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Indian River County I 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 /> compared to investment needed to maintain the current LOS. Given that the available non- <br /> impact fee funding for library capital facilities is very limited, the County needs most of the <br /> 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 some impact fee relief to non- <br /> residential land uses. <br /> Figure V-1 <br /> Library Impact Fee—Affordable Growth Approach <br /> 120% <br /> 1009'0 <br /> 80% --- ----- <br /> e r 95% Total Cost <br /> 60% ---- Maximum Impact Fee <br /> 46 LOS Curve <br /> 40% -------- <br /> IRC Average <br /> Annual Growth <br /> 0% > _ - <br /> 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% 10.00% <br /> Annual Growth Rate <br /> Tindale-Oliver&Associates, Inc. Indian River County <br /> September 2014 62 Impact Fee Update Study <br /> A - 61 <br />