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Comprehensive Plan Capital Improvements Element
<br />Special Assessment revenue represented 0.18% of county funds for FY 2019/20. Figure 6.4 displays
<br />the revenue collected by Indian River County through special assessments over the last six fiscal
<br />years. During that time period, revenue from special assessments decreased by 30.22%.
<br />Impact Fees
<br />An impact fee is a one-time charge, fee, or
<br />assessment levied as a condition of subdivision or
<br />site plan approval, building permit issuance, or
<br />other development or construction approval when
<br />the revenues collected are intended to fund the costs
<br />of capital improvements for public facilities.
<br />Since 1986, Indian River County has levied traffic
<br />impact fees on new development projects. In June
<br />of 2005, Indian River County began to levy 8 new
<br />impact fees. At the same time, the County increased
<br />the existing traffic impact fee rates. The nine
<br />impact fees include: transportation, fire/emergency
<br />services, parks and recreation, educational facilities,
<br />solid waste facilities, correctional facilities, law
<br />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 fees
<br />until March 31, 2015 or until the County could complete its most recent impact fee review and adopt
<br />a new impact fee schedule. By early April 2014 the County had completed the nonresidential portion
<br />of its impact fee review and on April 22, 2014 the Board of County Commissioners adopted a
<br />revised reduced nonresidential impact fee schedule with an effective date of May 5, 2014. The
<br />residential impact fee review was completed in September of 2014 and a revised residential impact
<br />Community Development Department
<br />Adopted December _ 2021, Ordinance 2021 -
<br />Indian River County
<br />:i
<br />136
<br />Figure 6.5: Impact Fee Revenue by FY
<br />$8,000
<br />$7,245 $7,557 $7,501
<br />$7,000
<br />$6,262
<br />$6,0005,281
<br />$5,704
<br />$5,704
<br />$5,000
<br />$4,000
<br />$3,000
<br />$2,000
<br />$1,000
<br />$-
<br />14/15 15/16 16/17 17/18 18/19 19/20
<br />• Revenue (in thousands)
<br />Source: Indian River County Finance Department
<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 fees
<br />until March 31, 2015 or until the County could complete its most recent impact fee review and adopt
<br />a new impact fee schedule. By early April 2014 the County had completed the nonresidential portion
<br />of its impact fee review and on April 22, 2014 the Board of County Commissioners adopted a
<br />revised reduced nonresidential impact fee schedule with an effective date of May 5, 2014. The
<br />residential impact fee review was completed in September of 2014 and a revised residential impact
<br />Community Development Department
<br />Adopted December _ 2021, Ordinance 2021 -
<br />Indian River County
<br />:i
<br />136
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