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Indian River County I Impact Fee Update Study <br /> • County gas tax equivalent pennies <br /> • State gas tax expenditures <br /> County Gas Tax Equivalent Pennies <br /> A review of the County's historical roadway financing program (FY 2008-2013) and the <br /> Capital Improvement Plan (CIP) for FY 2014-2017 indicates that a combination of sales tax <br /> revenues, fuel tax revenues, impact fees, developer contributions, and grants are used to <br /> fund roadway capacity expansion projects. With the County's local option sales tax set to <br /> expire in 2019 and the re-adoption and dedication to transportation unknown, a sales tax <br /> credit was given only for programmed expenditures in the CIP. If the sales tax is re-adopted <br /> in 2019 or a different revenue source is allocated to transportation capacity to replace the <br /> sales tax revenues,these credit figures may need to be revised. <br /> As shown in Table D-2, Indian River County receives a credit of 5.6 pennies for the portion <br /> of non-impact fee revenues (excluding sales tax) dedicated to capacity expansion projects <br /> such as new road construction, lane additions, and intersection improvements. <br /> Table D-2 <br /> County Gas Tax Equivalent Pennies(Excluding Sales Tax) <br /> Cost of Number of Revenue Equivalent <br /> Source Projects Years from I Pennies(4) <br /> Penny(3) <br /> Projected CIP Expenditures(FY 2014-2017)(1) $18,612,373 4 $739,9091 $0.063 <br /> Historical County Expenditures(FY 2008-2013)(Z) $22,996,4161 6 $739,9091 $0.052 <br /> Total $41,608,789 10 $739,909 $0.056 <br /> (1) Source:Table D-5 <br /> (2) Source:Table D-5 <br /> (3) Source:Table D-1 <br /> (4) Cost of projects divided by number of years divided by revenue from 1 penny(Item 3)divided by 100 <br /> As shown in Table D-3, Indian River County receives a credit of 11.1 pennies for the portion <br /> of non-impact fee revenues (sales tax ONLY) dedicated to capacity expansion projects such <br /> as new road construction, lane additions, and intersection improvements. In the impact fee <br /> calculation, this credit will only be applied for five years, as the sales tax will not be <br /> considered a recurring revenue source for transportation capacity improvements. <br /> Tindale-Oliver&Associates, Inc. Indian River County <br /> June 2014 D-3 Impact Fee Update Study <br /> 237 <br />