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• <br />Indian River County 1 Impact Fee Update Study <br />Net Public Buildings Impact Cost <br />The net impact fee per functional resident is the difference between the Cost Component <br />and the Credit Component. Table IV -6 presents the calculation of the net public buildings <br />facilities impact cost per functional resident. <br />The first section of Table IV -6 identifies the total impact cost as $504 per functional <br />resident. The second section of the table identifies the.- capital expandion expenditure <br />credits for the public buildings facilities impact fee. <br />The net impact cost per functional resident (third section of:the table) is the difference <br />between the total impact cost per functional:resident of $504 and:the total revenue credit <br />• of $24 per functional resident. The result -is a net impact cost' of`$480 per functional <br />resident. <br />Table IV -6 <br />Net Public Buildinglmpact_Cost per Functional Resident <br />Calculation Step <br />Im.actCost ,_, <br />Impact <br />Cost <br />Revenue Credits <br />Sales Tax <br />Court <br />Facility <br />Surcharge <br />Total <br />Total Im.actCost .erFunctional Residentl'i.--' <br />$503.87 <br />0 <br />Revenue Credit <br />'- <br />Ay: Annual Ca.ital'Ex.ansion,Credit'Amdunt .er Functional Resident12i <br />$4.94 <br />$0.18 <br />Ca.italization Rate � ` <br />2.5% <br />2.5% <br />Ca.italization Period (in ears) - <br />5 <br />25 <br />Ca.ital Ex.ansion Credit .er Residentl3l, : - <br />$22.95 <br />$0.84 <br />$23.79 <br />Net lm.act Cost ', <br />Net Im.act Cost .er Functional Residentl4ls <br />$480.08 <br />(1) Source: Table IV -4•, <br />(2) Source: Table IV -5 \<'/-- <br />(3) Average annual capital improvement credit per functional resident (Item 2) over a capitalization rate of <br />2.5% for 5 years for sales CA and 25 years for the court facility surcharge. The estimated discount rate is <br />provided by Indian River County <br />(4) Total cost per resident (Item 1) less the total credit per resident (Item 3) <br />Calculated Public Buildings Impact Fee Schedule <br />Based on the analysis conducted in this section, a public buildings impact fee schedule was <br />40 developed for residential and nonresidential land uses and is illustrated in Table IV -7. <br />Tindale -Oliver & Associates, Inc. <br />Indian River County <br />January 2014 40 Impact Fee Update Study <br />