(1) The individual assessment shall include, without limitation, the data sources and calculations used to derive the expected average persons per unit for the type of dwelling units proposed. The impact fee per dwelling unit shall be calculated according to the following formula:

Fee = persons per unit x net cost per person, where "persons per unit" is the average number of persons residing in occupied dwelling units of the proposed housing type, adjusted by the average occupancy rate for the proposed housing type. "Net cost per person" shall be as identified in the adopted Capital Facilities Plan.

(2) The Impact Fee Administrator shall determine the fee based on the review of the independent assessment and the guidelines and formula described in the preceding Section 8-3-102(2).