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• <br />Indian River County 1 Impact Fee Update Study <br />Net Public Buildings Impact Cost <br />The net impact fee per functional resident is the difference between the Cost Component <br />and the Credit Component. Table IV -6 presents the calculation of the net public buildings <br />facilities impact cost per functional resident. <br />The first section of Table IV -6 identifies the total impact cost as $504 per functional <br />resident. The second section of the table identifies the capital expandion expenditure <br />credits for the public buildings facilities impact fee. <br />The net impact cost per functional resident (third`section of2the table) is the difference <br />t4.4CC <br />between the total impact cost per functional.•resident of $504 and the total revenue credit <br />of $24 per functional resident. The results" a net impact cost of$480 per functional <br />resident.Vir <br />Table IV -6 <br />Net Public Building IImpact•Cost per Functional Resident <br />(1) Source: Table IV -4 .. <br />(2) Source: Table IV -5 <br />(3) Average annual capital improvement credit per functional resident (Item 2) over a capitalization rate of <br />2.5% for 5 years for sales tax and 25 years for the court facility surcharge. The estimated discount rate is <br />provided by Indian River County. <br />(4) Total cost per resident (Item 1) less the total credit per resident (Item 3) <br />Calculated Public Buildings Impact Fee Schedule <br />Based on the analysis conducted in this section a public buildings impact fee schedule was <br />developed for residential and nonresidential land uses and is illustrated in Table IV -7. <br />Tindale -Oliver & Associates, Inc. <br />January 2014 <br />Indian River County <br />40 Impact Fee Update Study <br />Revenue Credits <br />Calculation Step <br />Impact <br />Cost <br />Sales Tax <br />Court <br />Facility <br />Surcharge <br />Total <br />— _ <br />. <br />Impact Cost I, ... <br />Total Impact <br />Cost <br />per Function aResident�i <br />$503.87 <br />Revenue Credit �"ct ". <br />Avg <br />Annual Capital <br />\frt <br />Expansion,Credit Amount <br />per Functional;Resid ntili <br />$4.94 <br />$0.18 <br />iargr <br />Capitalization <br />Rate <br />2.5% <br />2.5% <br />Capitalizatioon,Period <br />(in years) ... <br />5 <br />25 <br />Capital <br />Expans <br />o ,Credit <br />per Resident <br />$22.95 <br />$0.84 <br />$23.79 <br />Net Impact Cost <br />Net Impact <br />Cost <br />iaj <br />per Functional Residentl <br />$480.08 <br />(1) Source: Table IV -4 .. <br />(2) Source: Table IV -5 <br />(3) Average annual capital improvement credit per functional resident (Item 2) over a capitalization rate of <br />2.5% for 5 years for sales tax and 25 years for the court facility surcharge. The estimated discount rate is <br />provided by Indian River County. <br />(4) Total cost per resident (Item 1) less the total credit per resident (Item 3) <br />Calculated Public Buildings Impact Fee Schedule <br />Based on the analysis conducted in this section a public buildings impact fee schedule was <br />developed for residential and nonresidential land uses and is illustrated in Table IV -7. <br />Tindale -Oliver & Associates, Inc. <br />January 2014 <br />Indian River County <br />40 Impact Fee Update Study <br />