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Indian River County I Impact Fee Update Study <br />Affordable Growth Strategy <br />Based on the data shown in Table V-9, the County uses approximately $50,000 per year of <br />non -impact fee funding for library capacity projects. During the next 25 years, Indian River <br />County is expected to grow at an average annual rate of 1.4 percent. Figure V-1 presents <br />how impact fee levels would change over time with different growth rates. As shown, the <br />red horizontal line represents the maximum impact fee calculated above. This level is <br />considered the investment needed to maintain the current LOS. Given that the available <br />non -impact fee funding for library capital facilities is very limited, the County needs most of <br />the impact fee (approximately 95 percent) to maintain the adopted LOS standards used to <br />calculate the impact fee. In addition, library impact fees are charged only to residential land <br />uses and the County's primary focus at this time is to provide some impact fee relief to non- <br />residential land uses. <br />120% -_ <br />100% - <br />80%-107 - <br />0 <br />60% <br />t- <br />40% - <br />20% <br />0% <br />Figure V-1 <br />Library Impact Fee — Affordable Growth Approach <br />95% <br />IRC Average <br />Annual Growth <br />- Total Cost <br />—Maximum Impact Fee <br />- LOS Curve <br />0.00% 1.00% 2.00% 3.00% 4.00% S.00% 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 61 Impact Fee Update Study <br />44 <br />