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Indian River County I Impact Fee Update Study Calculated Educational Facilities Impact Fee Schedule To determine the calculated school impact fee for each residential land use under each fee schedule scenario, the net impact cost per student is multiplied by the student generation rate. The resulting impact fee levels are presented in Table X-10. Table X-10 Calculated Educational Facilities Impact Fee Schedule ImpactStudents Net Impact Total Land Use Unit (1) Cost per (3) Adopted (5) per Unit Student(2) Fee Fee(4) Change Residential: Single Family du 0.252 $24,114 $6,077 $1,756 246% Multi-Family du 0.099 $24,114 $2,387 $500 377% Mobile Home du 0.152 $24,114 $3,665 $623 488% (1) Source:Table X-9 (2) Source:Table X-8 (3) Students per unit(Item 1)multiplied by the net impact cost per student(Item 2) (4) Source: Indian River County Planning Division (5) Percent change from the current adopted fee(Item 6)to the total impact fee(Item 5) Affordable Growth Strategy Based on the data shown in Tables X-6 and X-7, the School District uses approximately $3 million per year of non-impact fee funding for school capacity projects and $12 million per year to pay off the debt service,for a total of$15 million per year. During the next 25 years, Indian River County is expected to grow at an average annual rate of 1.4 percent. Figure X-1 presents how impact fee levels would change over time with different growth rates. As shown, the red horizontal line represents the maximum legally acceptable fee. This level is compared investment needed to maintain the current LOS. Given that the available non- impact fee funding, the District could adopt the impact fee at approximately 28 percent and still maintain the current LOS as long as the non-impact fee contributions indicated above continue and the annual growth rate remains at or below 1.4 percent. However, with the School Board's input, the County has the legal right to adopt the fees at any level less than the full calculated amount shown in Table X-10. It is important to note this is a countywide- calculation and does not take into consideration capacity needs in sub-areas of the county, such as Fellsmere and North County, where schools are overcrowded. Tindale-Oliver&Associates, Inc. Indian River County June 2014 141 Impact Fee Update Study 174