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• <br />• <br />• <br />Indian River County 1 Impact Fee Update Study <br />Net Parks & Recreation Facilities Impact Cost <br />The net parks and recreation impact fee per resident is the difference between the cost <br />component and the credit component. Table IX -8 summarizes the calculation of the net <br />parks and recreation cost per resident for both neighborhood/community and regional <br />parks. <br />The first section of Table IX -8 identifies the total impact cost as $869 per resident for all <br />parks. The second section of the table identifies the, re enue credits for the parks and <br />recreation impact fee, totaling approximately $34 forralfrparks. <br />The net impact cost per resident is the differentffbetween the totalyimpact cost and the total <br />revenue credit per resident. This results in-anet impact cost of $836 per resident for all <br />parks. <br />No Impact Cost per Resident <br />(1) Source: Table IX -6 <br />(2) Source: Table IX -7 <br />(3) Source: The present valuesof the capital improvement credit per resident (Item 2) at a discount rate of <br />2.5% with a capitalization period of 5 years for sales tax expenditures and 25 years for general fund & <br />grant expenditures. <br />(4) Total impact cost per resident (Item 1) less the total revenue credit per resident (Item 3) <br />Tindale -Oliver & Associates, Inc. <br />January 2014 <br />Indian River County <br />97 Impact Fee Update Study <br />_- __- T - - <br />-- <br />TRevenue <br />Im act <br />p <br />Credits <br />I Calculation Step <br />_ <br />Cost ; <br />+ <br />i <br />Sales Tax <br />General Fund <br />& Grants <br />Total I <br />- <br />_1 <br />Impact Cost <br />4. ; <br />Total Impact <br />Cost <br />(i) ,,a Ng <br />per`Resident .\ :1 <br />, $869.24 <br />Revenue Credit - ��S ;;� .<... <br />Avg <br />AnnualiCapita <br />resa, <br />.:Expansion&Credit <br />per Resident �z) <br />$6.31 <br />$0.24 <br />Capitalization <br />Rate t .. <br />2.5% <br />2.5% <br />Capitalization <br />-ea_ <br />Period (in vears)_t.. <br />5 <br />25 <br />Capital <br />Expansion <br />Credit per p <br />$29.32 <br />$4.42 <br />$33.74 <br />Net Impact Cos <br />Net Impact <br />Cos`°p <br />tResident(°) `;; <br />$835.50 <br />(1) Source: Table IX -6 <br />(2) Source: Table IX -7 <br />(3) Source: The present valuesof the capital improvement credit per resident (Item 2) at a discount rate of <br />2.5% with a capitalization period of 5 years for sales tax expenditures and 25 years for general fund & <br />grant expenditures. <br />(4) Total impact cost per resident (Item 1) less the total revenue credit per resident (Item 3) <br />Tindale -Oliver & Associates, Inc. <br />January 2014 <br />Indian River County <br />97 Impact Fee Update Study <br />