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Comprehensive Plan Capital Improvements Element <br />Source: Indian River County Office of Management and Budget <br />As shown in table 6.9, the county has a Municipal Service Taxing Unit (MSTU) and an emergency <br />services district, each with a separate millage. <br />Chanizes to the Capital Improvements Proaram <br />Overall, County revenue sources except "Other Sources" are expected to increase at a total rate of <br />10.38% from 2022/23 through Fiscal Year 2026/27 and all County revenue sources except for <br />Judgements, Fines & Forfeitures are projected to be above what was previously forecasted in the prior <br />year's Capital Improvements Program. With respect to the "Other Sources" funds, the decreasing <br />yearly amount is due to uncertainty in grant funds, as that funding source is dependent on a number of <br />factors including but not limited to economic conditions, and the competitiveness of grant <br />applications. <br />With this year's update, some projects have had their timeframes extended and some have had their <br />funding sources changed as priorities have shifted, and projects previously underfunded have been <br />designated to receive additional projected funding from sources that have become available. This <br />includes projected increased revenue from assessments and user fees, gas taxes, various impact fees, <br />and developer funded construction projects due to projected increased development activity and <br />continually improving market conditions. While some project time frames have been extended, none <br />of the extensions will impact development project concurrency reservations. <br />By extending the timeframe of transportation projects, the County can utilize its limited resources to <br />complete priority concurrency related projects within the overall capital improvements program. In <br />effect, the County needs to delay some projects so that other projects will remain fundable and so that <br />additional priority projects maybe funded. By funding necessary projects and other priority projects, <br />and by extending the time frames for other projects, the County is maintaining a financially feasible <br />capital improvements element. <br />As allowed by state law, the County can consider the additional capacity to be produced by those <br />anticipated nearer term roadway improvement projects as being available now for concurrency <br />purposes. As such, a development project impacting a deficient link can proceed despite the deficient <br />link, where a roadway improvement project for the deficient link will be under construction no later <br />than three years after issuance of the first building permit for the development project. <br />Needs Assessment' <br />Based on public facility requirements identified in the other comprehensive plan elements, this needs <br />assessment identifies the capital improvements required to provide sufficient infrastructure to meet <br />proposed levels of service for existing and new development. For purposes of the CIE, a capital <br />improvement is a substantial facility (land, building or major equipment) that costs at least $100,000 <br />and may be paid for in phases. <br />Community Development Department Indian River County <br />Adopted December _, 2022, Ordinance 2022- 32 <br />251 <br />