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Indian River County(Impact Fee update Study
<br /> Table X-6
<br /> Revenue Credit
<br /> Project 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total
<br /> CO&'DS/PECO(l):
<br /> Dodgertown Elementary--Addition of Cafeteria _ _ _ 1 167 649
<br /> Subtotal-State Revenues $0 $1,167,6491 $1,167,649
<br /> 1.5-Mit Local Capital Tax(1):
<br /> Sebastian River High School--Addition of ROTC Facility $1,079,156 - $1,079,156
<br /> Storm Grove Middle School--New School $453,668 $453,668
<br /> Dodgertown Elementary--Addition of Cafeteria - $191,023 $191,023
<br /> Support Services Complex--New Building $3,160,329 $3,160,329
<br /> Treasure Coast Elementary Expansion $3,157,055 $3,157,055
<br /> Citrus Elementary Expansion $3,000,000 $2,300,000 $5,300,000
<br /> Sebastian River High School--Freshman Learning Ctr Classroom Bldg $3,321,009 - _ _ = $3,321,0091
<br /> Subtotal-1.5-Mil Local $1,079,156 $453,668 $0 $191,023 $6,481,3381 $0 $3,157,055 00,00
<br /> $3,000,000 $2,30 $16,662,240
<br /> Classroom for Kids/Other('):
<br /> Storm Grove Middle School--New School $8,315,310 $8,315,310
<br /> Dodgertown Elementary--Addition of Cafeteria $1,974,793 - $1,974,793
<br /> Support Services Complex--New Building $198,821 $198,821
<br /> Sebastian River High School--Freshman Learning Ctr Classroom Bldg = = 662 850 662 850
<br /> Subtotal-Classroom for Kids/Other $8,315,310 $1,974,793 $861,671 $11,151,774
<br /> Total Expenditures $1,079,1561 $8,768,9781 $0 $3,333,4651 $7,343,009 $3,000,01DO1 $2,300,000 $28,981,663
<br /> Average Annual Expenditures(z) $2,898,166
<br /> Average Enrollment(') 15,582
<br /> Revenue Credit perStudent(9) $186
<br /> Capitalization Rate(5) 2.5%
<br /> Capitalization Period,Years(6) 25
<br /> Present Value of Capital Improvement Revenue Credit per5tudent(7) $3,427
<br /> (1) Source:Indian River County School District
<br /> (2) Total expenditures divided by 10 years to calculate the average annual expenditures
<br /> (3) Source:Table X-1
<br /> (4) Average annual expenditures(Item 2)divided by the average enrollment(Item 3)
<br /> (5) Interest rate the District is likely to pay for future bonds,estimated based on discussions with the District and County representatives
<br /> (6) Time period after which major repairs are needed
<br /> (7) Present value of revenue credit per student(Item 4)at 2.5%interest rate(Item 5)over a 25-year capitalization period(Item 6)
<br /> Tindale-Oliver&Associates,Inc. Indian River County
<br /> June 2014 137 Impact Fee Update Study
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