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Comprehensive Plan Capital Improvements Element Changes to the Capital Improvements Program With the ongoing depressed housing market, challenges in the national and global financial markets, and the reduction in building permit activity, county revenue again decreased and is expected to remain lower than projected in the prior year's Capital Improvements Program (Fiscal Years 2009/10 through 2013/14). As a result of the decrease in projected revenue and the associated decrease in projected demand for public facilities, the overall Capital Improvements Program has been scaled back. Consequently, a number of projects within the 2009/10 through 2013/14 CIP have had their time frame extended. None of the changes will impact development project concurrency reservations. Because of the depressed housing market, problems with the financial markets, and limited construction activity, it is anticipated that the capacity associated with most of these projects will not be needed until later dates. Two of the transportation projects that have had their construction dates extended involve improvements to roadways that are over capacity according to the County's concurrency management system. Listed in Table 6.10, these deficient links are C.R. 510 between 581' Avenue and U.S. Highway 1 and AIA from 17th Street to the south city limits of the City of Vero Beach. While the transportation projects designed to improve these deficient links are being rescheduled to later years of the CIP, there are several factors that are expected to increase available capacity in the short term. One such factor is that concurrency certificates for some development projects with vested trips will expire soon. At that time, the reserved trips reflected by those projects will be removed from the concurrency management system. Another factor is that recent traffic counts indicate that traffic volumes are continuing to decrease on most roadways. These new traffic counts will soon be reflected in the County's concurrency management system. At that time, the increased capacity and decreased demand will have the effect of increasing the available capacity on County roadways and will likely further decrease the need for scheduling, financing, and constructing transportation projects in the County's CIP. By extending the time frame of transportation projects, the county can utilize its limited resources to complete priority concurrency related projects within the overall capital improvements program. In effect, the county needs to delay some projects so that other projects will remain fundable with a diminishing county budget. By funding only necessary projects, the County is also maintaining a financially feasible capital improvements element. Table 6.10: Concurrenc Links Report for Trans ortation Pro ects with deficient links Transportation Project with Deficient Link ,L;ink#".' LinkDescriptian = Capacity* � Total Demand* Available* CR 510, 61s` Drive to Indian River, four lanes (1.6 miles) 1830E C.R. 510, 50 Avenue to U.S. 1 810.00 707.26 102.74 1830W C.R. 510, 58 1h Avenue to U.S. 1 810.00 874.76 -64.76 1840E C.R. 510, U.S. 1 to S.R. AIA 2,049.00 715.66 1,333.34 1840W I C.R. 510, U.S. 1 to S.R. AIA 2,049.00 775.48 1,273.52 17 th Street/AIA Intersection 1020N I S.R. AIA, Southern Vero Beach City Limits 1 930.00 1,081.37 1 -151.37 Community Development Department Indian River County Supplement #_; Adopted November _, 2010, Ordinance 2010-_ 32