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• <br />Indian River County 1 Impact Fee Update Study <br />revenue annually, which is within the range of what is observed in most other Florida <br />jurisdictions. <br />In summary, Indian River County contributes approximately 16.7 pennies toward roadway <br />capacity expansion projects, while the State spends an average of 15.5 pennies for state roadway <br />projects in Indian County. Therefore, a total of 32.2 pennies of credit are included in the impact <br />fee calculation to recognize the future capital revenue that is expected to be generated by new <br />development from all non -impact fee revenues, as shown in Table X-6. <br />Table X-6 <br />Equivalent Pennies of Gas Taxtl evenue <br />Equivalent <br />Pennies per <br />Gallon 1 <br />(1) Source: Appendix DTa�ble D2 �� <br />(2) Source: Appendix D Table D-3 (only)accounts‘fore5_ years of sales <br />tax<revenues) <br />(3) Source: Appendix D, Table D;4 <br />Present Worth Variables <br />Facility/Life <br />The "r:.oadway facility life <br />getway <br />reasonablelife of a roadway.° <br />eft <br />_f <br />.fir <br />inthe impact fee analysis is 25 years, which represents the <br />Interest Rate <br />This is the discount `rate .at which gasoline tax revenues might be bonded. It is used to compute <br />the present value of thecgasoline taxes generated by new development. The discount rate of 2.5 <br />percent was used in the transportation impact fee calculation based on the estimate obtained <br />from Indian River County. <br />Fuel Efficiency <br />The fuel efficiency (i.e., the average miles traveled per gallon of fuel consumed) of the fleet of <br />motor vehicles was estimated using the quantity of gasoline consumed by travel associated with <br />a particular land use. <br />Tindale -Oliver & Associates, Inc. <br />January 2014 <br />Indian River County <br />113 Impact Fee Update Study <br />