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Table V- 11 <br /> Net Public Building Impact Cost per Functional Resident <br /> � t <br /> llmpa ` ' rite to _ ertteu ,_ o�s ff <br /> vevG�r <br /> Impact Cost <br /> Total Impact Cost per Functional Resident( ') <br /> $452.31 _ <br /> Impact Credit <br /> Average Annual Capital Improvement Credit Amount per Func . Res . (2) $ 14 . 85 <br /> Capitalization Rate <br /> 5 /o o <br /> _ <br /> Capitalization Period (in years) 25 <br /> Capital improvement credit per Resident(3) 9 ($209 .30) <br /> Effective Vacant Land Value Percentage(4) 0 . 02% <br /> Credit for Past Property Tax Payments on Vacant Land(s) VIA ` ($0 . 07) <br /> Total Revenue Credit per Functional Resident(6) �- ($209.37) <br /> Net Impact Cost <br /> Net Impact Cost per Functional Resident(') <br /> $242.94 <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 /> •r (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 $243 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 11-d 9 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 /> February 2005 V- 13 Impact Fee Study <br />