1987-19 - Laserfiche WebLink

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ORDINANCE NO. 87- 19 The local sources of revenue available to fund the transportation capital improvements program include the Constitutional Gas Tax, the Local Option Gas Tax, Traffic Impact Fees, and other money which could be allocated from local taxes. In addition, state funds and federal funds allocated by the state may be available for some of the road improvements. Constitutional Gas Tax The Constitutional Gas Tax i motor fuels. Eighty percent returned to the Counties to County has projected that approximately $18 million capital improvements program* Local Option Gas Tax of this two -cent per gallon tax is fund local road improvements. The this revenue source will generate over the twenty-year life of the The state legislature has provided for local governments to impose a local gas tax of up to six cents per gallon. In 1986, the Board of County Commissioners increased the County's local option gas tax from two -cents. per gallon to six -cents per gallon. The revenue from this tax is allocated among the County and the five municipalities based on each jurisdictions percentage of total county population. These percentages are as follows: County Unincorporated Area City of Vero Beach City of Sebastian Town of Indian River Shores City of Fellsmere Town of Orchid The six -cent local option gas $60,003,000 over the twenty-year program. The County's share approximately $401500,000. Traffic Impact Fees 67.56% 19.42% 9.90% 1.140 1.960 .02% tax is projected to generate life of the, capital improvements of this money (67.56%) equals In January of 1986, the Board of County Commissioners adopted the Fair Share Roadway Improvements Ordinance which established a traffic impact fee for all new development in the County which will generate additional traffic. The fees collected are earmarked for use in funding the County's transportation capital improvements program for upgrading the major streets and highways in the County. It is projected that traffic impact fees will generate approximately $2,000,000 a year or $40,000,000 over the twenty-year life of the capital improvements program. Other revenue sources available to fund the transportation capital improvements program include local taxes, special assessments of property owners abutting roads designated for secondary improvements, state and federal funds. Secondary improvements make up $56,413,000 of the capital improvements program. An additional source of funding for these improvements is assessing fifty percent of the cost of these improvements to abutting property owners who would derive a direct benefit from these road improvements. Such anassessment would generate $28,000,000 in additional revenue.