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Table III = 10 <br /> Revenue per Functional Resident <br /> Capital Expansion Functional <br /> Year Expenditures(1 ResidentS711 <br /> FY 1998/99 $0 1073599 <br /> FY 1999/00 $ 0 1101550 <br /> FY 2000/01 $ 0 112 , 312 <br /> FY 2001 /02 $ 3 , 500 1145683 <br /> FY 2002/03 $ 9895741 117 , 416 <br /> FY 2003 /04 $ 90 , 259 121 , 852 <br /> FY 2004/05 $ 10 , 8369800 1235875 <br /> FY 2005 /06 $ 3 , 9791183 126 , 246 <br /> FY 2006/07 $ 0 1289653 <br /> FY 2007/08 $ 0 131 , 096 <br /> FY 2008/09 $ 0 1335575 <br /> Average Functional Residents per Year ( 1999 - 2009) 1205714 <br /> Average Expansion per Year (FY 1998/99 - 2008/09) $ 15445 ,408 <br /> Average Expansion per Functional Resident $ 11 . 97 <br /> ( 1 ) Source : Tables III -7 and 111-9 <br /> (2 ) Source : Table A- 5 <br /> The credit per functional resident is determined by calculating the present value of the <br /> revenue per functional resident that is used to fund jail facility capital expansion . As <br /> shown in Table III - 11 , the credit is $ 169 per functional resident . <br /> Table III = 11 <br /> Credit per Functional Resident <br /> Component Figure <br /> Average Annual Capital Improvement Credit <br /> per Functional Resident( l ) $ 11 . 97 <br /> Capitalization Rate(2 ) 5 % <br /> Capitalization Period ( in years)(3 ) 25 <br /> Credit per Resident(4 ) $ 168 . 70 <br /> ( 1 ) Source : Table 1I1 - 10 <br /> (2 ) Capitalization rate is estimated at 5 percent. <br /> (3 ) Capitalization period is estimated at 25 years , which is typically <br /> when major renovations or replacement of capital facilities become <br /> necessary . <br /> (4 ) Present value of the average annual capital improvement credit per <br /> functional resident ( Item 1 ) over a 25 -year period (Item 3 ) with a <br /> capitalization rate of 5 percent (Item 2 ) . <br /> Tindale -Oliver & Associates , Inc . Indian River County <br /> May 2005 III - 11 Impact Fee Study <br />