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Indian River County I Impact Fee Update Study <br /> In summary, Indian River County contributes approximately 16.7 pennies toward roadway <br /> capacity expansion projects,while the State spends an average of 15.5 pennies for state roadway <br /> projects in Indian County. Therefore, a total of 32.2 pennies of credit are included in the impact <br /> fee calculation to recognize the future capital revenue that is expected to be generated by new <br /> development from all non-impact fee revenues,as shown in Table IX-6. <br /> Table IX-6 <br /> Equivalent Pennies of Gas Tax Revenue <br /> Equivalent <br /> Credit Pennies per <br /> Gallon <br /> County Revenues(excluding sales tax)(') $0.056 <br /> County Revenues(sales tax ONLY)(2) $0.111 <br /> State Revenues(3) 0.155 <br /> Total $0.322 <br /> (1) Source:Appendix D,Table D-2 <br /> (2) Source:Appendix D,Table D-3(only accounts for 5 years of sales <br /> tax revenues) <br /> (3) Source:Appendix D,Table D-4 <br /> Present Worth Variables <br /> Facility Life <br /> The roadway facility life used in the impact fee analysis is 25 years, which represents the <br /> reasonable life of a roadway. <br /> Interest Rate <br /> This is the discount rate at which gasoline tax revenues might be bonded. It is used to compute <br /> the present value of the gasoline taxes generated by new development. The discount rate of 2.5 <br /> percent was used in the transportation impact fee calculation based on the estimate obtained <br /> from Indian River County. <br /> Fuel Efficiency <br /> The fuel efficiency (i.e., the average miles traveled per gallon of fuel consumed) of the fleet of <br /> motor vehicles was estimated using the quantity of gasoline consumed by travel associated with <br /> a particular land use. <br /> Tindale-Oliver&Associates, Inc. Indian River County <br /> June 2014 116 Impact Fee Update Study <br /> �S I <br />