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, BOOK iJ J F'AGE E Cost Component: The cost component of the traffic impact fee formula represents the cost of roadway capacity improvement projects. Costs that are factored into this component of the formula include design, right of way acquisition, and construction costs. Credit Component: The credit component of the traffic impact fee formula represents other revenue sources, such as local option fuel taxes and local option sales taxes; used for capacity producing transportation capital projects. The demand component is multiplied by the cost component to determine the overall impact of a project on the transportation network. Then, to account for other fees and taxes paid, a credit is subtracted. This formula is applied to each individual land use category fisted in the fee schedule. From the formula, a traffic impact fee rate is generated for each of the land use categories. Fee vs Tax Indian River County's traffic impact fee is not a tax; it is a fee. That distinction is important. While local governments may impose fees under their home tole powers, local governments may impose taxes only with specific legislative authorization. In establishing fees, however, local governments must comply with various criteria dictated by the courts. These criteria have evolved from court decisions on legal challenges to impact fee ordinances. Some of the most important criteria that must be incorporated in an impact fee ordinance are: ► The fee revenue must be used to meet a need created by new development; ► The amount of the fee must be directly proportional to the benefit derived by the feepayer, ► The funds derived from the fee must be earmarked for expenditures that relate to feepayers' benefits; and ► Feepayers must be given credit for any other taxes or fees that they pay where the proceeds of those taxes and fees are used to pay a portion of the cost of projects to be funded by the impact fee. Metropolitan Plannine Oreanization (MPO) Although Indian River County is the general purpose local government which currently imposes the countywide traffic impact fee, there is a separate government agency responsible for transportation planning in the county. That is the Indian River County Metropolitan Planning Organization (MPO). As the local agency responsible for planning and programming federal, state, and local transportation funds to construct, enhance, and maintain major roads, bridges, airports, and public transit facilities, the MPO has funds to conduct various transportation studies. For that reason, Indian River County requested that the MPO initiate a study to assess the county's current traffic impact fee ordinance. Since the MPO is an independent governmental entity with a countywide transportation focus, the MPO is the appropriate agency to assess the county's traffic impact fee ordinance. With a governing board comprised of elected officials from local governments within the county, the MPO provides a multi jurisdictional forum to address a countywide issue like the traffic impact fee ordinance. Following is the Indian River County MPO governing board voting composition. ► City of Fellsmere: 1 member ► Indian River County: 4 members ► Town of Indian River Shores: 1 member ► City of Sebastian: 1 member ► City of Vero Beach: 2 members Traffic Impact Fee Studv Process In the thirteen years since its adoption, the traffic impact fee ordinance and its development policies have not been revised other than for minor fee schedule modifications made in 1989. In the last few years, however, concerns have arisen regarding the current traffic impact fee ordinance. These concerns range from technical issues relating to the continued applicability of the data used to develop the fee schedule to the number and structure of the county's nine traffic impact fee benefit districts. To address these concerns, the Indian River County Metropolitan Planning Organization (MPO) contracted with the consulting firm of Tindale -Oliver & Associates of Tampa to update the traffic MAY 119 1999 W