Laserfiche WebLink
Table V - 11 <br /> Net Public Building Impact Cost per Functional Resident <br /> Impact <br /> Impact Cost / Credit Element Cost Revenue Credits <br /> Impact Cost <br /> Total Impact Cost per Functional Resident( l ) $435. 96 <br /> Impact Credit <br /> Average Annual Capital Improvement Credit Amount per Func . Res .(2) $ 13 . 53 <br /> Capitalization Rate 5 % <br /> Capitalization Period ( in years) 25 <br /> Capital improvement credit per Resident(3 ) ($ 190 .69) <br /> Effective Vacant Land Value Percentage(4) 0 . 02% <br /> Credit for Past Property Tax Payments on Vacant Land(5) ($ 0 .07) <br /> Total Revenue Credit per Functional Resident(6) ($ 190 .76) <br /> Net Impact Cost <br /> Net Impact Cost per Functional Resident(' $245.20 <br /> ( 1 ) Source : Table V-7 <br /> (2 ) Source : Table V-9 <br /> (3 ) Average annual capital improvement credit per functional resident (Item 2) over a <br /> capitalization rate of 5 percent for 25 years . <br /> (4) Source : Table V- 10 <br /> ( 5 ) The total impact cost per functional resident ( Item 1 ) multiplied by the effective vacant land <br /> percentage (Item 4 ) . <br /> ( 6 ) Sum of capital improvement credit per resident (Item 3 ) and for past property tax payments <br /> on vacant land (Item 5 ) . <br /> (7 ) Total impact cost per functional resident (Item 1 ) less total revenue credit per functional <br /> resident (Item 6 ) . <br /> Proposed Public Building Impact Fee Schedule <br /> Using the net impact cost per functional resident identified above , a proposed public <br /> building impact fee schedule was developed for residential and non -residential land uses . <br /> The proposed impact fee for each land use is determined by multiplying the net impact <br /> cost per functional resident of $245 by the functional resident coefficient for each land <br /> use, as discussed in Section II, Table II - 16 for residential land uses and in Section II , <br /> Table II - 19 for non-residential land uses . The proposed public building impact fee <br /> schedule is illustrated in Table V - 12 . <br /> Tindale -Oliver & Associates , Inc . Indian River County <br /> May 2005 V - 13 Impact Fee Study <br />