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Indian River County 1 Impact Fee Update Study <br />Table V-10 <br />Net Library Facilities Impact Cost <br />Calculation Step <br />Impact <br />Cost <br />Revenue <br />Credits <br />Impact Cost <br />Building <br />and Land Cost <br />per Resident (1) <br />$141.38 <br />Library Materials Cost <br />per Resident (2) <br />$172.80 <br />Library <br />Equipment <br />Cost <br />per Resident (3) <br />51.99 <br />Total Impact <br />Cost (4) <br />�:Ar <br />$316.17 <br />Revenue Credit <br />.. .:., <br />Average <br />Annual Capital <br />Expansion <br />Credit pertResident (sl <br />$0.34 <br />Capitalization <br />Rate <br />2.5% <br />Capitalization <br />Period (in years) e k <br />25 <br />Capital <br />Expansion Credit per Resider( <br />(61 <br />$6.26 <br />Net Impact Cost <br />Net Impact <br />Cost <br />per Resident('i <br />$309.91 <br />(1) <br />(2) <br />(3) <br />(4) <br />(5) <br />(6) <br />Source: Table V-7 <br />Source: Table V-8 <br />Source: Table V-8 <br />The sum of building, land, materials_:and equipment costs (Itemsal, 2, and 3) <br />Source: Tablet/ <br />Source: Tresent value of the capitalimprovement'credibper functional resident <br />(Item 2) aVa:discount rate>bf 2.5% with'avcapitahzation period of 25 years. The discount <br />rate was provided by Indil"rn River County <br />arre <br />Total impact costper residenr(Item 4) less total credit per resident (Item 5) <br />attic <br />Calculated Library Facilities Impact,Fee Schedule <br />crikt <br />The calculated, library impact fee for each residential land use is presented in Table V-11. <br />16, <br />The net impactcost per resident calculated in the previous section is applied to the average <br />persons per unit by land use The resulting total impact fees per dwelling unit range from <br />$391 for the multi-farhilyaresidential land use to $785 for single family land use with 2,500 <br />square feet or more space.° <br />Tindale -Oliver & Associates, Inc. Indian River County <br />January 2014 55 Impact Fee Update Study <br />