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Indian River County 1 Impact Fee Update Study <br />Affordable Growth Strategy <br />Based on the data shown in Table V-9, the County uses approximately $50,000 per year of <br />non -impact fee funding for library capacity projects. During the next 25 years, Indian River <br />County is expected to grow at an average annual rate of 1.4 percent. Figure V-1 presents <br />how impact fee levels would change over time with different growth rates. As shown, the <br />red horizontal line represents the maximum impact fee calculated above. This level is <br />considered the investment needed to maintain the current LOS. Given that the available <br />non -impact fee funding for library capital facilities is very -limited, the County needs most of <br />the impact fee (approximately 95 percent) to maintain the'adopted LOS standards used to <br />calculate the impact fee. In addition, library impact'fees are'charged only to residential land <br />uses and the County's primary focus at this time is to provide sdme`impact fee relief to non- <br />residential land uses. <br />12095 <br />10096 <br />Figure V-1 "`\ <br />Library Impact Fee` -.Affordable Growth Approach <br />8096 <br />n 60% <br />40% — <br />20% <br />Total Cost <br />Maximum Impact Fee -- <br />LOS Curve <br />IRC,Average <br />Annual Growth. ; <br />096 <br />(10095 1.0096 2.00% 3.0096 4.00% 5.0096 6.00% 7.00% 8.0096 9.00% 10.0096 <br />Annual Growth Rate <br />Tindale -Oliver & Associates, Inc. Indian River County <br />January 2014 57 Impact Fee Update Study <br />