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• <br />• <br />Indian River County Impact Fee Update Study <br />X. Transportation <br />Indian River County's Transportation Impact Fee Ordinance was most recently updated in <br />2009 to assist the County in providing adequate transportation facilities for expected <br />growth. This section of the impact fee report provides the results of the transportation <br />impact fee analysis and consists of the following sections: <br />e <br />• <br />• <br />• <br />0 <br />Demand Component <br />Cost Component <br />Credit Component <br />Calculated Transportation Impact Fee:Schedule <br />Affordable Growth Strategy <br />Transportation Impact Fee Schedule Comparison <br />As in the case of other impact; fee program areas, ;the methodology used for the <br />transportation impact fee study follows-a,consumption;based impact fee approach, in <br />which new development-ischarged based upon the- proportion,of vehicle -miles of travel <br />(VMT) that each unit ofnew,developmentis, expected'toconsume of a lane mile of roadway <br />f <br />network. <br />Included -in this document is the,necessary, support material used in the calculation of the <br />transportation impact'fee. 'The general. equation used to compute the impact fee for a <br />given land use is: ; ,- , \ \`. <br />1 <br />`<, ' 7 <br />[Demand"x Cost] — Credit = Fee <br />The demand for travel placed;on the transportation system is expressed in units of VMT <br />(daily vehicle -trip generation 'rate times the trip length times the percent new trips [of total <br />trips]) for each land use contained in the impact fee schedule. The trip generation is <br />expressed in average daily rates since new development consumes trips on a daily basis. <br />The cost of building new capacity typically is expressed in units of dollars per vehicle mile or <br />lane mile of roadway capacity. The credit is an estimate of the future non -impact fee <br />revenues generated by new development that are allocated to transportation capacity <br />expansion construction projects. Thus, the impact fee is an "up front" payment for a <br />portion of the cost of building a lane mile of capacity directly related to the amount of <br />Tindale -Oliver & Associates, Inc. Indian River County <br />January 2014 102 Impact Fee Update Study <br />