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• Indian River County 1 Impact Fee Update Study Affordable Growth Strategy As presented in Table X-6 and Appendix D, in addition to impact fees, the County will uses a combination of gas tax, sales tax, and grant revenues to fund the transportation system. In terms of affordable growth calculations, it is important to note the following: • Consistent with the methodology used by many Florida jurisdictions, impact fee calculations are based on the adopted LOS standard, which is lower than the current achieved LOS. In other words, under the`.current methodology, even with edr ao the full impact fee, unless the County uses coerk evenue sources, the current achieved LOS for the system will deteriorate and_ ore congestion will be experienced. It is Indian River Coynut policy to conNst a link -by -link capacity V analysis and ensure that no link dropsdbelow LOS standard e s such, affordable growth calculations are prepared using the current'fachieved LO '_- When the fee is calculated using the current achieved LOS 'it an°n o nts to $12,70 r a mid-size single family home, comparedFto'$,14,354 per home calculated using the adopted LOS standard. As such, the standard mef'hodology used�for transportation impact fees results in fee levels 10,`'6,''N ithat slowsodown the,dogrraadatioa°,othe system, but does not ® �, ''N, generate suffi%erit�revenues to maintain thpL��exi ting onditions when they are !ea, a -o stn.._ better thaNthe adopted OS standard' ' Ev Eks • As:,� eft oneed previously,.�=thaPia teredit calculations assume that the local option sales Etx w II not be re` -adopted in�2�019%,. 1n addition, the County had to defer `°maintenance expenses since,2006 through the CIP period due to lack of funding for °Qa ear,. ` c ciaHcity projects A As such,'�thkovailable revenues for transportation capacity are % • O :' a Iikely�to,_decrease in tie future The Affordable Growth calculations are based on this reduced funding and do not take into account funding from the State since the County does no.t con'tr'ol the State budget. If the sales tax is re -adopted or other revenue sources,Lbe ome available, these calculations will need to be revised. • Although the medium population projections from the University of Florida, Bureau of Economic and Business Research (BEBR) suggest an average growth rate of approximately 1.4 percent through 2040, the high projections indicate almost a 2 - percent annual growth rate. To mitigate the uncertainty of growth rates and given that even if adopted at 100 percent level, impact fees will not generate sufficient revenues to maintain the current LOS and that the transportation system will Tindale -Oliver & Associates, Inc. Indian River County January 2014 119 Impact Fee Update Study