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Indian River County I Impact Fee Update Study Table D-3 County Gas Tax Equivalent Pennies(Sales Tax ONLY) Cost of Numberof Source from 1 (4) Projects Years Penny(3) Pennies Projected CIP Expenditures(FY 2014-2017)"' $59,458,414 4 $739,909 1 0.201 Historical County Expenditures(FY 2008-2013)(Z) $22,319,296 6 $739,9091 $0.050 Total $81,777,710 10 $739,909 $0.111 (1) Source:Table D-6 (2) Source:Table D-6 (3) Source:Table D-1 (4) Cost of projects divided by number of years divided by revenue from 1 penny(Item 3)divided by 100 State Gas Tax Expenditures In the calculation of the equivalent pennies of gas tax from the State, expenditures on roadway capacity expansion spanning a 10-year period (from FY 2009 to FY 2018) were reviewed. For calculation purposes, the 10-year period was broken into two increments; historical (FY 2009-2013) and future (FY 2014-2018). Information on historical projects' funding and the future year estimates was obtained from the MOT Work Programs and the County's FY 2014-2018 Transportation Improvement Program (TIP). The use of a 10-year period, for purposes of developing a State credit for roadway capacity expansion projects, results in a stable credit, as it accounts for the volatility in MOT spending in the county over short periods of time. The total cost of the capacity-adding projects for the five-year "historical" period and projected in the five-year Transportation Improvement Program are as follows: • FY 2009-2013 work plan equates to 20.5 pennies • FY 2014-2018 work plan equates to 10.5 pennies The combined weighted average over the 10-year period of state expenditure for capacity- adding roadway projects results in a total of 15.5 equivalent pennies, which is a slightly higher state credit than what is observed in most other counties. Table D-4 documents this calculation. The specific projects that were used in the equivalent penny calculations are summarized in Table D-7. Tindale-Oliver&Associates, Inc. Indian River County June 2014 D-4 Impact Fee Update Study Z38