11/10/2015 Impact Fee Update - Laserfiche WebLink

Home Browse Search

Indian River County I Impact Fee Update Study Calculated Parks& Recreation Facilities Impact Fee Schedule Table VIII-9 presents the calculated parks and recreation impact fee schedule developed for residential land uses. As previously mentioned, only residential development within unincorporated Indian River County is assessed a parks and recreation impact fee. Table VIII-9 Calculated Parks& Recreation Impact Fee Schedule impact Residents Net Cost per Total Current Percent Land Use M (2) Impact Adopted Change(5) unit per Unit Resident Fee(3) Fee(4) Residential Single Family(less than 1,000 sf) du 2.03 $835.50 $1,696 $1,302 30.3% Single Family(1,000to 1,499 sf) du 2.19 $835.50 $1,830 $1,302 40.6% Single Family(1,500to 2,499 sf) du 2.33 $835.50 $1,947 $1,463 33.1% Single Family(2,500 sf or greater) du 2.59 $835.50 $2,164 $1,587 36.4% Multi-Family/Accessory Unit du 1.33 $835.50 $1,111 $884 25.7% Mobile Home/RV Park(tied down) du 1.30 $835.50 $1,086 $942 15.3% (1) Source:Appendix A,Table A-3 (2) Source:Table VIII-8 (3) Residents per unit(Item 1)for each land use category multiplied by net cost per resident(Item 2) (4) Source:Indian River County.Fees do not include the administrative fee (5) Percent change from the current adopted rates(Item 4)to the calculated total impact fee rate(Item 3) Affordable Growth Strategy Based on a review of capital expansion expenditures between 2008 and 2017, the County will use approximately $639,000 per year of non-impact fee funding over the next five years and $24,000 per year afterwards. As mentioned previously, during the next 25 years, the County is expected to grow at an annual rate of 1.4 percent. Figure VIII-1 presents how impact fee levels would change over time with different growth rates. The maximum calculated fee is compared investment needed to maintain the current adopted LOS standard. Although the County may charge the maximum amount of parks and recreation impact fee calculated, the County needs approximately 92 percent of the maximum impact fee revenues to maintain the current LOS. As mentioned previously, the available non- impact fee consists primarily of sales tax revenues. These calculations assume that the sales tax will not be re-adopted in 2019. If the sales tax is re-adopted, the Affordable Growth calculations should be reviewed to see if a revision is necessary. In addition, the County is targeting non-residential land uses for potential discounts and the parks and recreation fees are charged only to residential land uses. Tindale-Oliver&Associates, Inc. Indian River County June 2014 101 Impact Fee Update Study 134