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Indian River County 1 Impact Fee Update Study <br />Table V-10 <br />Net Library Facilities Impact Cost <br />Impact Revenue <br />Calculation Step <br />Cost Credits <br />Impact Cost <br />Building and Land Cost per Resident (1) <br />$141.38 <br />Library Materials Cost per Resident (2) <br />$172.80 <br />Library Equipment Cost per Resident (3) <br />$1.99 <br />Total Impact Cost (4) <br />$316.17 <br />Revenue Credit <br />Average Annual Capital Expansion Credit per Resident(5) <br />$0.34 <br />Capitalization Rate <br />2.5% <br />Capitalization Period (in years) <br />25 <br />Capital Expansion Credit per Resident(6) <br />$6.26 <br />Net Impact Cost <br />Net Impact Cost per Resident (7) <br />I $309.91 <br />(1) Source: Table V-7 <br />(2) Source: Table V-8 <br />3) Source: Table V-8 <br />(4) The sum of building, land, materials, and equipment costs (Items 1, 2, and 3) <br />(5) Source: Table V-9 <br />(6) Source: The present value of the capital improvement credit per functional resident <br />(Item 2) at a discount rate of 2.5% with a capitalization period of 25 years. The discount <br />rate was provided by Indian River County. <br />(7) Total impact cost per resident (Item 4) less total credit per resident (Item 5) <br />Calculated Library Facilities Impact Fee Schedule <br />The calculated library impact fee for each residential land use is presented in Table V-11. <br />The net impact cost per resident calculated in the previous section is applied to the average <br />persons per unit by land use. The resulting total impact fees per dwelling unit range from <br />$381 for the multi -family residential land use to $781 for single family land use with 2,500 <br />square feet or more space. <br />Tindale -Oliver & Associates, Inc. Indian River County <br />June 2014 59 Impact Fee Update Study <br />g -1 <br />