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Indian River County I Impact Fee Update Study Calculated Transportation Impact Fee Schedule The impact fee calculations for each land use are included in Appendix E, which includes the major land use categories and the impact fees for the individual land uses contained in each of the major categories. For each land use,Appendix E illustrates the following: • Demand component variables (trip rate,trip length, and percent of new trips); • Total impact fee cost; • Annual gas tax credit; • Present value of the gas tax credit; • Net transportation impact fee; • Current Indian River County impact fee; and • Percent difference between the calculated impact fee and the 2009 adopted impact fee. It should be noted that the net impact fee illustrated in Appendix E is not necessarily a recommended fee, but instead represents the technically defensible impact fee per unit of land use that could be charged in Indian River County. For clarification purposes, the calculation of an impact fee for one land use category is presented. In the following example, the net impact fee is calculated for the single-family residential detached land use category (ITE LUC 210) using information from the impact fee schedule included in Appendix E, Table E-1. For each land use category, the following equations are utilized to calculate the net impact fee: Net Impact Fee=Total Impact Cost—Gas Tax Credit Where: Total Impact Cost = ([Trip Rate x Assessable Trip Length x % New Trips] / 2) x (1 — Interstate/Toll Facility Disc. Factor) x (Cost per Vehicle-Mile of Capacity) Gas Tax Credit = Present Value (Annual Gas Tax), given 2.5% interest rate & 25-year facility life Tindale-Oliver&Associates, Inc. Indian River County June 2014 118 Impact Fee Update Study 1s3