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Indian River County Impact Fee Update Study <br /> Table V-10 <br /> Net Library Facilities Impact Cost <br /> Calculation Step Impact Revenuel <br /> Cost Credits <br /> Impact Cost <br /> Building and Land Cost per Resident hl $141.38 <br /> Library Materials Cost per Resident(2) $172.80 <br /> Library Equipment Cost per Resident(3) 1.99 <br /> Total Impact Cost(4) $316.17 <br /> Revenue Credit <br /> Average Annual Capital Expansion Credit per Resident(5) $0.34 <br /> Capitalization Rate 2.5% <br /> Capitalization Period (in years) 25 <br /> Capital Expansion Credit per Resident(6) 1 1 $6.26 <br /> Net Impact Cost <br /> Net Impact Cost per Resident(') $309.91 <br /> (1) Source:Table V-7 <br /> (2) Source:Table V-8 <br /> (3) Source:Table V-8 <br /> (4) The sum of building,land,materials,and equipment costs(Items 1,2,and 3) <br /> (5) Source:Table V-9 <br /> (6) Source:The present value of the capital improvement credit per functional resident <br /> (Item 2)at a discount rate of 2.5%with a capitalization period of 25 years. The discount <br /> rate was provided by Indian River County. <br /> (7) Total impact cost per resident(Item 4)less total credit per resident(Item 5) <br /> Calculated Library Facilities Impact Fee Schedule <br /> The calculated library impact fee for each residential land use is presented in Table V-11. <br /> The net impact cost per resident calculated in the previous section is applied to the average <br /> persons per unit by land use. The resulting total impact fees per dwelling unit range from <br /> $381 for the multi-family residential land use to $781 for single family land use with 2,500 <br /> square feet or more space. <br /> Tindale-Oliver&Associates, Inc. Indian River County <br /> June 2014 59 Impact Fee Update Study <br /> g� <br />