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Indian River County 1 Impact Fee Update Study <br />Table V-12 <br />Calculated Library Facilities Impact Fee Schedule — Affordable Growth <br />Residential Land Use <br />Affordable <br />Growth <br />Adoption <br />Rate(' <br />Total 2009 <br />Impact Adopted <br />Fee(2) <br />Fee(3) <br />Percent <br />Change(4) <br />Residential <br />Single Family (less than 1,000sf) <br />96% <br />$587 <br />$430 <br />36.5% <br />Single Family (less than 1,500sf) <br />96% <br />$631 <br />$430 <br />46.7% <br />Single Family (1,500 to 2,499 sf) <br />96% <br />$672 <br />$483 <br />39.1% <br />Single Family (2,500sf or greater) <br />96% <br />$750 <br />$524 <br />43.1% <br />Multi-Family/Accessory Unit <br />96% <br />$381 <br />$285 <br />33.7% <br />Mobile Home/RV Park (tied down) <br />96% <br />$428 <br />$349 <br />22.6% <br />(1) Calculated based on the average annual growth rate of 1.4% and non -impact fee funding of $50,000 <br />per year. <br />(2) Source: Calculated impact fee from Table V-11 multiplied by the affordable growth adoption rate <br />(Item 1) <br />(3) Source: Indian River County. Fees shown do not include the administrative fee. <br />(4) Percent change from the current adopted fee (Item 2) to the total impact fee (Item 1) <br />Staff Recommended Fee Rate <br />Based on a review of capital needs in the near future, the County staff recommends <br />suspension of library impact fees until the next technical update study. At that time, the <br />capital expansion needs for libraries will be reviewed and the suspension may need to be <br />lifted. <br />Library Facilities Impact Fee Schedule Comparison <br />As part of the work effort in updating Indian River County's library impact fee program, a <br />comparison of library facilities impact fee schedules was completed for other Florida <br />counties. Table V-13 presents this comparison. As presented, Indian River County's <br />calculated fee is higher than fees adopted by other Counties, which reflects the high <br />investment levels to the County's library facilities. <br />Tindale -Oliver & Associates, Inc. Indian River County <br />June 2014 62 Impact Fee Update Study <br />q7 <br />