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Comprehensive Plan Capital Improvements Element <br />• Special Assessments <br />Special assessments are compulsory <br />payments levied on real property for specific <br />benefits generated by public investments or <br />services; the assessment levied must fairly <br />reflect the actual costs of the improvements <br />County revenues which fall under the general <br />category of special assessments consist of <br />street paving assessments, street lighting <br />district assessments, as well as assessments <br />for water, sewer, and drainage improvements. <br />Expenditures of special assessment revenue <br />are restricted to public improvement projects <br />that directly benefit the property owner or <br />payee. For example, street paving assessment <br />revenues must be spent on paving streets that <br />directly benefit the payer of the assessment. <br />Special Assessment funds represented 0.17% <br />of county funds for FY 2003/04 as shown in <br />table 6.1. Figure 6.4 displays the revenue <br />collected by Indian River County through <br />special assessments over the last six fiscal <br />years. <br />• <br />Impact Fees <br />An impact fee is any charge, fee, or <br />assessment levied as a condition of issuance <br />of subdivision or site plan approval, issuance <br />of a building permit, approval of a certificate <br />of occupancy, or other development or <br />construction approval when any portion of <br />the revenues collected is intended to fund <br />any portion of the costs of capital <br />improvements for any public facilities. <br />Figure 6.4: Special Assessments Revenue <br />$400 <br />$350 <br />$300 <br />$250 <br />$200 <br />$150 <br />$100 <br />$50 <br />$- <br />1999 2000 2001 2002 2003 2004 <br />Revenue On thousands) <br />Source: Indian River County Finance Department <br />$12,000 <br />$10,000 <br />$8,000 <br />$6,000 <br />$4,000 <br />$2,000 <br />$- <br />Figure 6.5: Impact Fee Revenue <br />1999 2000 2001 2002 2003 2004 <br />Revenue (in thousands) <br />Source: Indian River County Finance Department <br />Prior to October 1999, Indian River County levied traffic, water, and sewer impact fees on new <br />development projects. In October 1999, water and sewer impact fees were restructured into capacity <br />Community Development Department Indian River County <br />Supplement #_; Ordinance 2005- <br />5 <br />