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water, sewer, and drainage improvements. Expenditures of special assessment revenue are restricted
<br />to public improvement projects that directly benefit the property owner or payee. For example,
<br />street paving assessment revenues must be spent on paving streets that directly benefit the payer of
<br />the assessment.
<br />Special Assessment revenue represented 0.23-0,;0.20% of county funds for FY ''�/17FY 2017/18.
<br />Figure 6.4 displays the revenue collected by Indian River County through special assessments over
<br />the last six fiscal years. During that time period, revenue from special assessments increased by
<br />13.51%..
<br />Impact Fees
<br />An impact fee is a one-time charge, fee, or
<br />assessment levied as a condition of
<br />subdivision or site plan approval, building
<br />permit issuance, or other development or
<br />construction approval when the revenues
<br />collected are intended to fund the costs of
<br />capital improvements for public facilities.
<br />Since 1986, Indian River County has
<br />levied traffic impact fees on new
<br />development projects. In June of 2005,
<br />Indian River County began to levy 8 new
<br />impact fees. At the same time, the County
<br />increased the existing traffic impact fee
<br />rates The nine im act fees include•
<br />I �I
<br />p
<br />traffic, emergency services, parks and recreation, public schools, solid waste, correctional facilities,
<br />law enforcement, libraries, and public 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
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<br />Figure 6.5: Impact Fee Revenue by FY
<br />$8,000
<br />$7,000
<br />$6,000
<br />$5,000
<br />$4,000
<br />$3,000
<br />$2,000
<br />$1,000
<br />$-
<br />12/ 13 13/14 14/15 15/16 16/17 17/18
<br />® Revenue (in thousands)
<br />Source: Indian River County Finance Department
<br />I �I
<br />p
<br />traffic, emergency services, parks and recreation, public schools, solid waste, correctional facilities,
<br />law enforcement, libraries, and public 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 />257
<br />p
<br />traffic, emergency services, parks and recreation, public schools, solid waste, correctional facilities,
<br />law enforcement, libraries, and public 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 />257
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