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State Road 60 Interest Share Fee Ordinance Technical Memorandum Indian River County (County) and the Florida Department of Transportation (FDOT) plan to enter into a joint participation agreement to advance the widening of State Road 60 (SR60). The County desires to advance the SR60 widening to an earlier date than would otherwise occur in the FDOT work program. The County will advance the construction funding for the SR60 widening project, and be repaid by the FDOT, without interest, at a later date. To recover the loss of potential interest earnings on the advanced funds, the County plans to impose a SR60 interest share fee to be imposed on new development impacting SR60. This technical memorandum details the methodology used in formulating and applying the SR60 interest share fee. The technical memorandum contains the following four sections. 1. SR60 radius of influence 2. Summary of reimbursement costs 3. Trip cost allocation 4. SR60 interest share fee calculation 1. SR60 Radius of Influence The SR60 radius of influence is defined as the geographic area in which traffic generated by new development is anticipated to consume a portion of the transportation capacity on SR60 created by widening SR60 from 4 -lanes to 6 - lanes. The SR60 widening will be done in two segments. Segment One is between 66th Avenue and 82"d Avenue. Segment Two is between 82nd Avenue and 1-95. The County's current radius of influence for new development is eight (8) miles. The 8 -mile radius of influence has been conceptually approved by both the County Planning and Zoning Commission and the Board of County Commissioners. The 8 -mile radius of influence is planned for formal adoption by the County with the upcoming modifications to Chapter 952 of the County Land Development Regulations. Applying the County standard, the SR60 radius of influence shall be fixed at a distance of 8 miles. If any portion of a new development is located within 8 miles of the SR60 Segment One (66th Avenue to 82nd Avenue) or Segment Two (82nd Avenue to 1-95) improvements, then the entire development shall be subject to the SR60 interest share fee for Segment One and/or Segment Two. The County de minimus trip threshold (8 trips/2-lane, 15 trips/4+ lane) shall not exempt development from payment of the SR60 interest share fee, if any portion of the development falls within the 8 -mile SR60 radius of influence.