11/10/2015 Impact Fee Update - Laserfiche WebLink

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Indian River County I Impact Fee Update Study continue to degrade, the high growth projection is used in the affordable growth calculations for the transportation impact fee. Based on this scenario, the County would need approximately 90 percent of the fee for all land uses, as long as an additional funding of $10 million per year is available for the next five years and $2.7 million per year afterwards, with an average annual population growth rate of 2 percent. As presented in Figure IX-1, the red horizontal line represents the maximum technically acceptable fee. Although the County may charge the maximum amount of transportation impact fee calculated, if the estimated levels of non-impact fee funding continue to be available, the County could adopt the impact fee at approximately 90 percent for all land uses and continue to maintain the adopted LOS standard. Alternatively, if the County adopts the residential land uses at 100 percent, the fees for non- residential land uses could be reduced by up to 55 percent (or adopted at 45 percent) to maintain the adopted LOS standard. As mentioned previously, the level of discount is more of a policy decision and could be at any level between the minimum levels calculated in this section and 100 percent. Figure IX-1 Transportation Impact Fee—Affordable Growth Strategy Adopted LOS Standard 120% _._._----- __ .----- ------ - -- ------- -- ----- -- --------- 100% 90% -� 80% --- ------ ---- 0 60% ----- 8-... .__.. ---------- ----- �Annual Growth �--------- -----_..-------—--------- --- 40% - ---- ------------- ----------------------------------..---_-------------------------•--------- Total Cost 20% — --- -.- Maximum Impact Fee LOS Curve 0% - 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% 10.00% Annual Growth Rate Table IX-8 presents discounted impact fee schedule. Tindale-Oliver&Associates, Inc. Indian River County June 2014 123 Impact Fee Update Study 15%