Appendix
Fixed Rate CAC Calculation - Site 26
November 9, 2021Page 2541 section
A technical worksheet and case study calculation for Community Amenity Contributions (CAC) for 'Site 26' as part of the City of Victoria Density Bonus Policy Study.
CAC per square foot: $2.75Estimated Rezoned Value: $2,889,356Base OCP density: 1.2 FSRPart of Attachment Page 75 of 75
CITY OF VICTORIA DENSITY BONUS POLICY STUDY
Fixed Rate CAC Calculation - Site 26
As shown in the following exhibit, this case study site supports an estimated CAC of about $3 per square foot of additional permitted floorspace over the base OCP density of 1.2 FSR.
| CAC Analysis | |
|---|---|
| Estimated Rezoned Value | $2,889,356 |
| Estimated Base Value ($50,000 per room) | $2,750,000 |
| Estimated Increase in Value for CAC Analysis | $139,356 |
| CAC at 75% of Increased Value | $104,517 |
| Floorspace at Base OCP Density | 56,976 |
| Assumed Floorspace Approved | 94,960 |
| Increase in Floorspace over Base Density | 37,984 |
| CAC per square foot of additional floorspace over base density | $2.75 |
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Extracted from: 2021 11 09 Committee of the Whole Agenda - Agenda - Pdf