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• <br />1 <br />• <br />Indian River County 1 Impact Fee Update Study <br />Table D-3 <br />County Gas Tax Equivalent Pennies (Sales Tax ONLY) <br />Source <br />Projected CIP Ex.enditures (FY 2014-2017)(1) <br />Historical County Ex.enditures (FY 2008-2013)(2) <br />Total <br />Cost of <br />Projects <br />$59,458,414 <br />$22, 319, 296 <br />$81,777,710 <br />Number of <br />Years <br />4 <br />6 <br />10 <br />Revenue <br />from 1 I <br />Penny(3) <br />$739,909 <br />$739,909 <br />$739,909 <br />Equivalent <br />Pennies(') <br />$0.201 <br />$0.050 <br />(1) <br />(2) <br />(3) <br />(4) <br />Source: Table D-6 <br />Source: Table D-6 <br />Source Table D-1 <br />Cost of projects divided by number of years divided by revenue from 1 penny (Item 3) divided by 100 <br />State Gas Tax Expenditures <br />In the calculation of the equivalent pennies of gas tax from the State, expenditures on <br />• roadway capacity expansion spanning a 10 -year period4.from FY 2009-4o'FY 2018) were <br />reviewed. For calculation purposes, the 10 -year period: was broken into two increments; <br />historical (FY 2009-2013) and future;.(FY`2014-2018):;. Information on historical projects' <br />funding and the future year estimates was obtained from'the`FDOT Work Programs and the <br />County's FY 2014-2018-Transportation'.Improvement Program (TIP). The use of a 10 -year <br />period, for purposes of developing a State credit:forroadway capacity expansion projects, <br />results in a stable credit, as it accounts for the'volatility in FDOT spending in the county over <br />short periods of time. , <br />The Aotalzcost of the -s capacify=adding projec#s) for the five-year "historical" period and <br />projected -in the five-year Transportation Improvement Program are as follows: <br />• FY 20'09-'2013 work plan equates to 20.5 pennies <br />• FY 2014-2018 work plan equates to 10.5 pennies <br />The combined weighted average over the 10 -year period of state expenditure for capacity - <br />adding roadway projects results in a total of 15.5 equivalent pennies, which is a slightly <br />higher state credit than what is observed in most other counties. Table D-4 documents this <br />calculation. The specific projects that were used in the equivalent penny calculations are <br />summarized in Table D-7. <br />Tindale -Oliver & Associates, Inc. Indian River County <br />January 2014 <br />D-4 Impact Fee Update Study <br />