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Indian River County I Impact Fee Update Study <br /> Table VIII-4 <br /> Land Cost per Resident <br /> Facility/Calculation Step Cost per Acre <br /> Land Purchase Cost perAcre(l) $50,000 <br /> Landscaping,Site Preparation,and Irrigation Costs(per acre)(2) $5,000 <br /> Utilities and Paving(per acre)(3) <br /> 20 000 <br /> Total Land Cost per Acre(4) $75,000 <br /> Regional Parks LOS(acres per 1,000 Residents)(5) S.23 <br /> Land Cost per Resident-Regional Park Component(6) $392.25 <br /> Neighborhood/Community Parks LOS(acres per 1,000 Residents)(5) 0.36 <br /> Land Cost per Resident-Neighborhood/Community Park Component(') $27.00 <br /> Land Cost per Resident-All Parks(8) $419.25 <br /> (1) Source:Appendix F,Table F-10 <br /> (2) Source: Indian River County <br /> (3) Source: Indian River County <br /> (4) Sum of land purchase cost(Item 1),landscaping,site preparation,and irrigation costs(Item 2),and <br /> utilities and paving per acre cost(Item 3) <br /> (5) Source:Table VIII-2 <br /> (6) Total land cost per acre(Item 4)multiplied by regional parks LOS,divided by 1,000 <br /> (7) Total land cost per acre(Item 4)multiplied by neighborhood/community parks LOS,divided by 1,000 <br /> (8) Sum of land cost per resident for regional parks(Item 6)and neighborhood/community parks(Item 7) <br /> Facility and Equipment Cost <br /> The second step in calculating the total cost for parks and recreation services in Indian River <br /> County involves estimating the current value of recreational facilities. When available, the <br /> value for the parks facilities and equipment is estimated based on recent bids or purchases <br /> made by the County for its park facilities. When recent bid/purchase information was not <br /> available, unit costs from the County's insurance reports and recent costs for similar <br /> facilities from other jurisdictions were used. <br /> As presented in Table VIII-5,the total park facility value is$3.3 million for neighborhood and <br /> community parks and $40.7 million for regional parks, for a combined total of $44 million, <br /> including facilities, equipment, and architecture and engineering (A&E) costs. <br /> Tindale-Oliver&Associates, Inc. Indian River County <br /> June 2014 95 Impact Fee Update Study <br /> 130 <br />