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Indian River County 1 Impact Fee Update Study IX. Transportation Indian River County's Transportation Impact Fee Ordinance was most recently updated in 2009 to assist the County in providing adequate transportation facilities for expected growth. This section of the impact fee report provides the results of the transportation impact fee analysis and consists of the following sections: • Demand Component • Cost Component • Credit Component • Calculated Transportation Impact Fee Schedule • Affordable Growth Strategy • Staff Recommended Fee Rate • Transportation Impact Fee Schedule Comparison As in the case of other impact fee program areas, the methodology used for the transportation impact fee study follows a consumption -based impact fee approach, in which new development is charged based upon the proportion of vehicle -miles of travel (VMT) that each unit of new development is expected to consume of a lane mile of roadway network. Included in this document is the necessary support material used in the calculation of the transportation impact fee. The general equation used to compute the impact fee for a given land use is: [Demand x Cost] — Credit = Fee The demand for travel placed on the transportation system is expressed in units of VMT (daily vehicle -trip generation rate times the trip length times the percent new trips [of total trips]) for each land use contained in the impact fee schedule. The trip generation is expressed in average daily rates since new development consumes trips on a daily basis. The cost of building new capacity typically is expressed in units of dollars per vehicle mile or lane mile of roadway capacity. The credit is an estimate of the future non -impact fee revenues generated by new development that are allocated to transportation capacity expansion construction projects. Thus, the impact fee is an "up front" payment for a Tindale -Oliver & Associates, Inc. Indian River County June 2014 105 Impact Fee Update Study 1140