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Ordinance No. 2014-020 Procedurally, the Local Government Infrastructure Surtax must be enacted by a majority vote of the Board of County Commissioners and approved by voters in a countywide referendum. That surtax, which may be imposed for a maximum period of fifteen years, was imposed by Indian River County in April, 1989, and was renewed by voters in November, 2002. Generally, the proceeds must be expended to finance, plan, and construct infrastructure; to acquire land for public recreation or conservation or protection of natural resources; or to finance the closure of local government-owned solid waste landfills that are already closed or are required to close by order of the Department of Environmental Protection. The tax will expire on December 31, 2019, unless renewed by the voters. If that tax is not renewed by the voters, beginning in FY 2019/20, either capital project expenditures will need to be significantly decreased or another significant revenue source or combination of revenue sources will be required. With respect to transportation projects, the Metropolitan Planning Organization's (MPO) Long Range Transportation Plan indicates that many if not most of the County's major roadways, including County Road 510, 43rd and 58h Avenues between 16th Street and 26th Street, 26th Street (east of 58b Avenue), and CR 512 (west of 1-95) will be severely over capacity if funding sources are not maintained and if projects are deferred because of the lack of funding. Table 6.1 shows that local sales surtax revenue represented 7.33% of all funds collected by Indian River County in FY 2012/13. Figure 6.6 displays the Local Discretionary Sales Surtax revenue received by Indian River County over the last six fiscal years. This local revenue source increased by 16% over that period. Distribution of surtax proceeds is based on the specifics of an interlocal agreement or through a formula based on population. In Indian River County, Local Infrastructure Surtax revenue is distributed to county government and municipal governments through a formula based on population. Currently, seventeen of the sixty-seven Florida counties levy a Local Government Infrastructure Surtax. Within Indian River County's region, Brevard, Martin, Palm Beach, and St. Lucie counties do not levy the surtax. While Okeechobee County is eligible to levy the infrastructure surtax, it instead levies a Small County Surtax of 1%. That is another local discretionary sales surtax. • Tourist Development Tax Any county in the state may, subject to a vote of the citizenry, impose a Tourist Development Tax Community Development Department Adopted , 2014, Ordinance 2014 - Figure 6.7: Tourist Development Tax Revenue $2.000 --- $1,743 $1.800 51.605 S 1 585 $1.600 =' a� $1,400 c 2cia 51 325 $1,200 $1,000 — $800 $600 $400 $200 $ 2008 2009 2010 2011 2012 2013 ■Revenue (fn thousands) Source: Indian River County Finance Department The transient rental trade is the primary base for Indian River County 7