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

Total Impact Cost per Student Station
The calculation of the total impact cost per student is based on the facility cost per
student station figures presented in Table IX-2 and is calculated using the distribution of
projected students for the 2008/09 school year, which is derived using data provided by
the IRC School District. The estimated number of students projected for the 2008/09
school year is used to properly determine the projected distribution of students by school
type over the next five years. As previously mentioned, this figure is used because the
current LOS is established based on the 2008/09 public school inventory, as provided in
Appendix D, Table D-2. The weighted total facility impact cost per student is determined
by multiplying the weighted cost per student station by the respective distribution factors
for each school type. This step also adjusts the cost per student station to the cost per
student. Based on the information presented in Table IX-3, the weighted total facility
impact cost per student is $17,958.
The cost of debt for school facilities is also added to the impact cost per student and is
based on the present value of the interest paid on the five-year average annual amount of
debt associated with expansion projects, per student. The present value of interest paid
for the cost of debt per student is added to the previously calculated total weighted cost
per student figure for facilities calculated in the previous step. The result is a total impact
cost per student of $18,012. The items discussed in this section, as well as the resulting
total impact cost per student, are included in Table IX-3.
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Tindale-Oliver & Associates, Inc.
Indian River County
May 2005 IX-8 Impact Fee Study