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Indian River County 1 Impact Fee Update Study <br />Capital Improvement Credit <br />Table V-9 summarizes the library related capital expansion projects that are funded by state <br />grants. The table includes recent expenditures for the years 2008 through 2017. The <br />average annual capital expansion expenditure during this five-year period is $0.34 per <br />resident. This figure is calculated by dividing the average annual total capital expenditure <br />amount for the ten-year period by the County's average population during the same time <br />period. <br />Table V-9 <br />Historical Library Capital Expansion Funding Sources <br />Fiscal Year <br />Construction of Brackett Library: <br />State Library <br />Grant(1) <br />FY 2008 <br />$0 <br />FY 2009 <br />$300,000 <br />FY 2010 <br />$200,000 <br />FY 2011- FY 2017 <br />Total <br />$500,000 <br />Average Annual Capacity Expansion Expenditures1�1 <br />$50,000 <br />Average Annual Population(3) <br />$148,070 <br />Capital Expansion Credit per Resident(4) <br />$0.34 <br />(1) Source: Indian River County <br />(2) Average expenditure per year <br />(3) Source: Appendix A, Table A-1 <br />(4) Average annual capacity expansion expenditures (Item 2) divided by the <br />average annual population (Item 3) <br />Net Library Facilities Impact Cost <br />The net impact fee per residence is the difference between the cost component and the <br />credit component. Table V-10 summarizes the calculation of the net library impact cost per <br />resident, which reflects the relevant LOS for impact fee calculation purposes. <br />Tindale -Oliver & Associates, Inc. Indian River County <br />June 2014 58 Impact Fee Update Study <br />q3 <br />