideration though you may think of other options too. Details of these options, along with advantages and disadvantages of each are described below. Figure 3 is a brief overview of how the three knobs can be considered against the four key issues PWD feels might need to be addressed. Figure 3: Brief Analysis of the Options Option 1: Change the GA Credit The simplest option of all would be to improve the current GA credit criteria, available under Option 1, so that instead of depending on soils and land cover, the credit would depend on land cover only. This would mean that parcels with open space and tree cover would be able to obtain a credit, despite soil condition. August 11, 2011 PWD CAC Handout 13 IAGA 5AUG11 V7.docx 5
6 Here s how it might work: Non impervious GA would be classified into major categories such as bare earth, turf, trees, and managed urban forest. These types of cover would be eligible for varying levels of credit with a true urban forest attaining the maximum available credit. Through this simplified credit, applicants would only have to demonstrate that their GA met certain thresholds (for example, a single tree on a lot or an ordinary curbed, grassed parking island may not meet criteria for credit). Advantages: This option requires only a small change in the credits regulations. Depending on the details and on a particular property s characteristics, this option may meet the concerns of highly impacted customers that are currently unable to obtain any credit despite their lower stormwater demand. The costs to initiate this option would be low at the beginning. The anticipated impact of this option on revenue and rates is relatively small. It would also address those properties that don t pay any GA charge (except the minimum charge). Disadvantages: This option will provide additional credit opportunities for only a small number of ratepayers. This option does not address ratepayers highly impacted by large GA charges and more broadly does not address the question of why is this credit not automatic? It would also be administratively burdensome to place all open space into the categories, and very hard for PWD to monitor. Option 2: Create an Automatic GA Credit for Good Open Space Under this option, PWD would create a credit similar to the credit envisioned in Option 1 above except it would be calculated automatically from remote sensing data. That is, non impervious GA land cover would be classified into buckets (likely trees/forest and non forest) and a credit would be automatically applied to trees/forest area meeting certain criteria (e.g. minimum size). The criteria would be designed so that only GA that is capable of reducing stormwater demand in a meaningful way would be automatically credited. Other parcels could apply for credit if they made significant credit worthy changes between database updates maybe every five years. The difference between options 1 and 2 is that the credit would be determined and applied automatically from land cover data obtained by PWD. Advantages: This option will provide the opportunity for recognition of tree cover versus turf cover and credit for many highly impacted ratepayers. This option does address large GA highly impacted ratepayers more broadly (assuming they have tree cover) and does address the question why is this not automatic? It would also address those credited properties now paying nothing though they have large turf areas. Disadvantages: This option requires a change to the credits policy, new data processing and data maintenance demands, and changes to PWD s billing database. This option would involve both ongoing costs for new land cover data and staff time to implement changes to stormwater accounts, update land cover data on an ongoing basis, respond to appeals and so forth. Initially it would change most persons stormwater bill potentially creating confusion and lots of PWD response time. The option could result in as much as a $3M automated decrease in revenue, which would have to be offset by a small increase in rates for non residential ratepayers. Option 3: Change the Ratio of Revenue recovered from GA versus IA Under this option, PWD would identify a scientifically defensible change in the ratio of revenue recovered from GA versus IA. The change would decrease the revenue recovered from GA, thus decreasing the GA rate and resultant GA fees. There is a good scientific basis for a change. As we discussed earlier, the current 80:20 ratio reflects a focus on peak runoff. In other words, the current ratio accounts for the relative contribution to peak demand for August 11, 2011 PWD CAC Handout 13 IAGA 5AUG11 V7.docx 6
7 stormwater infrastructure of impervious area versus gross area. Under commonly used runoff estimation models, non impervious gross area would be expected to generate about 20% of runoff from a site during the large storms that stormwater infrastructure is sized to handle. If the focus were instead shifted to impervious and gross area contributions to runoff volume, the ratio would shift further toward impervious area. The ratio would be more like 97% impervious area and 3% gross area. Impervious area generates the overwhelming majority of the volume of runoff from a site, since it absorbs practically no precipitation and produces runoff volume from most rainfall events. If the ratio took both peak and volume considerations into account, the ratio would be between 80:20 and 97:3. For analysis purposes, we have used the ratio 90:10. The implications of this change on our Dow Jones properties are discussed below. Advantages: This option will provide opportunity for rate relief for many highly impacted ratepayers. Disadvantages: This option requires a change to the rate structure, wholesale changes to all ratepayers bills and administrative costs to implement these changes in PWD s billing database and would require one time costs for changes. The change would result in a 13% increase in impervious area rates for all non residential ratepayers, though the GA rate would go down. Option 3 Implications The tables on the following pages below compares the rates at final parcel area based phase in for the Dow Jones properties (Table 1) and for all categories of ratepayers (Table 2). In Table 1, note the highlighted rows. These properties are highly impacted properties with large GA. While fees for highly impacted properties with a low percentage of IA (rows highlighted in green) decrease by 14%, fees for highly impacted properties with large GA and high percentage of IA (rows highlighted in orange) increase by an average of 5%. Looking at categories of rate payers (Table 2), no category changes its total fee by more than 5%. To calculate the change on an individual parcel, one would have to do the calculation using both sets of unit rates. An example is given below for the parcel in Figure 2. It has 150,500 square feet of gross area and 19,500 square feet of impervious area. The current unit charges are $4.169 per 500 square feet for IA and $0.528 per 500 square feet for GA. Under the 90:10 split the unit charges change to $4.729 per 500 square feet for IA and $0.256 per 500 square feet for GA. Impervious units = 19,500/500 = 39 Gross area units = 150,500/500 = 301 Current 80:20 split charge: $4.169*39 + $0.528*301 = $ $ = $321.52/mo or $3,858.24/yr New 90:10 split charge: $4.729*39 + $0.256*301 = $ $77.06 = $261.49/mo or $3,137.88/yr As can be seen under this option the GA charge is cut approximately in half all properties with no impervious area will see their rate so reduced. Figure 4 on the next page compares the charges under the current 80:20 split and a 90:10 split for a one acre parcel. In order to show how the impact of this option varies based on the parcel characteristics, the graph shows, from left to right, charges for an undeveloped parcel (0% impervious) all the way to a completely paved parcel (100% impervious). Note that because several changes (for example reallocation) are being considered, and this change could be adopted along with others, the actual effects of the split might vary from the depiction below. August 11, 2011 PWD CAC Handout 13 IAGA 5AUG11 V7.docx 7
8 CAC Meeting 6 Figure 4: 80:20 vs. 90:10 Charge for One Acre Parcel In CAC meeting 6 we will briefly discuss the current situation and the contents of this handout. We will then take the rest of the time to discuss potential options, weigh pros and cons, and to poll you about your preferences concerning this issue. August 11, 2011 PWD CAC Handout 13 IAGA 5AUG11 V7.docx 8
9 August 11, 2011 PWD CAC Handout 13 IAGA 5AUG11 V7.docx 9
10 August 11, 2011 PWD CAC Handout 13 IAGA 5AUG11 V7.docx 10
11 Notes: August 11, 2011 PWD CAC Handout 13 IAGA 5AUG11 V7.docx 11
The Financial Accounting Standards Board
V A L U A T I O N How the New Leases Standard May Impact Business Valuations By Judith H. O Dell, CPA, CVA The Financial Accounting Standards Board issued the 485 page Leases Standard (Topic 842) in February,
More informationCHAPTER 5 RULES, RATES AND CHARGES FOR THE STORMWATER UTILITY SERVICE 1
Change 8, April 1, 2008 19-47 CHAPTER 5 RULES, RATES AND CHARGES FOR THE STORMWATER UTILITY SERVICE 1 SECTION 19-501. Rules, rates, and charges adopted. 19-502. Findings. 19-503. Definitions. 19-504. Determination
More informationDRAFT REPORT. Boudreau Developments Ltd. Hole s Site - The Botanica: Fiscal Impact Analysis. December 18, 2012
Boudreau Developments Ltd. Hole s Site - The Botanica: Fiscal Impact Analysis DRAFT REPORT December 18, 2012 2220 Sun Life Place 10123-99 St. Edmonton, Alberta T5J 3H1 T 780.425.6741 F 780.426.3737 www.think-applications.com
More informationBefore the Minnesota Public Utilities Commission State of Minnesota. Docket No. E002/GR Exhibit (LMC-1) Property Taxes
Direct Testimony and Schedules Leanna M. Chapman Before the Minnesota Public Utilities Commission State of Minnesota In the Matter of the Application of Northern States Power Company for Authority to Increase
More informationHalifax Water Rate Pricing and Stormwater Management Programs. March 4 th, 2013
Halifax Water Rate Pricing and Stormwater Management Programs March 4 th, 2013 Real Property Association of Canada One University Avenue, Suite 1410 Toronto, Ontario Canada M5J 2P1 www.realpac.ca T: (416)
More informationCHARTER TOWNSHIP OF FENTON SEWER SYSTEM FINANCIAL OVERVIEW MARCH, 2018
CHARTER TOWNSHIP OF FENTON SEWER SYSTEM FINANCIAL OVERVIEW MARCH, 2018 Fenton Township continues to receive inquiries regarding the relatively high sewer use fees that Township residents have been paying
More informationPanama City Beach Fire Service Assessment Information
Panama City Beach Fire Service Assessment Information On November 9, 2017, the City of Panama City Beach scheduled a public hearing for January 11, 2018 to consider the adoption of a special assessment
More informationAnalysing lessee financial statements and Non-GAAP performance measures
February 2019 IFRS Foundation The Essentials Issue No. 5 Analysing lessee financial statements and Non-GAAP performance measures Introduction Investors and company managers generally view free cash flow
More informationModel Zoning and County Benchmark
INTRODUCTION This report consists of a series of report cards for the municipalities covered by the Westchester Fair and Affordable Housing Settlement. Each report card assesses the municipality on the
More informationChapter 12 Changes Since This is just a brief and cursory comparison. More analysis will be done at a later date.
Chapter 12 Changes Since 1986 This approach to Fiscal Analysis was first done in 1986 for the City of Anoka. It was the first of its kind and was recognized by the National Science Foundation (NSF). Geographic
More informationThe joint leases project change is coming
No. 2010-4 18 June 2010 Technical Line Technical guidance on standards and practice issues The joint leases project change is coming What you need to know The proposed changes to the accounting for leases
More informationHousing as an Investment Greater Toronto Area
Housing as an Investment Greater Toronto Area Completed by: Will Dunning Inc. For: Trinity Diversified North America Limited February 2009 Housing as an Investment Greater Toronto Area Overview We are
More informationCOMPARISON OF THE LONG-TERM COST OF SHELTER ALLOWANCES AND NON-PROFIT HOUSING
COMPARISON OF THE LONG-TERM COST OF SHELTER ALLOWANCES AND NON-PROFIT HOUSING Prepared for The Fair Rental Policy Organization of Ontario By Clayton Research Associates Limited October, 1993 EXECUTIVE
More informationTechnical Line SEC staff guidance
No. 2013-20 Updated 27 August 2015 Technical Line SEC staff guidance How to apply S-X Rule 3-14 to real estate acquisitions In this issue: Overview... 1 Applicability of Rule 3-14... 2 Measuring significance...
More informationYOUR DC WATER BILL WHAT CHANGES CAN YOU EXPECT? AOBA UTILITY COMMITTEE
YOUR DC WATER BILL WHAT CHANGES CAN YOU EXPECT? AOBA UTILITY COMMITTEE March 17, 2016 Kirsten M. Bowden, Esq. Vice President of Government Affairs, DC Apartment and Office Building Association of Metropolitan
More informationThe Local Government Fiscal Impacts of Land Uses in Union County:
The Local Government Fiscal Impacts of Land Uses in Union County: Revenue and Expenditure Streams by Land Use Category Jeffrey H. Dorfman and Bethany Lavigno Department of Agricultural & Applied Economics
More informationThe Impact of Market Rate Vacancy Increases Eleven-Year Report
The Impact of Market Rate Vacancy Increases Eleven-Year Report January 1, 1999 - December 31, 2009 Santa Monica Rent Control Board April 2010 TABLE OF CONTENTS Summary 1 Vacancy Decontrol s Effects on
More informationLeaseCalcs: The Great Wall
LeaseCalcs: The Great Wall Marc A. Maiona June 22, 2016 The Great Wall: Companies reporting under IFRS are about to hit the wall due to new lease accounting standards. Every company that reports under
More information2018 Accounting & Auditing Update P R E S E N T E D B Y : D A N I E L L E Z I M M E R M A N & A N D R E A S A R T I N
2018 Accounting & Auditing Update P R E S E N T E D B Y : D A N I E L L E Z I M M E R M A N & A N D R E A S A R T I N AGENDA Leases FASB & GASB Revenue Recognition FASB 2 FASB ASU 2016-02, Leases (Topic
More informationInd AS 115 Impact on the real estate sector and construction companies
01 Ind AS 115 Impact on the real estate sector and construction companies This article aims to: Highlight key areas of impact of Ind AS 115 on the real estate sector and construction companies. Summary
More informationTASK 2 INITIAL REVIEW AND ANALYSIS U.S. 301/GALL BOULEVARD CORRIDOR FORM-BASED CODE
TASK 2 INITIAL REVIEW AND ANALYSIS U.S. 301/GALL BOULEVARD CORRIDOR FORM-BASED CODE INTRODUCTION Using the framework established by the U.S. 301/Gall Boulevard Corridor Regulating Plan (Regulating Plan),
More informationVolume 35, Issue 1. Hedonic prices, capitalization rate and real estate appraisal
Volume 35, Issue 1 Hedonic prices, capitalization rate and real estate appraisal Gaetano Lisi epartment of Economics and Law, University of assino and Southern Lazio Abstract Studies on real estate economics
More informationGENERAL ASSESSMENT DEFINITIONS
21st Century Appraisals, Inc. GENERAL ASSESSMENT DEFINITIONS Ad Valorem tax. A tax levied in proportion to the value of the thing(s) being taxed. Exclusive of exemptions, use-value assessment laws, and
More informationMEMORANDUM ADDENDUM. Dan Moye, Economic Development Corporation of Kansas City, Missouri
MEMORANDUM ADDENDUM TO: FROM: Dan Moye, Economic Development Corporation of Kansas City, Missouri Fran Lefor Rood, SB Friedman Development Advisors Direct: (312) 424-4253; Email: frood@sbfriedman.com DATE:
More informationChange 6, September 1, TITLE 18 WATER AND SEWERS 1
Change 6, September 1, 2011 18-1 TITLE 18 WATER AND SEWERS 1 CHAPTER 1. MISCELLANEOUS. 2. CITY WASTEWATER SYSTEM. 3. WASTEWATER TREATMENT (SEWER) SYSTEM. 4. WATER. 5. CONNECTIONS WITH PUBLIC WATER SUPPLY.
More informationImplementation Tools for Local Government
Information Note #5: Implementation Tools for Local Government This Information Note is a guide only. It is not a substitute for the federal Fisheries Act, the provincial Riparian Areas Regulation, or
More informationCity of Bellingham Urban Growth Area - Land Supply Analysis Summary
City of Bellingham Urban Growth Area - Land Supply Analysis Summary Population & Employment Growth Forecasts APPENDIX D, ATTACHMENT 3 The ECONorthwest Whatcom County Population & Economic Forecasts report
More informationYOUR DC WATER BILL WHAT CHANGES CAN YOU EXPECT? AOBA UTILITY COMMITTEE
YOUR DC WATER BILL WHAT CHANGES CAN YOU EXPECT? AOBA UTILITY COMMITTEE February 15, 2017 Nicola Y. Whiteman, Esq. Senior Vice President of Government Affairs Apartment and Office Building Association of
More informationMONITORDAILY SPECIAL REPORT. Lease Accounting Project Update as of May 25, 2011 Prepared by Bill Bosco, Leasing 101
MONITORDAILY SPECIAL REPORT Lease Accounting Project Update as of May 25, 2011 Prepared by Bill Bosco, Leasing 101 The high volume of comment letters (780+) and numerous outreach meetings had common criticisms
More informationDecember 15, Financial Accounting Standards Board 401 Merritt 7 PO Box 5116 Norwalk, CT
December 15, 2010 Financial Accounting Standards Board 401 Merritt 7 PO Box 5116 Norwalk, CT 06856-5116 International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom Request
More informationRefurbishment of. Apartments how do you calculate? Refurbishment costs and life expectancy. Refurbishment Costs. Life expectancy
Refurbishment of Apartments how do you calculate? Alexander Krüger, 2009-04-14 To calculate a refurbishment of an apartment sounds pretty simple you have costs and the advantage of increase in rental income.
More informationThe History and Science behind the Legal Defense Reserves Calculator
The History and Science behind the Legal Defense Reserves Calculator The Land Trust Alliance s Legal Defense Reserves Calculator is the latest in a series of efforts over the last ten years to help land
More informationPrepared For: Pennsylvania Utility Law Project (PULP) Harry Geller, Executive Director Harrisburg, Pennsylvania
THE CONTRIBUTION OF UTILITY BILLS TO THE UNAFFORDABILITY OF LOW-INCOME RENTAL HOUSING IN PENNSYLVANIA June 2009 Prepared For: Pennsylvania Utility Law Project (PULP) Harry Geller, Executive Director Harrisburg,
More informationChapter 1 Economics of Net Leases and Sale-Leasebacks
Chapter 1 Economics of Net Leases and Sale-Leasebacks 1:1 What Is a Net Lease? 1:2 Types of Net Leases 1:2.1 Bond Lease 1:2.2 Absolute Net Lease 1:2.3 Triple Net Lease 1:2.4 Double Net Lease 1:2.5 The
More informationON THE HAZARDS OF INFERRING HOUSING PRICE TRENDS USING MEAN/MEDIAN PRICES
ON THE HAZARDS OF INFERRING HOUSING PRICE TRENDS USING MEAN/MEDIAN PRICES Chee W. Chow, Charles W. Lamden School of Accountancy, San Diego State University, 5500 Campanile Drive, San Diego, CA 92182, chow@mail.sdsu.edu
More informationEconomic Impact of Commercial Multi-Unit Residential Property Transactions in Toronto, Calgary and Vancouver,
Economic Impact of Commercial Multi-Unit Residential Property Transactions in Toronto, Calgary and Vancouver, 2006-2008 SEPTEMBER 2009 Economic Impact of Commercial Multi-Unit Residential Property Transactions
More informationGASB 69: Government Combinations
GASB 69: Government Combinations Table of Contents EXECUTIVE SUMMARY... 3 BACKGROUND... 3 KEY PROVISIONS... 3 OVERVIEW & SCOPE... 3 MERGER & TRANSFER OF OPERATIONS... 4 Mergers... 4 Transfers of Operations...
More informationAn Assessment of Recent Increases of House Prices in Austria through the Lens of Fundamentals
An Assessment of Recent Increases of House Prices in Austria 1 Introduction Martin Schneider Oesterreichische Nationalbank The housing sector is one of the most important sectors of an economy. Since residential
More informationCITY OF COLD SPRING ORDINANCE NO. 304
CITY OF COLD SPRING ORDINANCE NO. 304 AN ORDINANCE AMENDING THE CITY CODE OF COLD SPRING BY ADDING SECTIONS 555 AND 510 PERTAINING TO PAYMENT-IN-LIEU-OF-PARKING THE CITY COUNCIL OF THE CITY OF COLD SPRING,
More informationManaging and Funding Local Government Stormwater Enterprises: Fee Options and Calculation Procedures. S. Wayne Miles, PE, DEE
Managing and Funding Local Government Stormwater Enterprises: Fee Options and Calculation Procedures S. Wayne Miles, PE, DEE Course sponsored by the UNC School of Government Environmental Finance Center
More informationReal Estate & REIT Modeling: Quiz Questions Module 1 Accounting, Overview & Key Metrics
Real Estate & REIT Modeling: Quiz Questions Module 1 Accounting, Overview & Key Metrics 1. How are REITs different from normal companies? a. Unlike normal companies, REITs are not required to pay income
More informationApplying IFRS. Impairment considerations for the new leasing standard. November 2018
Applying IFRS Impairment considerations for the new leasing standard November 2018 Contents Overview 3 1. Impairment of right-of-use assets 1.1 When to test for impairment 1.2 Treatment of lease liabilities
More informationPreview of the New Exposure Draft of the Lease Accounting Project Key elements and commentary
Preview of the New Exposure Draft of the Lease Accounting Project Key elements and commentary Prepared by Bill Bosco, Leasing 101 www.leasing-101.com The Financial Accounting Standards Board (FASB) and
More informationCity of Regina Underutilized Land Study External Stakeholder Report
City of Regina Underutilized Land Study External Stakeholder Report March 2018 Developed by: Introduction The City of Regina has undertaken an Underutilized Land Study. This study investigated potential
More informationStatus of HUD-Insured (or Held) Multifamily Rental Housing in Final Report. Executive Summary. Contract: HC-5964 Task Order #7
Status of HUD-Insured (or Held) Multifamily Rental Housing in 1995 Final Report Executive Summary Cambridge, MA Lexington, MA Hadley, MA Bethesda, MD Washington, DC Chicago, IL Cairo, Egypt Johannesburg,
More informationFulfilment of the contract depends on the use of an identified asset; and
ANNEXE ANSWERS TO SPECIFIC QUESTIONS Question 1: identifying a lease This revised Exposure Draft defines a lease as a contract that conveys the right to use an asset (the underlying asset) for a period
More informationThese notes will be appropriate both for both students who have chosen financial reporting as a depth area as well as those who have not.
When it comes to the Financial Reporting competency, the challenge that many students face is the tremendous amount of technical knowledge included in this competency, especially in light of the fact that
More informationAssessment Year 2016 Assessment Valuations / Mass Appraisal Summary Report
Assessment Year 2016 Assessment Valuations / Mass Appraisal Summary Report Overview Following up on last year s work, additional work was done cleaning up the sales data. The land valuation model was further
More informationInitial sales ratio to determine the current overall level of value. Number of sales vacant and improved, by neighborhood.
Introduction The International Association of Assessing Officers (IAAO) defines the market approach: In its broadest use, it might denote any valuation procedure intended to produce an estimate of market
More informationFrequently Asked Questions for: Drainage, Watershed and Water Quality Property Owners Near Creeks Developers and Engineers and Definitions of Terms
FREQUENTLY ASKED QUESTIONS Draft DEFINITIONS OF TERMS Last Revised July 2, 2008 Introduction: The following questions have been organized in the categories below. We have attempted to group the questions
More informationLease Accounting - New Changes in US, International and Government Accounting Standards
Lease Accounting - New Changes in US, International and Government Accounting Standards Roberta J. Cable, Ph.D., CMA Patricia Healy, CPA, CMA Lubin School of Business Administration, Pace University, USA
More informationCook County Assessor s Office: 2019 North Triad Assessment. Norwood Park Residential Assessment Narrative March 11, 2019
Cook County Assessor s Office: 2019 North Triad Assessment Norwood Park Residential Assessment Narrative March 11, 2019 1 Norwood Park Residential Properties Executive Summary This is the current CCAO
More informationSeptember 13, Steven D. Johnson
September 13, 2018 Steven D. Johnson Farm & Ag Business Management Specialist (515) 957-5790 sdjohns@iastate.edu www.extension.iastate.edu/polk/farm-management Learning Objectives Highlight Tiling Costs
More informationWASTEWATER SERVICE CHARGES EFFECTIVE FOR ALL BILLS ISSUED ON AND AFTER AUGUST 1, 2005
Louisville and Jefferson County Metropolitan Sewer District WASTEWATER SERVICE CHARGES EFFECTIVE FOR ALL BILLS ISSUED ON AND AFTER AUGUST 1, 2005 A. WASTEWATER SERVICE CHARGES Applicable to all bills rendered.
More informationWASTEWATER SERVICE CHARGES EFFECTIVE FOR ALL BILLS ISSUED ON AND AFTER AUGUST 1, 2003
Louisville and Jefferson County Metropolitan Sewer District WASTEWATER SERVICE CHARGES EFFECTIVE FOR ALL BILLS ISSUED ON AND AFTER AUGUST 1, 2003 A. WASTEWATER SERVICE CHARGES Applicable to all bills rendered.
More informationCHAPTER 2 VACANT AND REDEVELOPABLE LAND INVENTORY
CHAPTER 2 VACANT AND REDEVELOPABLE LAND INVENTORY CHAPTER 2: VACANT AND REDEVELOPABLE LAND INVENTORY INTRODUCTION One of the initial tasks of the Regional Land Use Study was to evaluate whether there is
More informationEconomic Analysis of Stormwater Fee Changes on Philadelphia Businesses
Economic Analysis of Stormwater Fee Changes on Philadelphia Businesses Report Submitted To: Philadelphia Water Department 1101 Market Street, Suite 500 Philadelphia PA 19107 Report Submitted By: Econsult
More informationProcedures Used to Calculate Property Taxes for Agricultural Land in Mississippi
No. 1350 Information Sheet June 2018 Procedures Used to Calculate Property Taxes for Agricultural Land in Mississippi Stan R. Spurlock, Ian A. Munn, and James E. Henderson INTRODUCTION Agricultural land
More informationUnderstanding the Cost to Provide Community Services in the Town of Holland, La Crosse County, Wisconsin
Understanding the Cost to Provide Community Services in the Town of Holland, La Crosse County, Wisconsin Rebecca Roberts Land Use Specialist Center for Land Use Education and Karl Green Community Development
More informationProject Economics: The Value of Leasing. Russell Banham, Savills
ICSC European Retail Property School Project Economics: The Value of Leasing Russell Banham, Savills (Investment, Development & Asset Management) Introduction Who I am Russell Banham Over 30 years of experience
More informationViability and the Planning System: The Relationship between Economic Viability Testing, Land Values and Affordable Housing in London
Viability and the Planning System: The Relationship between Economic Viability Testing, Land Values and Affordable Housing in London Executive Summary & Key Findings A changed planning environment in which
More informationAppendix J: Stormwater Utility Ordinance Guidance
Appendix J: Stormwater Utility Ordinance Guidance 1. City of Marquette (MI) Stormwater Utility Ordinance 2. Guidance on Establishing Stormwater Utility Fees 169 City of Marquette (MI) Stormwater Utility
More informationCorporate Services Planning and Economic Development. Memorandum
Corporate Services Planning and Economic Development Memorandum TO: FROM: Committee of the Whole Paul Freeman, Chief Planner DATE: June 21, 2018 RE: York Region C omments on Draft Provinci al Guidance
More informationCost Segregation Instructor Teaching Schedule (3-Hour)
Time Topic Pages Student Objectives 8:30-8:35 Course introduction Page 2 What is cost segregation? Objective of cost segregation: to increase cash flow Benefit of cost segregation Learning objectives Page
More informationORDINANCE NO WHEREAS, the County Council desires to amend the current Code of
1 1 1 1 1 1 0 1 0 1 ORDINANCE NO. 00- AN ORDINANCE OF THE COUNTY COUNCIL OF VOLUSIA COUNTY, FLORIDA, AMENDING THE CODE OF ORDINANCES OF THE COUNTY OF VOLUSIA, CHAPTER, TITLED UTILITIES, ARTICLE IV, STORMWATER
More informationGrand Rapids, MN Stormwater Utility Best Management Practices Credit Policy (As per Section (b) of Ordinance No )
Grand Rapids, MN Stormwater Utility Best Management Practices Credit Policy (As per Section 70-203(b) of Ordinance No. 17-05-03) Background On May 8, 2017, the Grand Rapids City Council approved a Stormwater
More informationASSESSORS ANSWER FREQUENTLY ASKED QUESTIONS ABOUT REAL PROPERTY Assessors Office, 37 Main Street
A. THE ASSESSMENT PROCESS: ASSESSORS ANSWER FREQUENTLY ASKED QUESTIONS ABOUT REAL PROPERTY Assessors Office, 37 Main Street What is mass appraisal? Assessors must value all real and personal property in
More informationAgreements for the Construction of Real Estate
HK(IFRIC)-Int 15 Revised August 2010September 2018 Effective for annual periods beginning on or after 1 January 2009* HK(IFRIC) Interpretation 15 Agreements for the Construction of Real Estate * HK(IFRIC)-Int
More informationREAL ESTATE PERSPECTIVE ON NEW LEASE ACCOUNTING STANDARDS
VALUATION & ADVISORY REAL ESTATE PERSPECTIVE ON NEW LEASE ACCOUNTING STANDARDS BY JOHN CORBETT, MAI, ASA, FRICS AND MARC R. SHAPIRO, MAI, MRICS INTRODUCTION The Financial Accounting Standards Board (FASB)
More informationMETROPOLITAN NORTH GEORGIA WATER PLANNING DISTRICT CONSERVATION PRICING GUIDANCE JANUARY 2014
INTRODUCTION METROPOLITAN NORTH GEORGIA WATER PLANNING DISTRICT CONSERVATION PRICING GUIDANCE JANUARY 2014 All water systems in the Metropolitan North Georgia Water Planning District (Metro Water District)
More informationCapitol Park IV Condominium Association, Inc. 741 Delaware Avenue SW Washington DC 20024
October 20, 2014 Capitol Park IV Condominium Association, Inc. 741 Delaware Avenue SW Washington DC 20024 VIA U.S. MAIL AND EMAIL District of Columbia Water and Sewer Authority Customer Service Department
More informationApplying IFRS. A closer look at the new leases standard. August 2016
Applying IFRS A closer look at the new leases standard August 2016 Contents Overview 3 1. Scope and scope exceptions 5 1.1 General 5 1.2 Determining whether an arrangement contains a lease 6 1.3 Identifying
More informationChesapeake Bay Preservation Area (CBPA) Map Update. Presentation to the County Board July 15, 2017
Chesapeake Bay Preservation Area (CBPA) Map Update Presentation to the County Board July 15, 2017 Chesapeake Bay Program Comprehensive Plan Chesapeake Bay Preservation Ordinance (1992) (Chapter 61, Arlington
More informationShipping insights briefing
TRANSPORT Shipping insights briefing A view of the future: 2017 bigger balance sheets! kpmg.com Nearly two and a half years ago we issued a Shipping Insights Briefing, highlighting proposed changes to
More informationFASB s 2013 Proposal on Accounting for Leases
FASB s 2013 Proposal on Accounting for Leases Frequently Asked Questions September 2013 The project on lease accounting is a joint project of the FASB and the International Accounting Standards Board.
More informationREAL ESTATE INVESTMENTS
REAL ESTATE INVESTMENTS PROBLEM SET 2 1. PROBLEM The leases for space in an office building provide for limitations or stops on the lessor s liability for real estate taxes and operating expenses. Each
More informationDeloitte & Touche LLP
695 East Main Street Stamford, CT 06901-2141 Tel: + 1 203 708 4000 Fax: + 1 203 708 4797 www.deloitte.com Ms. Susan M. Cosper Technical Director Financial Accounting Standards Board 401 Merritt 7 P.O.
More informationEN Official Journal of the European Union L 320/373
29.11.2008 EN Official Journal of the European Union L 320/373 INTERNATIONAL FINANCIAL REPORTING STANDARD 3 Business combinations OBJECTIVE 1 The objective of this IFRS is to specify the financial reporting
More informationFrom Policy to Reality
From Policy to Reality Updated ^ Model Ordinances for Sustainable Development 2000 Environmental Quality Board 2008 Minnesota Pollution Control Agency Funded by a Minnesota Pollution Control Agency Sustainable
More informationEconomic Impacts of MLS Home Sales and Purchases In The province of Québec and The Greater Montréal Area
Home Sales and Purchases In The province of Québec and The Greater Montréal Area Home Sales and Purchases In The Province of Québec and The Greater Montréal Area Prepared for: The Greater Montréal Real
More informationIFRS industry insights
IFRS Global Office September 2011 IFRS industry insights The Leases Project An update for the consumer business industry The tentative decision to limit the extent to which variable payments are estimated
More informationYOUR DC WATER BILL WHAT S NEW? WHAT CHANGES CAN YOU EXPECT IN THE FUTURE? AOBA UTILITY COMMITTE. June 27, By:
YOUR DC WATER BILL WHAT S NEW? WHAT CHANGES CAN YOU EXPECT IN THE FUTURE? AOBA UTILITY COMMITTE June 27, 2013 By: Nicola Y. Whiteman, Esq. Vice President of Government Affairs, DC Apartment and Office
More informationCity of Puyallup. Parks Impact Fee Study
City of Puyallup Parks Impact Fee Study August 23, 2005 Prepared by Financial Consulting Solutions Group, Inc. 8201 164 th Avenue NE, Suite 300 Redmond, WA 98052 tel: (425) 867-1802 fax: (425) 867-1937
More informationTRANSFER OF DEVELOPMENT RIGHTS
STEPS IN ESTABLISHING A TDR PROGRAM Adopting TDR legislation is but one small piece of the effort required to put an effective TDR program in place. The success of a TDR program depends ultimately on the
More informationTaxes and Land Preservation Computing the Capital Gains Tax
Fact Sheet 780 Taxes and Land Preservation Computing the Capital Gains Tax Many farmers have their wealth tied up in their land and would like to convert some of this land value into cash. Others want
More informationAn overview of the real estate market the Fisher-DiPasquale-Wheaton model
An overview of the real estate market the Fisher-DiPasquale-Wheaton model 13 January 2011 1 Real Estate Market What is real estate? How big is the real estate sector? How does the market for the use of
More informationInvestit Software Inc. Investor Pro
Investor Pro Table of Contents Investor Pro...3 Introduction...3 The fastest way to learn Investor Pro...4 Selecting a Template. Which Template should I use?...6 Setting and changing the Starting Date
More informationASC 842 (Leases)
ASC 842 (Leases) On February 25, 2016 the Financial Accounting Standards Board of the United States (FASB) issued substantial new guidance on the treatment of leases for both lessees and lessors. The FASB
More informationLease Accounting: Gather your data now and understand tax implications. Tuesday, December 5, 2017
Lease Accounting: Gather your data now and understand tax implications Tuesday, December 5, 2017 Presenters Chris Stephenson Principal, Business Consulting & Technology chris.stephenson@us.gt.com Rebekah
More informationAffordable Housing Bonus Program. Public Questions and Answers - #2. January 26, 2016
Affordable Housing Bonus Program Public Questions and Answers - #2 January 26, 2016 The following questions about the Affordable Housing Bonus Program were submitted by the public to the Planning Department
More informationPUBLIC SERVICE COMMISSION OF MARYLAND
PUBLIC SERVICE COMMISSION OF MARYLAND Report on Options for Expanding the Electric Universal Service Program to Include Assistance to Low-Income Residential Tenants of Apartments and Condominium Owners
More informationSTATE OF OHIO FINANCIAL REPORTING APPROACH GASB 34 IMPLEMENTATION ISSUES TRANSPORTATION INFRASTRUCTURE
TRANSPORTATION INFRASTRUCTURE GASB 34 Reporting Requirements (Paragraphs 19 through 26) Paragraph 19 includes infrastructure assets in the definition of capital assets. Infrastructure assets are defined
More informationComparative Study on Affordable Housing Policies of Six Major Chinese Cities. Xiang Cai
Comparative Study on Affordable Housing Policies of Six Major Chinese Cities Xiang Cai 1 Affordable Housing Policies of China's Six Major Chinese Cities Abstract: Affordable housing aims at providing low
More informationResponse to the IASB Exposure Draft Leases
Response to the IASB Exposure Draft Leases 13 September 2013 CA House 21 Haymarket Yards Edinburgh EH12 5BH enquiries@icas.org.uk +44 (0)131 347 0100 icas.org.uk Direct: +44 (0)131 347 0252 Email: ahutchinson@icas.org.uk
More informationComprehensive Plan /24/01
IV The is a central component of the Comprehensive Plan. It is an extension of the general goals and policies of the community, as well as a reflection of previous development decisions and the physical
More informationDrainage Impact Fee AB 1600 Nexus Study Update to the Thermalito Master Drainage Plan
Prepared for The City of Oroville and Butte County Prepared by Keyser Marston Associates, Inc. May 2010 I. INTRODUCTION This Nexus Study presents the maximum development impact fees related to the Update
More informationMAAO Sales Ratio Committee 2013 Fall Conference Seminar
MAAO Sales Ratio Committee 2013 Fall Conference Seminar Presented By: Al Whitcomb Dakota County (Retired) John Keefe Chisago County Assessor Brent Reid City of Coon Rapids Michael Thompson Scott County
More informationTeresa Gordon s Recommended Alternative to Accounting for Leases
Teresa Gordon s Recommended Alternative to Accounting for Leases Key features: Leases with title transfer and bargain purchase options would not be excluded from the scope. Leases with title transfer or
More informationFOCUS FRS 116 GETTING READY FOR FRS 116 (LEASES) ARE COMPANIES PREPARED FOR THE NEW STANDARD?
FOCUS FRS 116 GETTING READY FOR FRS 116 (LEASES) BY RESEARCH DEPARTMENT, ISCA ARE COMPANIES PREPARED FOR THE NEW STANDARD? Ahead of the new Singapore leases standard FRS 116: Leases, which comes into effect
More informationSettlement Pattern & Form with service costs analysis Preliminary Report
Settlement Pattern & Form with service costs analysis Preliminary Report Prepared for Regional Planning Halifax Regional Municipality by Financial Services, HRM May 15, 2004 TABLE OF CONTENTS INTRODUCTION...
More information