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• <br />s <br />Indian River County 1 Impact Fee Update Study <br />• County gas tax equivalent pennies <br />• State gas tax expenditures <br />County Gas Tax Equivalent Pennies <br />A review of the County's historical roadway financing program (FY 2008-2013) and the <br />Capital Improvement Plan (CIP) for FY 2014-2017 indicates that a combination of sales tax <br />revenues, fuel tax revenues, impact fees, developer contributions, and grants are used to <br />fund roadway capacity expansion projects. With the County's local option sales tax set to <br />expire in 2019 and the re -adoption and dedication,,to.transportation unknown, a sales tax <br />credit was given only for programmed expenditures`in the CIP. If.the sales tax is re -adopted <br />in 2019 or a different revenue source is allocated -to transportation capacity to replace the <br />sales tax revenues, these credit figures may,need to be revised. <br />As shown in Table D-2, Indian River. County receives a credit of 5.6 pennies for the portion <br />of non -impact fee revenues (excluding'sales tax) dedicated to capacity expansion projects <br />such as new road construction, lane'additions;-and intersection improvements. <br />"Table D-2' <br />County Gas TaxEquivalent Pennies (Excluding Sales Tax <br />(1) Source: Table.D-5 <br />(2) Source. Table D5 <br />(3) Source: Table.D;1', <br />(4) Cost of projects divided by number of years divided by revenue from 1 penny (Item 3) divided by 100 <br />As shown in Table D-3, Indian River County receives a credit of 11.1 pennies for the portion <br />of non -impact fee revenues (sales tax ONLY) dedicated to capacity expansion projects such <br />as new road construction, lane additions, and intersection improvements. In the impact fee <br />calculation, this credit will only be applied for five years, as the sales tax will not be <br />considered a recurring revenue source for transportation capacity improvements. <br />Tindale -Oliver & Associates, Inc. <br />January 2014 <br />Indian River County <br />D-3 Impact Fee Update Study <br />Cost of 1 <br />Number of <br />Revenue <br />Equivalent <br />Source <br />! <br />Projects <br />Years3) <br />from 1 <br />Pennies (4j <br />Penny(- <br />- <br />Projected CIP Expenditures(FY 2014-2017)(1) <br />-v, $18,612,373 <br />4 <br />$739,909 <br />$0.063 <br />Historical'CountyEx•enditures-(FY2008-2013)(�) <br />$22,996,416 <br />6 <br />$739,909 <br />$0.052 <br />Total . ` _ <br />$41,608,789 <br />10 <br />$739,909 <br />$0.056 <br />(1) Source: Table.D-5 <br />(2) Source. Table D5 <br />(3) Source: Table.D;1', <br />(4) Cost of projects divided by number of years divided by revenue from 1 penny (Item 3) divided by 100 <br />As shown in Table D-3, Indian River County receives a credit of 11.1 pennies for the portion <br />of non -impact fee revenues (sales tax ONLY) dedicated to capacity expansion projects such <br />as new road construction, lane additions, and intersection improvements. In the impact fee <br />calculation, this credit will only be applied for five years, as the sales tax will not be <br />considered a recurring revenue source for transportation capacity improvements. <br />Tindale -Oliver & Associates, Inc. <br />January 2014 <br />Indian River County <br />D-3 Impact Fee Update Study <br />