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Indian River County 1 Impact Fee Update Study
<br />Table X-6
<br />Revenue Credit
<br />Project 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total
<br />CO & DS/PECO (4:
<br />Dodgertown Elementary --Addition of Cafeteria
<br />-
<br />$1,167,649
<br />$1,167,649
<br />Subtotal - State Revenues
<br />_
<br />-
<br />_
<br />-
<br />$0
<br />$1,167,649
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />$1,167,649
<br />L5 -Mil Local Capital Tax"):
<br />Sebastian River High School -- Addition of ROTC Facility
<br />51,079,156
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />$1,079,156
<br />Storm Grove Middle School -- New School
<br />5453,668
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />5453,668
<br />Dodgertown Elementary -- Addition of Cafeteria
<br />-
<br />-
<br />-
<br />5191,023
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />5191,023
<br />Support Services Complex -- New Building
<br />-
<br />-
<br />-
<br />-
<br />53,160,329
<br />-
<br />-
<br />-
<br />-
<br />-
<br />53,160,329
<br />Treasure Coast Elementary Expansion
<br />I
<br />$3,157,055
<br />$3,157,055
<br />Citrus Elementary Expansion
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />53,000,000
<br />52,300,000
<br />55,300,000
<br />Sebastian River High School -- Freshman Learning Ctr Classroom Bldg
<br />-
<br />-
<br />-
<br />-
<br />$3,321,009
<br />53,321,009
<br />Subtotal -L5 -Mil Local
<br />$1,079,156
<br />$453,668
<br />$0
<br />$191,023
<br />$6,481,338
<br />$0
<br />$3,157,055
<br />-
<br />53,000,000
<br />$2,300,000
<br />516,662,240
<br />Classroom for Kids/Otherrli:
<br />Storm Grove Middle School-- New School
<br />-
<br />58,315,310
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />58,315,310
<br />Dodgertown Elementary -- Addition of Cafeteria
<br />-
<br />-
<br />-
<br />$1,974,793
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />51,974,793
<br />Support Services Complex -- New Building
<br />-
<br />-
<br />-
<br />-
<br />5198,821
<br />-
<br />-
<br />-
<br />-
<br />-
<br />5198,821
<br />Sebastian River High School -- Freshman Learning Ctr Classroom Bldg;,
<br />;,
<br />662 850
<br />-
<br />-
<br />-
<br />--.
<br />$662,850
<br />Subtotal- Classroom for Kids/Other
<br />-
<br />$8,315,310
<br />-
<br />$1,974,793
<br />$861,671
<br />-
<br />-
<br />-
<br />-
<br />-
<br />$11,151,774
<br />Total Expenditures
<br />$1,079,156
<br />$8,768,978
<br />$0
<br />53,333,465
<br />$7,343,009
<br />-
<br />-
<br />-
<br />53,000,000
<br />$2,300,000
<br />$28,981,663
<br />Average Annual Expenditureslzl
<br />52,898,166
<br />Average Enrollment131
<br />15,582
<br />Revenue Credit per Student(4)
<br />$186
<br />Capitalization Rate(5)
<br />2.5%
<br />Capitalization Period, Years(6)
<br />25
<br />Present Value of Capital Improvement Revenue Credit per Student")
<br />$3,427
<br />(1) Source: Indian River County School District
<br />(2) Total expenditures divided by 10 years to calculate the average annual expenditures
<br />(3) Source: Table X-1
<br />(4) Average annual expenditures (Item 2) divided by the average enrollment (Item 3)
<br />(5) Interest rate the District is likely to pay for future bonds, estimated based on discussions with the District and County representatives
<br />(6) Time period after which major repairs are needed
<br />(7) Present value of revenue credit per student (Item 4) at 2.5% interest rate (Item 5) over a 25 -year capitalization period (Item 6)
<br />Tindale -Oliver & Associates, Inc.
<br />June 2014
<br />137
<br />Indian River County
<br />Impact Fee Update Study
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