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• <br />Indian River County 1 Impact Fee Update Study <br />Total Impact Cost per Resident <br />Table IX -6 presents the total impact cost per resident for parks and recreation facilities in <br />Indian River County. Using the current achieved LOS, as previously presented in Table IX -2, <br />the total cost for neighborhood/community parks in Indian River County is $61 per resident <br />and the total cost for regional parks is $809 per resident, for a total of $869 per resident. <br />Table IX -6 <br />Total Impact Cost per Resident, <br />r - <br />Component <br />Total Land Value per Resident'"`;$27.00 <br />Park Type j <br />Total <br />�— <br />Neighborhood/ j <br />Community <br />Regional <br />`� $392.25 <br />$419.25 <br />Total Facility Value per Resident(2) <br />-- ! $33.63 <br />"- $416.36 <br />$449.99 <br />Total Impact Cost per Resident(3) <br />$60.63 <br />$808.61 <br />$869.24 <br />(1) Source: Table IX -4 <br />(2) Source: Table IX -5 <br />(3) Sum of the land value per resident (Item 1) and the facility,value per acre (Item 2 <br />Credit Component <br />To avoid overcharging new development for the capital. cost of providing parks and <br />Y' <br />recreation services, a review of the capital financing program for the parks and recreation <br />program, -was; completed...... Thepurpose,,of this review was to determine any potential <br />revenues generated- by, new -development, other than impact fees, which have been used <br />within,.rs <br />the last five yea,or planned to be `used over the next five years to fund the <br />expansion, of,,capital facilities, land; and,equipment related to Indian River County's parks <br />and recreation -,,program. `Based on`rthis review, Indian River County's parks capital <br />expansion improvements are'being funded primarily with sales tax revenues (96 percent of <br />• <br />total non -impact fee 'spending), and, at a lesser degree, with general fund and grant <br />revenues. <br />Capital Expansion Expenditures Credit <br />Between 2008 and 2017, Indian River County spent or planned to spend a total of $6.4 <br />million for capital expansion of parks, resulting in an average annual capital expansion <br />expenditure of $639,000. Since the review of these expenditures spanned 2008 through <br />2017, the average annual capital expansion cost is divided by the average population for <br />this same period. As presented in Table IX -7, the average annual capital expansion <br />Tindale -Oliver & Associates, Inc. Indian River County <br />January 2014 94 Impact Fee Update Study <br />