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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 />0.20% of county funds for FY 2007/08 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 />Source: Indian River County Finance Department <br />Source: Indian River County Finance Department <br />Since 1986, Indian River County has levied <br />traffic impact fees on new development projects. In June of 2005, Indian River County began to levy <br />Community Development Department Indian River County <br />Supplement #_; Adopted November _, 2009, Ordinance 2009-_ 5 <br />