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Conrad Meade Subdivision 12/20/94 4. The cost_;of providing additional' elementaryschool facilities for enrollment growth is $9,997 per student or $5,49$'per,new,.home. Likewise,_ the cost of providing additional high school facilities .for enrollment growtli is $19,729 per student or $4,5. $9"Per new'home. Therefore, the total impact of new residential development on K-12 school facilities for the Districts is $10,036 per new home. 5. The maximum AB2926 developer fees are $1.72 per square foot for K-12 facilities. The District and the Galt Joint Union High School District share these fees. These fees offset only approximately 25% of the impact of new development. 6. The State School Construction Bond Program, which provides construction funds to qualifying school districts, is effectively bankrupt. In excess of $6 billion dollars in applications for new school facilities are pending funding and no moneys are available. Moreover, the State has indicated its intention .to shift the responsibility for capital funding back to the local level. No other capital revenue sources are available to finance new school facilities. 7. Therefore, the District will be adversely impacted by the approval of this Project unless adequate mitigation is provided by the developer. Out of necessity, the District requests that as a condition of approval, the developer be required to either annex the property to the existing Mello-Roos CFD, or enter into a mitigation agreement to pay full mitigation for the impacts caused prior to approval of a recorded map. The mitigation agreement would detail the amount of funds needed to fully mitigate the impacts, currently estimated to be $6.54 per square foot. Thank you for referring this project to the District and for your attention to this important matter. As always, if you require additional information, or have questions, please do not hesitate to call. Sincerely, Je ery T. Je gs, Ed.D. District Superintendent jjlih cc:file