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Indian River County 1 Impact Fee Update Study <br />Calculated Educational Facilities Impact Fee Schedule <br />To determine the calculated school impact fee for each residential land use under each fee <br />schedule scenario, the net impact cost per student is multiplied by the student generation <br />rate. The resulting impact fee levels are presented in Table X-10. <br />Table X-10 <br />Calculated Educational Facilities Impact Fee Schedule <br />Land Use <br />Students <br />Unit <br />per Unit(1) <br />Net Impact <br />Cost per <br />Student(2) <br />Total Impact <br />Fee (3) <br />Current <br />Adopted <br />Fee(4) <br />Percent <br />Changes) <br />Single Family <br />Multi -Family <br />Mobile Home <br />du <br />du <br />du <br />0.252 <br />0.099 <br />0.152 <br />$24,114 <br />$24,114 <br />$24,114 <br />$6,077 <br />$2,387 <br />$3,665 <br />$1,756 <br />$500 <br />$623 <br />246% <br />377% <br />488% <br />(1) Source: Table X-9 <br />(2) Source: Table X-8 <br />(3) Students per unit (Item 1) multiplied by the net impact cost per student (Item 2) <br />(4) Source: Indian River County Planning Division <br />(5) Percent change from the current adopted fee (Item 6) to the total impact fee (Item 5) <br />Affordable Growth Strategy <br />Based on the data shown in Tables X-6 and X-7, the School District uses approximately $3 <br />million per year of non -impact fee funding for school capacity projects and $12 million per <br />year to pay off the debt service, for a total of $15 million per year. During the next 25 years, <br />Indian River County is expected to grow at an average annual rate of 1.4 percent. Figure X-1 <br />presents how impact fee levels would change over time with different growth rates. As <br />shown, the red horizontal line represents the maximum legally acceptable fee. This level is <br />compared investment needed to maintain the current LOS. Given that the available non- <br />impact fee funding, the District could adopt the impact fee at approximately 28 percent and <br />still maintain the current LOS as long as the non -impact fee contributions indicated above <br />continue and the annual growth rate remains at or below 1.4 percent. However, with the <br />School Board's input, the County has the legal right to adopt the fees at any level less than <br />the full calculated amount shown in Table X-10. It is important to note this is a countywide - <br />calculation and does not take into consideration capacity needs in sub -areas of the county, <br />such as Fellsmere and North County, where schools are overcrowded. <br />Tindale -Oliver & Associates, Inc. Indian River County <br />June 2014 141 Impact Fee Update Study <br />(74 <br />