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Comprehensive Plan Capital Improvements Element <br />• Special Assessments <br />Special assessments are compulsory payments levied on real property for specific benefits generated <br />by public investments or services; the <br />assessment levied must fairly reflect the <br />actual costs of the improvements. County <br />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 <br />improvements Expenditures of special <br />assessment revenue are restricted to public <br />improvement projects that directly benefit <br />the property owner or payee. For example, <br />street paving assessment revenues must be <br />spent on paving streets that directly benefit <br />the payer of the assessment. <br />Special Assessment funds represented <br />0 17% of county funds for FY 2006/07 as <br />shown in table 6.1. Figure 6.4 displays the <br />revenue collected by Indian River County <br />through special assessments over the last six <br />fiscal years <br />• Impact Fees <br />An impact fee is a one time charge, fee, or <br />assessment levied as a condition of issuance <br />of subdivision or site plan approval, <br />issuance of a building permit, approval of a <br />certificate of occupancy, or other <br />development or construction approval when <br />any portion of the revenues collected is <br />intended to fund any portion of the costs of <br />capital improvements for any public <br />facilities. <br />Since 1986, Indian River County has levied <br />traffic impact fees on new development projects. In June of 2005, hldian River County began to levy <br />Figure 6.4: Special Assessments Revenue <br />$600 <br />$500 <br />$400 <br />$300 <br />$200 <br />$100 <br />$- <br />2002 2003 2004 2005 2006 2007 <br />m <br />Revenue (in thousands) <br />Source: Indian River County Finance Department <br />$40,000 <br />$35,000 <br />$30,000 <br />$25,000 <br />$20,000 <br />$15,000 <br />$10,000 <br />$5,000 <br />$- <br />Figure 6.5. Impact Fee Revenue <br />2002 2003 2004 2005 2006 2007 <br />0 <br />Revenue (in thousands) <br />Source: Indian River County Finance Department <br />Community Development Department <br />Supplement #13; Adopted November 18, 2008, Ordinance 2008-018 <br />Indian River County <br />5 <br />