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Comprehensive Plan Capital Improvements Element <br />Changes to the Capital Improvements Program <br />With the ongoing depressed housing market, challenges in the national and global financial markets, <br />and the reduction in building permit activity, county revenue again decreased and is expected to <br />remain lower than projected in the prior year's Capital Improvements Program (Fiscal Years 2008/09 <br />through 2012/13). As a result of the decrease in projected revenue and the associated decrease in <br />projected demand for public facilities, the overall Capital Improvements Program has been scaled <br />back. Consequently, a number of projects within the 2008/09 through 2012/13 CIP have either had <br />their costs modified, have been deferred, or have had their time frame extended. <br />None of the changes will impact development project concurrency reservations, and only a few <br />changes to the transportation section of the CIP directly impact capacities within the county's <br />concurrency management system. Because of the downturn in the housing market, financial markets, <br />and construction activity, it is anticipated that the capacity associated with these projects will not be <br />needed until later dates. <br />The specific concurrency related projects removed from the transportation section of the CIP are <br />detailed in Table 6.10 and include roadway segments only on 27th Avenue. For these projects, funds <br />were to come from the county's gas tax, optional sales tax and impact fees. Even though these <br />projects are being deleted, portions of 27th Avenue will still be built with the Oslo Road improvement <br />projects. <br />Of the projects being deleted from last year's CIP and shown in Table 6. 10, none have had their added <br />capacity relied upon for vesting development projects for concurrency. On links that are associated <br />with the deleted projects listed in Table 6. 10, the available capacity ranges from 13.45 available peak <br />hour, directional trips to almost 600 available peak hour, directional trips. <br />While the County's current Concurrency Links Report shows that existing available capacity on 27th <br />Avenue is minimal, it is expected that the available capacity will soon increase due to a number of <br />factors. With the depressed housing market, there are some development projects that previously had <br />trips vested for concurrency, but because of expiring concurrency certificates will now have or will <br />soon have their reserved trips removed from the concurrency management system. Also, traffic <br />counts conducted by the County this year indicate a further reduction in traffic volume on most <br />roadways. These new traffic counts will also soon be added to the County's concurrency management <br />system. Both the increased capacity and decreased demand will add additional available capacity <br />back to County roadways and will likely further decrease the need for scheduling, financing, and <br />constructing transportation projects in the County's CIP. <br />By deleting the transportation projects as shown, the county can utilize its limited resources to <br />complete priority concurrency related projects within the overall capital improvements program. In <br />effect, the county needs to delete some projects so that other projects will remain fundable with a <br />Community Development Department Indian River County <br />Supplement #_; Adopted November _, 2009, Ordinance 2009- <br />32 <br />