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Finance report shows about $5.2 million in library impact fees; several projects partially funded
Summary
The finance presenter reported approximately $5.2 million in impact fees, with about $4.2 million in the old system and roughly $1,000,000 in the new system; roughly $800,000 has been identified for Pritchardville, Bluffton Phase 2, and Hilton Head each, leaving about $2.5 million in unidentified impact fee balance.
The finance presenter told the board that the library system’s total impact fee budget allotment stands at about $5.2 million.
"At the far bottom right hand corner, we are at 5,200,000, which is the total impact fee budget allotment that we have," the presenter said, and added that approximately $4.2 million is in the old system balance while just under $1,000,000 is in the new system.
The presenter said earmarks identified roughly $800,000 for each of three projects — Pritchardville, Bluffton Phase 2, and Hilton Head — and that about half the impact fee balance is already identified, leaving roughly $2.5 million in unidentified impact fee funds. The presenter suggested much of the remaining balance may go toward the future Christian Ville library project when it proceeds.
Board members asked when Bluffton Phase 2 would be completed and were told capital projects are ranked annually by a county committee and that submission in the county capital request process does not guarantee immediate approval.
