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Special Assessment revenue represented 0.23%of county funds for FY 2015/16. Figure 6.4 displays
<br /> the revenue collected by Indian River County through special assessments over the last six fiscal
<br /> years.
<br /> • Impact Fees Figure 6.5: Impact Fee Revenue by FY
<br /> An impact fee is a one-time charge, fee, or $7,000 $6,262 a
<br /> assessment levied as a condition of $6,000
<br /> subdivision or site plan approval, building $5'281 j '
<br /> permit issuance, or other development or $5,000 $4,218 ■ '
<br /> construction approval when the revenues $4,000 ■ . '
<br /> collected are intended to fund the costs of $3,215
<br /> capital improvements for public facilities. $3,000 IiiipillE MEI
<br /> $2,000 1_21,741
<br /> Since 1986, Indian River County has levied $1,000 ■ ■ ■ ■ '
<br /> traffic impact fees on new development ' ■ ■ ■ ■ ■ 111projects.In June of 2005,Indian River County $-
<br /> began to levy 8 new impact fees. At the same 10/11 11/12 12/13 13/14 14/15 15/16
<br /> time,the County increased the existing traffic •Revenue(in thousands)
<br /> impact fee rates. The nine impact fees
<br /> include:traffic,emergency services,parks and Source: Indian RiverCountyFinance Department
<br /> recreation,public schools,solid waste,correctional facilities,law enforcement,libraries,and public
<br /> buildings.
<br /> On March 3, 2009, the Board of County Commissioners considered several alternatives to reduce
<br /> impact fees for the purpose of stimulating economic development in the county. After discussion,
<br /> the Board decided to suspend collection of five of the county's nine impact fees for six months.The
<br /> five suspended impact fees were: emergency services,correctional facilities,public buildings, law
<br /> enforcement, and solid waste. On September 22,2009 and again on March 16,2010,the Board of
<br /> County Commissioners voted to further extend the suspension of the five impact fees. At its March
<br /> 16,2010 vote,the Board of County Commissioners extended the suspension of the five impact fees
<br /> to March 31, 2011. On March 15, 2011 and again on March 13, 2012, the Board of County
<br /> Commissioners re-evaluated the impact fee suspension and ultimately voted to continue suspending
<br /> three of the five previously suspended impact fees. Those three fees were: public buildings,
<br /> correctional facilities, and solid waste facilities. The March 13, 2012 vote of the Board of County
<br /> Commissioners suspended the three fees until March 31, 2014.
<br /> On March 11, 2014 the Board of County Commissioners voted to suspend the same three impact
<br /> fees until March 31,2015 or until the County could complete its most recent impact fee review and
<br /> adopt a new impact fee schedule. By early April 2014 the County had completed the nonresidential
<br /> portion of its impact fee review and on April 22,2014 the Board of County Commissioners adopted
<br /> a revised reduced nonresidential impact fee schedule with an effective date of May 5, 2014. The
<br /> Community Development Department Indian River County
<br /> Adopted December 5,2017,Ordinance 2017-015 5
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