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Indian River County I Impact Fee Update Study <br /> Net Public Buildings Impact Cost <br /> The net impact fee per functional resident is the difference between the Cost Component <br /> and the Credit Component. Table IV-6 presents the calculation of the net public buildings <br /> facilities impact cost per functional resident. <br /> The first section of Table IV-6 identifies the total impact cost as $504 per functional <br /> resident. The second section of the table identifies the capital expandion expenditure <br /> credits for the public buildings facilities impact fee. <br /> The net impact cost per functional resident (third section of the table) is the difference <br /> between the total impact cost per functional resident of $504 and the total revenue credit <br /> of $24 per functional resident. The result is a net impact cost of $480 per functional <br /> resident,which also represents the relevant LOS measure for impact fee purposes. <br /> Table IV-6 <br /> Net Public Building Impact Cost per Functional Resident <br /> Revenue Credits <br /> Impact Court <br /> Calculation Step Cost SalesTax Facility Total <br /> Surcharge <br /> Impact Cost <br /> Total Impact Cost per Functional Resident�'� $503.87 <br /> Revenue Credit <br /> Avg Annual Capital Expansion Credit Amount per Functional Resident(Z) $4.94 $0.18 <br /> Capitalization Rate 2.5% 2.5% <br /> Capitalization Period(in years) 5 5 <br /> Capital Expansion Credit per Resident�3� $22.95 $0.84 $23.79 <br /> Net Impact Cost <br /> Net Impact Cost per Functional Resident <br /> �4� <br /> (1) Source: Table IV-4 <br /> (2) Source: Table IV-5 <br /> (3) Average annual capital improvement credit per functional resident(Item 2)over a capitalization rate of <br /> 2.5%for 5 years for sales tax and the court facility surcharge. The estimated discount rate is provided by <br /> Indian River County. <br /> (4) Total cost per resident(Item 1)less the total credit per resident(Item 3) <br /> Calculated Public Buildings Impact Fee Schedule <br /> Based on the analysis conducted in this section, a public buildings impact fee schedule was <br /> developed for residential and nonresidential land uses and is illustrated in Table IV-7. <br /> Tindale-Oliver&Associates, Inc. Indian River County <br /> June 2014 42 Impact Fee Update Study <br /> 77 <br />