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Indian River County I Impact Fee Update Study <br /> Total Impact Cost per Resident <br /> Table VIII-6 presents the total impact cost per resident for parks and recreation facilities in <br /> Indian River County. Using the current achieved LOS, as previously presented in Table VIII- <br /> 2, the total cost for neighborhood/community parks in Indian River County is $61 per <br /> resident and the total cost for regional parks is $809 per resident, for a total of $869 per <br /> resident. <br /> Table VIII-6 <br /> Total Impact Cost per Resident <br /> ComponentPark Type <br /> .. ... Total <br /> Regional <br /> Community <br /> Total Land Value per Resident(') $27.00 $392.25 $419.25 <br /> Total Facility Value per Resident(2) 33.63 $416.36 449.99 <br /> Total Impact Cost per Resident(3) $60.63 $808.61 $869.24 <br /> (1) Source:Table VIII-4 <br /> (2) Source:Table VIII-5 <br /> (3) Sum of the land value per resident(Item 1)and the facility value per acre(Item 2) <br /> Credit Component <br /> To avoid overcharging new development for the capital cost of providing parks and <br /> recreation services, a review of the capital financing program for the parks and recreation <br /> program was completed. The purpose of this review was to determine any potential <br /> revenues generated by new development, other than impact fees, which have been used <br /> within the last five years or planned to be used over the next five years to fund the <br /> expansion of capital facilities, land, and equipment related to Indian River County's parks <br /> and recreation program. Based on this review, Indian River County's parks capital <br /> expansion improvements are being funded primarily with sales tax revenues (96 percent of <br /> total non-impact fee spending), and, at a lesser degree, with general fund and grant <br /> revenues. <br /> Capital Expansion Expenditures Credit <br /> Between 2008 and 2017, Indian River County spent or planned to spend a total of $6.4 <br /> million for capital expansion of parks, resulting in an average annual capital expansion <br /> expenditure of $639,000. Since the review of these expenditures spanned 2008 through <br /> 2017, the average annual capital expansion cost is divided by the average population for <br /> Tindale-Oliver&Associates, Inc. Indian River County <br /> June 2014 97 Impact Fee Update Study <br /> t 3�- <br />