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

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Table VII-12 Percent of Past Property Tax Payments on Vacant Land (1) Land Taxable Value County Vacant Land Value (less Indian River Shores) $952,101,560 Countywide Total Property Value (less Indian River Shores) (2) $10,039,535,106 Vacant Land Value as a Percentage of Total Property Value (3) 9.48% Percent of Capital Expansion Projects Funded with General Fund (4) 5.07% Effective Vacant Land Value Percentage (5) 0.48% (1) Source: Property Appraiser, IRC (2) Includes structures. (3) Vacant Land Percent = $952,101,560/$10,039,535,106 (4) Source: Table VII-10. Percent of five-year historical general fund revenue for expansion projects divided by total five-year historical revenue for capital expansion projects. (5) Vacant land value as a percentage of total property value (Item 3) multiplied by the percent of capital expansion projects funded with general fund (Item 4). Existing Deficiencies Since the current LOS will become the adopted LOS standard, there are no existing deficiencies of Fire/EMS facilities. 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 Fire/EMS Impact Cost The net impact fee per functional resident is the difference between the cost component and the credit component. Table VII-13 summarizes the calculation of the net Fire/EMS impact cost per functional resident. The first section of Table VII-13 identifies the facility impact cost per functional resident as $255. The second section of the table identifies the revenue credits for the Fire/EMS impact fee. The credit calculation includes the present value of projected annual capital funding per functional resident of $78, as well as a credit of $1.23 for past property tax payments on vacant land. The addition of these two credits results in a total revenue credit of $79 per functional resident. The net impact cost per functional resident (third section of the table) is the difference between the total impact cost per functional resident and the total revenue credit. This results in a net impact cost of $176 per functional resident. Tindale-Oliver & Associates, Inc. Indian River County May 2005 VII-14 Impact Fee Study
Table VII-13 Net Impact Cost per Functional Resident Impact Cost / Credit Element Impact Cost Revenue Credits Impact Cost Total Impact Cost per Functional Resident (1) $255.10 Impact Credit Average Annual Capital Improvement Credit per Functional Resident (2) $5.54 Capitalization Rate 5% Capitalization Period (in years) 25 Capital Improvement Credit per Resident (3) ($78.08) Effective Vacant Land Value Percentage (4) 0.48% Credit for Past Property Tax Payments on Vacant Land (5) ($1.23) Total Revenue Credit per Functional Resident (6) ($79.31) Net Impact Cost Net Impact Cost per Functional Resident (7) $175.79 (1) Source: Table VII-9 (2) Source: Table VII-11 (3) Average annual capital improvement credit per functional resident (Item 2) over a capitalization rate of 5 percent for 25 years. (4) Source: Table VII-12 (5) Effective vacant land value percentage (Item 4) multiplied by total impact cost per functional resident (Item 1). (6) Sum of capital improvement credit per resident (Item 3) and for past property tax payments on vacant land (Item 5). (7) Total impact cost per functional resident (Item 1) less the total revenue credit per functional resident (Item 6). Proposed Fire/EMS Impact Fee Schedule As presented in Table VII-14, a Fire/EMS impact fee schedule was developed for residential and non-residential land uses, based on the net impact cost per functional resident presented in Table VII-13. The total impact fee for each land use also includes a 3 percent administrative fee. Tindale-Oliver & Associates, Inc. Indian River County May 2005 VII-15 Impact Fee Study
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Credit Component...................
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Tables Proposed Parks and Recreatio
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Table VI-5 Comparison of IRC Curren
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Maps Map III-1 Correctional Facilit
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Appendix A Appendix B Appendix C Ap
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o A non-charter county may adopt co
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• Most communities make the effec
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• Reasonable administrative costs
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• The BCC may establish a policy
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Table I-2 Current and Recommended S
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Table I-4 Historical and Projected
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Table II-1 IRC Population Estimates
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Table II-4 Unincorporated County Ar
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Table II-8 Unincorporated County Ar
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Residential Functional Population I
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Table II-10 11-Hour/5-Day General F
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Table II-12 Countywide Excluding In
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Table II-14 Countywide Functional P
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Table II-16 Functional Residents fo
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Table II-19 Assumptions for Nonresi
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Table III-1 Land & Buildings Invent
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Tindale-Oliver & Associates, Inc. I
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Table III-3 Level of Service Compar
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Table III-6 Equipment Cost Equipmen
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Table III-9 Historical Capital Expe
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Existing Deficiencies As discussed
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Table III-13 (continued) Impact Fee
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Table III-15 Annual Impact Fee Reve
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• The SWDD also operates five cus
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Demand Component Based on the LOS s
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Table IV-4 Proposed Capital Expendi
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As mentioned previously, future cap
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Table IV-7 Historical Revenue Sourc
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The following table provides a summ
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Existing Deficiencies As presented
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Table IV-13 Proposed Solid Waste Im
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Estimated Revenues As presented in
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Table V-1 Summary of Public Buildin
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Page 92 and 93: Services provided by County-owned a
Page 94 and 95: Table V-6 Public Building Replaceme
Page 96 and 97: Table V-8 summarizes the capital ex
Page 98 and 99: The vacant land value as a percenta
Page 100 and 101: Table V-12 Proposed Public Building
Page 102 and 103: Table V-13 2025 Demand and Cost For
Page 104 and 105: guideline in planning future infras
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Page 108 and 109: Tindale-Oliver & Associates, Inc. I
Page 110 and 111: In addition to the available materi
Page 112 and 113: Table VI-5 compares the County’s
Page 114 and 115: Table VI-8 Building Unit Costs (1)
Page 116 and 117: Library Materials and Equipment The
Page 118 and 119: Table VI-13 Library Materials and E
Page 120 and 121: It should be noted that it is the C
Page 122 and 123: Table VI-17 Total Credit per Reside
Page 124 and 125: Table VI-19 Persons per Housing Uni
Page 126 and 127: (1) Source: Section II, Table II-1
Page 128 and 129: As presented in Table VI-21, the pr
Page 130 and 131: Table VII-1 Land & Buildings Invent
Page 134 and 135: Table VII-3 Capital Equipment Repla
Page 136 and 137: Table VII-5 Current Level of Servic
Page 138 and 139: Table VII-7 Station Equipment Costs
Page 140 and 141: Table VII-10 Six-Year Historical Ca
Page 144 and 145: Table VII-14 Proposed Fire/EMS Impa
Page 146 and 147: Table VII-15 2025 Demand and Cost F
Page 148 and 149: guideline in planning future infras
Page 150 and 151: Table VIII-1 Land and Building Inve
Page 154 and 155: unincorporated county area. The cur
Page 156 and 157: Table VIII-6 Equipment Cost Equipme
Page 158 and 159: Table VIII-8 Historical Capital Exp
Page 160 and 161: Table VIII-10 Vacant Land Value Per
Page 162 and 163: Table VIII-12 Net Impact Cost Impac
Page 164 and 165: Table VIII-13 (continued) Proposed
Page 166 and 167: Table VIII-15 Annual Impact Fee Rev
Page 174 and 175: Cost Component Cost per Student Sta
Page 176 and 177: Total Impact Cost per Student Stati
Page 178 and 179: fees is given only for revenue used
Page 180 and 181: Table IX-5 2-Mill Revenue Credit Ca
Page 182 and 183: Table IX-7 Net Impact Cost per Stud
Page 184 and 185: Table IX-10 2025 Demand and Cost Fo
Page 186 and 187: As presented in Table IX-10, the pr
Page 191: Table X-1 (Continued) Parks & Recre
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Table X-2 Parks & Recreation Facili
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was calculated using historical exp
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Table X-7 Regional Parks Equipment/
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Table X-9 Programmed Capital Costs
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Table X-11 Historical Capital Expen
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Table X-13 Vacant Land Value Percen
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Table X-15 Net Impact Cost per Resi
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Table X-18 2025 Demand and Cost For
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For impact fee purposes, revenue pr
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Table A-3 24-Hour Baseline - Uninco
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Table A-7 24-Hour Functional Popula
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The resulting percentages from Tabl
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Table A-14 IRC Weighted Average Sea
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Table C-1 Proposed Solid Waste Impa
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Table D-2 IRC School District Inven
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Table F-2 Inventory of Available Im
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Table F-2 Inventory of Available Im
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Table F-3-2 Comparison of Standards
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County SF per Capita Table F-3-4 Co
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Table G-2 Solid Waste - Residential
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Table G-4 Library Facilities - Resi
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Table G-6 Law Enforcement - Residen
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Table G-8 Park and Recreation Facil
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Presentation Overview 1 2 3 4 5 6 B
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Background • BCC initiated study
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Decision Points Decision Points Enc
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Basic Impact Fee Formula Impact Fee
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Distribution of Impact Fees Transpo
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2 Legal Requirements
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Impact Fee vs. Tax • An impact fe
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Authority in IRC • Non-charter co
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Defendable Methodology • Study th
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Revenue Credits • Ensure proporti
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Administration • Must be easy to
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Effective Date • May be effective
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Applicability • Creates a measura
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Decision Point Will each city enter
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Imposition & Collection • As earl
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Use of Impact Fee Revenue • Must
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Decision Point The consultant recom
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Decision Points The consultant reco
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4 LOS Standards
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Impact Fee Comparisons • Single F
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5 Funding Sources (see Table 4)
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Decision Point Does the BCC want to
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Next Steps • Finalize Data Collec
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