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

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Table VIII-10 Vacant Land Value Percentage (1) Land Taxable Value Unincorporated County Vacant Land Value $732,617,920 Unincorporated County Total Property Value (2) $6,596,351,608 Vacant Land Value as a Percentage of the Total Property Value (3) 11.11% Percent of Capital Expansion Expenditures Funded with Ad Valorem Tax Revenues (4) 76% Effective Vacant Land Value Percentage (5) (1) Source: Property Appraiser, IRC 8.44% (2) Includes structures. (3) Vacant Land Percent = $732,617,920/$6,596,351,608 (4) Source: Table VIII-8 (5) Vacant land value as a percentage of total property value (Item 3) multiplied by percent of capital expansion expenditures funded with ad valorem tax revenues (Item 4). The credit per functional resident is presented in Table VIII-11, and it is equal to the addition of the present value of the revenue per functional resident generated by expansion of the law enforcement program and the vacant land credit. The vacant land credit, or credit for past property taxes, is calculated by multiplying the effective vacant land value percentage by the facility cost per functional resident. (This space intentionally left blank) Tindale-Oliver & Associates, Inc. Indian River County May 2005 VIII-12 Impact Fee Study
Table VIII-11 Credit per Functional Resident Component/Calculation Step Figure Average Annual Capital Improvement Credit per Functional Resident (1) $1.51 Capitalization Rate (2) 5% Capitalization Period (3) (in years) 25 Credit per Resident (4) $21.28 Facility Cost per Functional Resident (5) $191.40 Unincorporated County -- Effective Vacant Land Value Percentage (6) 8.44% Revenue Credit for Past Property Taxes (7) $16.15 Total Revenue Credit (8) $37.43 (1) Source: Table VIII-9 (2) Capitalization rate is estimated at five percent (3) Capitalization period is estimated at 25 years, which is typically when major renovations or replacement of capital facilities become necessary. (4) Present value of $1.51 (Item 1) over a 25-year period (Item 3) with a capitalization rate at 5 percent (Item 2) (5) Source: Table VIII-7 (6) Source: Table VIII-10 (7) Facility cost per functional resident (Item 5) multiplied by unincorporated county effective vacant land percent (Item 6) (8) The sum of the credit per resident (Item 4) and revenue credit for past property taxes (Item 7) Existing Deficiencies Since the current LOS will become the adopted LOS standard, there are no existing deficiencies of law enforcement 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 Law Enforcement Impact Cost The net impact fee per functional resident is the difference between the total impact cost per resident and the total revenue credit per resident. Table VIII-12 presents the calculation of the net law enforcement impact cost per functional resident. Tindale-Oliver & Associates, Inc. Indian River County May 2005 VIII-13 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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Services provided by County-owned a
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Table V-6 Public Building Replaceme
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Table V-8 summarizes the capital ex
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The vacant land value as a percenta
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Table V-12 Proposed Public Building
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Table V-13 2025 Demand and Cost For
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guideline in planning future infras
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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 132 and 133: Tindale-Oliver & Associates, Inc. I
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 142 and 143: Table VII-12 Percent of Past Proper
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 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
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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
Page 196 and 197: Table X-2 Parks & Recreation Facili
Page 198 and 199: was calculated using historical exp
Page 200 and 201: Table X-7 Regional Parks Equipment/
Page 202 and 203: Table X-9 Programmed Capital Costs
Page 204 and 205: Table X-11 Historical Capital Expen
Page 206 and 207: Table X-13 Vacant Land Value Percen
Page 208 and 209: 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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