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Indian River County 1 Impact Fee Update Study <br />Affordable Growth Strategy <br />Based on the data shown in Table IV -5, the County will use $694,000 per year of sales tax <br />revenues for the next five years. In addition, the County uses approximately $25,000 per <br />year of recurring non -impact fee funding for capacity projects. During the next 25 years, <br />Indian River County is expected to grow at an average annual rate of 1.4 percent. Figure IV - <br />1 presents how impact fee levels would change over time with different growth rates. As <br />shown, the red horizontal line represents the maximum technically acceptable fee. This <br />level is compared to investment needed to maintain the current LOS. Although the County <br />may charge the maximum amount of public buildings impact fee calculated, if the historical <br />levels of non -impact fee funding were to be continued, the County could adopt the impact <br />fee at approximately 90 percent for all land uses and continue to maintain the adopted LOS <br />standard used in the calculations. If the County decides to charge the residential land uses <br />the full calculated fee (at 100 percent), the fee adoption rate for non-residential land could <br />be reduced to 52 percent and still maintain the adopted LOS standard. As mentioned <br />previously, these calculations assume that the sales tax will not be re -adopted in 2019. If <br />the sales tax is re -adopted in 2019 or another revenue source becomes available for public <br />buildings capital projects, these calculations need to be revised. Finally, the level of <br />discount is a policy decision and could be at any level between the minimum levels <br />calculated in this section and 100 percent and still maintain the adopted LOS standard. <br />10035 <br />80% <br />60% <br />40% <br />20% <br />Figure IV -1 <br />Public Buildings Impact Fee — Affordable Growth Approach <br />90% <br />IRC Average <br />Annual <br />nualGrowth <br />—Total Cost <br />- Maximum Impact Fee - <br />- LOS Curve <br />0% J 11 1 <br />0.00% 1.00% 2.00% 3.00% 4.00% 5.0096 6.00% 7.00% 8.00% 9.00% 10.00% <br />Annual Growth Rate <br />Tindale -Oliver & Associates, Inc. Indian River County <br />June 2014 44 Impact Fee Update Study <br />7q <br />