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Indian River County 1 Impact Fee Update Study <br />Table 11-6 <br />Total Impact Cost per Functional Resident <br />Description <br />' !� <br />8ui|din8Va|ueW <br />Figure <br />$63327008 <br />Percent of <br />Total Value (« <br />9I2I% <br />Land Va|ue`° <br />$1,825500 <br />2.69% <br />EquipmentVa|ue(2) <br />$2,780,601 <br />4.09% <br />Total Asset Value <br />$67,933,101 <br />10000% <br />Number of8eds`~' <br />' <br />612 <br />' <br />' <br />Net Asset Value per 0ed(w / <br />� <br />� � <br />$111,082 <br />CurventU33(Bedsper1OOOFunctiona|Residents)/CY' ' <br />` ` <br />\ <br />` 4.37 <br />Total Impact Cost per Functional ~~mV- <br />(1) Source: Table 11-1`` <br />(2) Source:Table|�Z ` .^` <br /></ <br />(3) Source:Table 11-4 ��; `. ``` ��, <br />(4) Total ' <br />- ` \ / \'-.,., <br />(5) Source: Table 11-4 //�^' ' ' `�'' <br />(6) Net asset value per bed (Item 4)mu�PUedbytheour�eni Cor�cdona|bci|iUesLOS (Item 5) <br />^-`�. <br />di�dedbyl�OO � \' � <br />` <br />equipMent value of tlie.otal asset value <br />(7)Percent of building value, land value, and <br />, <br />/ <br />Credit Component . <br />` <br />�_ <br />. <br />To avoid overcharging new deVelopment,for th'e facility impact fee, a review of <br />the capital fincing programM,for correctiOnaLservices was completed. The purpose of this <br />revieWWas todetermine bnypotentia| revenueCredits generated by new development that <br />are being: 'Lied for expansion ofcapital facilities, land, and equipment included in the <br />` \ ''^ <br />inventory. <br />Capital Expansion Expenditur'es Credit <br />The capital expansion 'expenditures credit per functional resident was calculated based on <br />the capital expansion projects that were completed over the past five years and those <br />programmed for the next five years. The average annual capital expansion expenditures <br />were divided by the average functional residents for the same period in order to calculate <br />the average capital expansion cost per functional resident. <br />The County completed Phase IV expansion of the correctional facilities in 2008, which was <br />funded with sales tax revenues. Since then, there have not been any capacity expansion <br />Tindale -Oliver & Associates, Inc. Indian River County <br />January 2014 16 Impact Fee Update Study <br />