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• <br />Indian River County 1 Impact Fee Update Study <br />Affordable Growth Strategy <br />Based on the data shown in Table IV -5, the County will use $694,000 per year of sales tax <br />revenues for the next five years. In addition, the County uses approximately $25,000 per <br />year of recurring non -impact fee funding for capacity projects. During the next 25 years, <br />Indian River County is expected to grow at an average annual rate of 1.4 percent. Figure IV - <br />1 presents how impact fee levels would change over time with different growth rates. As <br />shown, the red horizontal line represents the maximum technically acceptable fee. This <br />level is compared to investment needed to maintain the current LOS. Although the County <br />may charge the maximum amount of public buildings impact fee calculated, if the historical <br />levels of non -impact fee funding were to be continued; the'County could adopt the impact <br />fee at approximately 90 percent for all land uses and continue to maintain the adopted LOS <br />standard used in the calculations. If the County decides to buy=down all non-residential <br />land uses at 100 percent (e.g., $0 impact fee.for,non-residential land'uses), the residential <br />y <br />land uses need to be charged at approximately 52 percent'to maintain'the,adopted LOS <br />standard. As mentioned previously, these calculations assume that the sales -tax will not be <br />re -adopted in 2019. If the sales 'tax�is: re=adopted in. 2019 or another revenue source <br />becomes available for public building `s capital projects, these calculations need to be <br />revised. Finally, the/level of discount is a,policy decision and could be at any level between <br />the minimum levels` calculated'in this section and 100 percent and still maintain the <br />adopted LOS standard: <br />120% <br />100% <br />80% <br />0 <br />V 60% <br />1- <br />40% <br />20% <br />Figure <br />Public Buildings Impact Fee'—.Affordable Growth Approach <br />7 <br />IRC Average <br />- Total Cost <br />- Maximum Impact Fee _ <br />LOS Curve <br />AnnualGrotivth <br />036r r r i r r r r r <br />0.00% 1.00% 2.00% 3.00% 4.0096 5.00% 6.00% 7.00% &00% 9.00% 10.00% <br />Annual Growth Rate <br />Tindale -Oliver & Associates, Inc. Indian River County <br />January 2014 42 Impact Fee Update Study <br />