Indian River County Impact Fee Study Final Report - irccdd.com

(15) Source: Table VI-15
(16) Total impact cost per resident (Item 14) multiplied by effective vacant land
percentage (Item 15)
(17) Sum of library equipment credit (Item 3), credit per resident from optional sales tax
and bequests (Item 13), and vacant land credit (Item 16).
Existing Deficiencies
Because the County will adopt the existing LOS as the standard for all library capital
items, there are no existing deficiencies. While there are no existing deficiencies,
adopting the existing LOS as the standard does, in fact, create the need to expand
facilities in the near future to meet the needs of new growth.
Net Library Facility, Items, and Equipment Impact Cost
To calculate the net impact cost, the total credit per resident is subtracted from the total
impact cost per resident. This includes reducing the impact cost to reflect external
revenues exclusive of impact fees (primarily from optional sales tax and bequests) that
may be available to help finance library facilities and future purchases of library items
and equipment. As presented in Table VI-18, net impact cost is $202 per resident.
Table VI-18
Net Library Facilities Impact Cost
Impact Cost/Credit Element Impact Cost Revenue Credit
Building and Land Cost per Resident (1) $147.05
Library Materials Cost per Resident (2) $141.25
Library Equipment Cost per Resident (3) $1.25
Total Impact Cost (4) $289.55
Total Credit per Resident (5) ($87.85)
Net Impact Cost per Resident (6) $201.70
(1) Source: Table VI-10
(2) Source: Table VI-13
(3) Source: Table VI-13
(4) The sum of building, land, materials, and equipment costs (Items 1, 2, and 3)
(5) Source: Table VI-17
(6) Total impact cost per resident (Item 4) less total credit per resident (Item 5)
Persons per Housing Unit by Land Use
The final calculation of the library impact fee is dependent on household size (residents
per housing unit), which varies by residential land use. Table VI-19 presents the
residents per housing unit for residential land uses to be included in the library impact fee
schedule. The calculations for these figures were presented in Section II, Table II-6.
Tindale-Oliver & Associates, Inc.
Indian River County
May 2005 VI-19 Impact Fee Study