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• • • Indian River County 1 Impact Fee Update Study Table D-3 County Gas Tax Equivalent Pennies (Sales Tax ONLY) (1) Source: Table D-6 (2) Source: Table D-6 (3) Source: Table D-1 (4) Cost of projects divided • by number of years divided by revenuefrom 1 penny (Item 3) divided by 100 State Gas Tax Expenditures In the calculation of the equivalent pennies of gas tax from the State, expenditures on roadway capacity expansion spanning a 10 -yea period4(. om FY 2009•to FY 2018) were reviewed. For calculation purposesthe 10 -year period."was broken into two increments; historical (FY 2009-2013) and future: (f.Y2014-2018). ^ Information on historical projects' funding and the future year estimates w.as obtained from the FDOT Work Programs and the County's FY 2014-2018CTransportation Improvement Program (TIP). The use of a. 10 -year period, for purposes of developing a State credi 4or roadway capacity expansion projects, results in a stable credit, as it accounts for the volatility in FDOT spending in the county over short periods of time. The total cost of the capacityaadding projee for the five-year "historical" period and projectechin the five-year <Transportation Improvement Program are as follows: Cfr • FY 2009=2013 work plan equates to 20.5 pennies tak "Fr • FY 2014-2018‘work pinequates to 10.5 pennies The combined weighted average over the 10 -year period of state expenditure for capacity - adding roadway projects results in a total of 15.5 equivalent pennies, which is a slightly higher state credit than what is observed in most other counties. Table D-4 documents this calculation. The specific projects that were used in the equivalent penny calculations are summarized in Table D-7. Tindale -Oliver & Associates, Inc. Indian River County January 2014 D-4 Impact Fee Update Study Source Cost of Projects hRevenue Numberof Years — 4 1 from 1 II I3� F —Penny-- $739,909 Equivalent Pennies(4) h--- - --_. Projected CIP Expenditures (FY 2014-2017)111 — $59,458,414 $0.201 Historical County Expenditures (FY 2008-2013)(2) $22,319,296 6 $739,909 $0.050 ' Total $81,777,710 10 $739,909 $0.111 (1) Source: Table D-6 (2) Source: Table D-6 (3) Source: Table D-1 (4) Cost of projects divided • by number of years divided by revenuefrom 1 penny (Item 3) divided by 100 State Gas Tax Expenditures In the calculation of the equivalent pennies of gas tax from the State, expenditures on roadway capacity expansion spanning a 10 -yea period4(. om FY 2009•to FY 2018) were reviewed. For calculation purposesthe 10 -year period."was broken into two increments; historical (FY 2009-2013) and future: (f.Y2014-2018). ^ Information on historical projects' funding and the future year estimates w.as obtained from the FDOT Work Programs and the County's FY 2014-2018CTransportation Improvement Program (TIP). The use of a. 10 -year period, for purposes of developing a State credi 4or roadway capacity expansion projects, results in a stable credit, as it accounts for the volatility in FDOT spending in the county over short periods of time. The total cost of the capacityaadding projee for the five-year "historical" period and projectechin the five-year <Transportation Improvement Program are as follows: Cfr • FY 2009=2013 work plan equates to 20.5 pennies tak "Fr • FY 2014-2018‘work pinequates to 10.5 pennies The combined weighted average over the 10 -year period of state expenditure for capacity - adding roadway projects results in a total of 15.5 equivalent pennies, which is a slightly higher state credit than what is observed in most other counties. Table D-4 documents this calculation. The specific projects that were used in the equivalent penny calculations are summarized in Table D-7. Tindale -Oliver & Associates, Inc. Indian River County January 2014 D-4 Impact Fee Update Study