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• <br />• <br />• <br />Indian River County 1 Impact Fee Update Study <br />• County gas tax equivalent pennies <br />• State gas tax expenditures <br />County Gas Tax Equivalent Pennies <br />A review of the County's historical roadway financing program (FY 2008-2013) and the <br />Capital Improvement Plan (CIP) for FY 2014-2017 indicates that a combination of sales tax <br />revenues, fuel tax revenues, impact fees, developer contributions, and grants are used to <br />fund roadway capacity expansion projects. With the Countylocal option sales tax set to <br />expire in 2019 and the re -adoption and dedication to;etransportation unknown, a sales tax <br />credit was given only for programmed expenditures in'the CIR.: If the sales tax is re -adopted <br />in 2019 or a different revenue source is allocated4o transportat onscapacity to replace the <br />sales tax revenues, these credit figures maykneed to be revised. <br />As shown in Table D-2, Indian River County receives :a.cr:edit of 5.6 pennies4oybr the portion <br />%of non -impact fee revenues (exc udgmsales tax) dedicated to capacity expansion projects <br />a.. - <br />such as new road construction, laneladditions))and intersection improvements. <br /><a. <br />County Gas Tax/EquivalentPennies <br />Excluding Sales Tax <br />_ — �.. <br />Source <br />- - --�- <br />Cost of <br />Projects <br />( Number of <br />Years <br />Revenue <br />from 1 <br />Penny. . <br />Equivalent1 <br />Pennies(4) <br />Pro�ected'sCIP <br />Expendits$(FY 20142017)Iii �'� <br />�: ure <br />°$18,612,373 <br />4 <br />$739,909 <br />$0.063 <br />HistoncakCounty Expenditures <br />(FY 200812013)(2) <br />$22,996,416 <br />6 <br />$739,909 <br />$0.052 <br />Total ^. <br />$41,608,789 <br />10 <br />5739,909 <br />.$0.056 <br />(1) Source: Table D-5 <br />(2) Source: Table D=5 <br />(3) Source: Tab e D=1 <br />(4) Cost of projects divided by number of years divided by revenue from 1 penny (Item 3) divided by 100 <br />As shown in Table D-3, Indian River County receives a credit of 11.1 pennies for the portion <br />of non -impact fee revenues (sales tax ONLY) dedicated to capacity expansion projects such <br />as new road construction, lane additions, and intersection improvements. In the impact fee <br />calculation, this credit will only be applied for five years, as the sales tax will not be <br />considered a recurring revenue source for transportation capacity Improvements. <br />Tindale -Oliver & Associates, Inc. Indian River County <br />January 2014 <br />D-3 Impact Fee Update Study <br />