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• <br />• <br />• <br />Indian River County 1 Impact Fee Update Study <br />Table V-10 <br />Net Library Facilities Impact Cost <br />Calculation Step <br />J <br />Impact <br />Cost <br />Revenue <br />Credits <br />Impact Cost <br />Building and Land Cost per Resident (1) <br />$141.38 <br />- <br />Library Materials Cost per Resident(�) <br />$172.80 <br />Library Equipment Cost per Resident(3) <br />$1.99 <br />Total Impact Cost 141 <br />$316.17 <br />Revenue Credit 1= ! <br />Average Annual Capital Expansion Credit per,Residen'tlslN <br />$0.34 <br />Capitalization Rate <br />2.5% <br />Capitalization Period (in years) `` : , ' <br />25 <br />Capital Expansion Credit per Resident: , <br />$6.26 <br />Net Impact Cost <br />(7 ' 4 <br />Net Impact Cost per Resident �•�,) �t- � -, <br />$309.91 <br />(1) Source. Table V-7 <br />(2) Source Table V-8 <br />(3) Source Table V-8 <br />(4) The sum of building, land, materials, and equipment costs (Items 1, 2, and 3) <br />(5) Source Table V-9.- =,' <br />(6) Source: The present value of the capital'improvement-credit per functional resident <br />(Item 2) at a.discount rate of,'ca2.5% with'a_pitalization period of 25 years. The discount <br />rate was provided by IndianlRiver County; <br />(7) TotaI impact cost per resident.(Item 4) less total credit per resident (Item 5) <br />L SS. <br />Calculated Library Facilities Impact.Fee Schedule <br />The calculated,,library impact fee for"each residential land use is presented in Table V-11. <br />The net impact'cost per resident calculated in the previous section is applied to the average <br />persons per unit by land use. The resulting total impact fees per dwelling unit range from <br />$391 for the multi-farnilyresidential land use to $785 for single family land use with 2,500 <br />square feet or more space:] <br />Tindale -Oliver & Associates, Inc. Indian River County <br />January 2014 55 Impact Fee Update Study <br />