01/21/2014 - Laserfiche WebLink

Home Browse Search

Indian River County 1 Impact Fee Update Study • Affordable Growth Strategy • • As presented in Table X-6 and Appendix D, in addition to impact fees, the County will uses a combination of gas tax, sales tax, and grant revenues to fund the transportation system. In terms of affordable growth calculations, it is important to note the following: • Consistent with the methodology used by many Florida jurisdictions, impact fee calculations are based on the adopted LOS standard, which is lower than the current achieved LOS. In other words, under tlecu`rrent methodology, even with the full impact fee, unless the County usesother revenue sources, the current achieved LOS for the system will deteriorate andmore congestion will be experienced. It is Indian River Countys'policy to conduct a Zink -by -link capacity analysis and ensure that no link drops below LOS standard As such, affordable growth calculations are prepared using the current achieved LOSS When the fee is calculated using the current achieved Lit: amounts to $12,700 for a mid-size single family home, compared<to $1,354 per home calculated using the adopted LOS standard. As such, the standard methodology used for transportation impact fees Nsi results in fee levels that slows down thekdegradation of the system, but does not generate sufficie tevenues tomaintainthe existing conditions when they are better than> Yadopted LeS standard h A. A • Asfinentioned previously,fthecredit calculations assume that the local option sales Q tax will t .be re -adopted in 20'19. \1n addition, the County had to defer maintenance expenses since,2006 through the CIP period due to lack of funding for a capacity projects.'.As such the. available revenues for transportation capacity are liket gdecrease int� future The Affordable Growth calculations are based on this reduced funding and do not take into account funding from the State since the County does? of control the State budget. If the sales tax is re -adopted or other 4ali `e revenue sourcesttecome available, these calculations will need to be revised. • Although the medium population projections from the University of Florida, Bureau of Economic and Business Research (BEBR) suggest an average growth rate of approximately 1.4 percent through 2040, the high projections indicate almost a 2 - percent annual growth rate. To mitigate the uncertainty of growth rates and given that even if adopted at 100 percent level, impact fees will not generate sufficient revenues to maintain the current LOS and that the transportation system will Tindale -Oliver & Associates, Inc. January 2014 Indian River County 119 Impact Fee Update Study