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>it� <br />Tab K& t <br />roject Approach & Project Schedule <br />This section of the proposal provides a brief <br />background review, followed-up with project <br />approach. <br />BACKGROUND REVIEW/ <br />UNDERSTANDING <br />Located on south central Florida's eastern coast, <br />Indian River County has a current population of <br />150,000. As shown in Figure 1 below, the County <br />experienced an average annual growth rate of <br />2.5% between 2000 and 2008. Similar to many <br />other communities, this growth rate decreased to <br />0.4% per year during the economic downturn <br />between 2009 and 2015. Since then, the <br />population growth rate reached 1.9% per year, <br />reflecting the recent recovery. Most of this growth <br />is occurring in unincorporated county while the <br />five municipalities, located mostly in the coastal <br />3.50% <br />3.00% <br />2.50% <br />2.00% <br />1.50% <br />1.00% <br />0.50% <br />areas of the county, accommodate almost 35% of <br />the population within 10% of the land area. <br />Similar to population growth trends, taxable value <br />per capita in Indian River County increased at an <br />average rate of 13% per year between 2000 and <br />2006. Between 2007 and 2013, the tax base per <br />capita declined. Over the past five years, the tax <br />base started to increase again. These fluctuations <br />in property tax revenues, shown in Figure 2 on the <br />next page, along with population growth make it <br />important for local governments to use alternative <br />revenue sources for government services. <br />To address the infrastructure costs associated <br />with new growth, Indian River County instituted a <br />countywide traffic impact fee program in 1986. <br />Due to the level of growth, the Board of County <br />Commissioners (BCC) in 2005, approved impact <br />Figure 1: Annual Population Growth Rate (2000-2018: 3 -yr Running Avg) <br />0.00% <br />o g o 0 0 0 0 0 <br />Source: BEER, Volume 51, Bulletin 180, January 2018 <br />N <br />TindaleMliver <br />INDIAN RIVER COUNTY I Impact Fee Update K & L -1 Attaohmi&lte2iver.com <br />` 1? <br />