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• <br />• <br />Indian River County 1 Impact Fee Update Study <br />Affordable Growth Strategy <br />Based on the data shown in Table IV -5, the County will use $694,000 per year of sales tax <br />revenues for the next five years. In addition, the County uses approximately $25,000 per <br />year of recurring non -impact fee funding for capacity projects. During the next 25 years, <br />Indian River County is expected to grow at an average annual rate of 1.4 percent. Figure IV - <br />1 presents how impact fee levels would change over time with different growth rates. As <br />shown, the red horizontal line represents the maximum technically acceptable fee. This <br />level is compared to investment needed to maintain the current LOS. Although the County <br />may charge the maximum amount of public buildingsiim"paet fee calculated, if the historical <br />levels of non -impact fee funding were to be continued, the County could adopt the impact <br />fee at approximately 90 percent for all land use and continue to/rnaintain the adopted LOS <br />grozo <br />standard used in the calculations. If the County decides to buy -down all non-residential <br />land uses at 100 percent (e.g., $0 impact fee for non-residential landes), the residential <br />land uses need to be charged at approximately 52percent`to maintain the; adopted LOS <br />Per <br />�, , tar <br />. <br />standard. As mentioned previously, these calculations§assume that the sales tax will not be <br />re -adopted in 2019. If the sales ax is re=adopted in 2019 or another revenue source <br />�ee <br />. <br />becomes available for public buildings capital projects, 'these calculations need to be <br />revised. Finally, the level'of discount is a policy decision and could be at any level between <br />v/ethe minimum levels calcul edin this section and 100 percent and still maintain the <br />adopted LOS standard . <br />PublicBuildings,Impact Fee —Affordable Growth Approach <br />Nat <br />12046 -- <br />100% 100% <br />80% <br />To 60% <br />H <br />40% <br />20% <br />0% <br />EMIL VEIL <br />Total <Cost <br />- - Maximum Impact Fee <br />IRCAverage _ <br />Annual Growth �� <br />1 1 1 1 1 1 1 T <br />0.0096 1.0096 .2.0096 3.00% 4.0096 5.00% 6.0096 7.0096 .8.0096 9.9096 10.0096 <br />Annual Growth Rate. <br />Tindale -Oliver & Associates, Inc. Indian River County <br />January 2014 <br />42 Impact Fee Update Study <br />