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• <br />• <br />• <br />Indian River County 1 Impact Fee Update Study <br />Net Emergency Services Impact Cost <br />The net impact fee per functional resident is the difference between the cost component <br />and the credit component. Table VI -8 summarizes the calculation of the net emergency <br />services impact cost per functional resident. <br />The first section of this table identifies the total impact cost as $304 per functional resident. <br />The second section of the table identifies the revenue credits for the emergency services <br />impact fee totaling approximately $102 per functional res dent which is equal to the net <br />present value of the capital expansion credit per functional resident. <br />The net impact cost per functional resident is-the;difference between the total impact cost <br />and the total revenue credit. This results in7a net impact cost` of ;$201 per functional <br />resident. - <br />`,Table VI -8 <br />Net Impact Cost perFunctional Resident <br />- — 1 <br />Impact Cost / Credit Element 1 <br />Impact Cost z <br />- - <br />Impact Cost <br />Revenue <br />Credits <br />Total Impact Cost pe•r,Functional 'Res'ident(1) <br />$303.57 <br />Revenue Credit <br />Avg Annual Capital' Improvement Credit:pe? Functional Resident12l <br />$5.55 <br />-' <br />Capitalization Rate--‘,..:- \,. <br />2.5% <br />Capitalization Period (in years) �4. <br />25 <br />Capital Improvement Credit per Resid`ent_(3), <br />$102.26 <br />Net Impact Costs_ . _ <br />Net Impact Cost per`Functional Resident(4) <br />$201.31 <br />(1) Source: Table VI -6 <br />(2) Source: Table VI -7 <br />(3) Average annual capital improvement credit per functional resident (Item 2) over a capitalization rate of <br />2.5% for 25 years. The capitalization rate estimate is provided by Indian River County <br />(4) Total impact cost per functional resident (Item 1) less the total revenue credit per functional resident <br />(Item 3) <br />Tindale -Oliver & Associates, Inc. <br />Indian River County <br />January 2014 69 Impact Fee Update Study <br />