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• <br />Indian River County 1 Impact Fee Update Study <br />Capital Improvement Credit <br />Table V-9 summarizes the library related capital expansion projects that are funded by state <br />grants. The table includes recent expenditures for the years 2008 through 2017. The <br />average annual capital expansion expenditure during this five-year period is $0.34 per <br />resident. This figure is calculated by dividing the average annual total capital expenditure <br />amount for the ten-year period by the County's average population during the same time <br />period. <br />Table V-9 <br />Historical Library Capital Expansion Funding Sources <br />Fiscal Year <br />Construction of Brackett Library: > <br />State Library <br />Grant <br />Total <br />FY 2008 ` <br />$0 <br />-' <br />, $0 <br />FY 2009 = ; . <br />,/ <br />`, <br />$300,000 <br />'' ., <br />\-$300,000 <br />FY 2010.- <br />$200,000 <br />'$200,000 <br />FY2011-.FY2017 -• , - <br />Total ` <br />$500,000 <br />$500,000 <br />Average Annual Capacity Expansion Expenditures(2) <br />' $50,000 <br />$50,000 <br />Average Annual' Popialationl3) `,; , <br />' <br />148,070 <br />Capital Expansion Credit per Resident <br />' $0.34 <br />(1) Source: Indian. River County <br />(2) Average expenditure per year <br />(3) Source: Appendix A, Table A-1 <br />(4) •Average annual capacity expansion expenditures` (Item 2) divided by the average annual <br />;'r population -(Item 3) ' _ <br />Net Libra <br />ry' _ F <br />acilities Impact, Cost <br />The net impact•fee per residence is the difference between the cost component and the <br />credit component.•.Table V40 summarizes the calculation of the net library impact cost per <br />resident. <br />Tindale -Oliver & Associates, Inc. Indian River County <br />January 2014 54 Impact Fee Update Study <br />