|
improvements. Expenditures of special assessment revenue are restricted to public improvement
<br />projects that directly benefit the property owner or payee. For example, street paving assessment
<br />revenues must be spent on paving streets that directly benefit the payer of the assessment.
<br />Special Assessment revenue represented 0.33% of county funds for FY 2014/15 as shown in table
<br />6.1. Figure 6.4 displays the revenue collected by Indian River County through special assessments
<br />over the last six fiscal years.
<br />Impact Fees
<br />An impact fee is a one-time charge, fee, or
<br />assessment levied as a condition of
<br />subdivision or site plan approval, building
<br />permit issuance, or other development or
<br />construction approval when the revenues
<br />collected are intended to fund the costs of
<br />capital improvements for public facilities.
<br />Since 1986, Indian River County has levied
<br />traffic impact fees on new development
<br />projects. In June of 2005, Indian River
<br />County began to levy 8 new impact fees. At
<br />the same time, the County increased the
<br />existing traffic impact fee rates. The nine
<br />impact fees include: traffic, emergency
<br />services, parks and recreation, public schools,
<br />solid waste, correctional facilities, law
<br />enforcement, libraries, and public buildings.
<br />Figure 6.5: Impact Fee Revenue by FY
<br />$6,000 ----_.__
<br />$5,281
<br />$5,000
<br />$4,218
<br />$4,000
<br />$3, 215
<br />$3,000
<br />$2,2x8
<br />$2,000 $1,741
<br />$1,432
<br />$1,000
<br />$-
<br />09/10 10/11 11/12 12/13 13/14 14/15
<br />® Revenue (in thousands)
<br />Source: Indian River County Finance Department
<br />On March 3, 2009, the Board of County Commissioners considered several alternatives to reduce
<br />impact fees for the purpose of stimulating economic development in the county. After discussion,
<br />the Board decided to suspend collection of five of the county's nine impact fees for six months. The
<br />five suspended impact fees were: emergency services, correctional facilities, public buildings, law
<br />enforcement, and solid waste. On September 22, 2009 and again on March 16, 2010, the Board of
<br />County Commissioners voted to further extend the suspension of the five impact fees. At its March
<br />16, 2010 vote, the Board of County Commissioners extended the suspension of the five impact fees
<br />to March 31, 2011. On March 15, 2011 and again on March 13, 2012, the Board of County
<br />Commissioners re-evaluated the impact fee suspension and ultimately voted to continue suspending
<br />three of the five previously suspended impact fees. Those three fees were: public buildings,
<br />correctional facilities, and solid waste facilities. The March 13, 2012 vote of the Board of County
<br />Commissioners suspended the three fees until March 31, 2014.
<br />On March 11, 2014 the Board of County Commissioners voted to suspend the same three impact
<br />fees until March 31, 2015 or until the County could complete its most recent impact fee review and
<br />Community Development Department Indian River County
<br />Adopted , 2016, Ordinance 2016- 5
<br />
|