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As a revenue producing device, a traffic impact fee is one of several revenue source options that may <br />be used to fund transportation capacity -producing improvements. Other funding sources that can <br />be used by local governments include state and federal funds, constitutional gas tax, county gas tax, <br />local option gas tax, local option sales tax, ad valorem property tax and others. <br />County long range transportation plans project that the total implementation cost of needed major <br />capacity producing roadway improvement projects over the next twenty years will be approximately <br />$220 million. Of this amount, it is projected that state and federal transportation revenues will <br />account for approximately $120 million. Approximately $100 million from local transportation <br />revenue sources will be needed to make up the difference. Traffic impact fees will account for <br />almost half of this amount. Other local revenue sources include those listed above. <br />There are, however, other transportation -related costs which must also be funded with local <br />revenues. These include road paving, traffic operations, intersection improvements, operation and <br />maintenance, safety improvements, system preservation activities, and reconstruction/replacement <br />costs for both the existing transportation network as well as future needed capacity producing <br />improvements. Therefore, an increased burden is placed on local revenue sources to pay for both <br />needed capacity producing improvements and for the other transportation -related costs listed above. <br />s <br />3 <br />cnu r{ <br />7 1 y <br />t <br />t , $ <br />fPtW �� i <br />8 <br />a 5 <br />use <br />d <br />9 ago <br />A <br />FIGURE 1 <br />Indian River County Original <br />Impact Fee B on efit D lstricts <br />Traffic Impact Fee Program Description <br />As adopted, the Indian River County traffic impact fee program is countywide in scope. <br />Consequently, fees are collected in each of the County's municipalities as well as the unincorporated <br />area Currently, nine traffic impact fee benefit districts exist. These are shown in figure 1. Fees <br />collected in a particular district must be spent on improvements in that benefit district. Fee revenue <br />may be spent only for capacity -producing improvements on arterial or collector roads. <br />Currently, impact fees vary among the nine existing benefit districts. In the current ordinance, the <br />impact fee schedule identifies the fee amount'by land use category by benefit district. For example, <br />the traffic impact fee for a single-family house in District V is $1,513. For a bank/financial office <br />in District V, the fee is $6,503 per 1,000 square feet. <br />The fee schedule in the traffic impact fee ordinance is based upon the County's adopted traffic <br />impact fee formula. A simplified version of that formula is shown below. Applied correctly, the <br />formula calculates the traffic impact fee rate for each land use listed in the traffic impact fee rate <br />schedule. <br />TIF Rate = (demand component) X (cost component) — (credit component) <br />Demand Component: The demand component of the traffic impact fee formula represents the traffic <br />impact generated by a land use. Factors that affect the demand component <br />include trip generation rate, trip length, and percent new trips. <br />MAY 119 1999 <br />25 <br />BOOK I - PAGE ' <br />