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• <br />Indian River County I Impact Fee Update Study <br />Affordable Growth Strategy <br />Based on the data shown in Table V-9, the County uses approximately $50,000 per year of <br />n on -impact fee funding for library capacity projects. During the next 25 years, Indian River <br />County is expected to grow at an average annual rate of 1.4 percent. Figure V-1 presents <br />how impact fee levels would change over time with different growth rates. As shown, the <br />red horizontal line represents the maximum impact fee calculated above. This level is <br />considered the investment needed to maintain the current LOS. Given that the available <br />n on -impact fee funding for library capital facilities is very,lirnited, the County needs most of <br />the impact fee (approximately 95 percent) to maintain ,the'adopted LOS standards used to <br />x�� <br />calculate the impact fee. In addition, library impact fees are charged only to residential land <br />u ses and the County's primary focus at this time is3to provide some impact fee relief to non- <br />residential land uses. <br />100% <br />Figure V4 , <br />Library ImpacF Affordable Growth Approach <br />8096 -. <br />60% <br />4096 —. <br />20% <br />0% <br />IRC<Average. <br />Annual :GroWth. <br />Imme <br />• <br />• TotaliCost <br />Max muriithmpact.Fee <br />SCurVe <br />fleaME e=1, <br />0.00%. 1.00% <br />I <br />2.00% 3.00% 4.0096 5.0096 6.00% <br />Annual Growth Rate <br />Tindale -Oliver & Associates, Inc. <br />January 2014 <br />57 <br />7.0096 8.0096 9.00%. 10.0004) <br />Indian River County <br />Impact Fee Update Study <br />