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Indian River County I Impact Fee Update Study <br /> Given this information, the building value of prime facilities is estimated at $210 per square <br /> foot and support buildings at $50 per square foot. This results in a weighted average value <br /> of$167 per square foot for all buildings, which is within the range of other jurisdiction. It is <br /> also almost the same figure as that used in the 2005 study ($169 per square foot) and <br /> approximately 25 percent lower than the figure used in the 2007 study ($226 per square <br /> foot). <br /> Table F-4 <br /> Value of Public Buildings <br /> BuildingCostper <br /> Source Year Square .. <br /> Future Planned Facilities(l) N/A $200 <br /> Insurance Values of Existing Buildings(prime)I2) 2013 $210 <br /> Insurance Values of Existing Buildings(support)(3) 2013 $46 <br /> Recent Public Building Construction in Other Florida Counties(4) 2010-2012 $135-$200 <br /> Used in the Study--Prime Buildings 2013 $210 <br /> Used in the Study--Support Buildings 2013 $50 <br /> (1) Source: Indian River County Capital Improvement Plan <br /> (2) Source:Indian River County,includes buildings for which information was available <br /> (3) Source:Indian River County,includes buildings for which information was available <br /> (4) Source: Recent impact fee studies,represents weighted average of prime and support buildings <br /> Libraries <br /> The most recent library construction in Indian River County was completed in 2009 for a <br /> building cost of $263 per square foot. The current average insurance value of existing <br /> libraries is $206 per square foot, which tends to represent a conservative estimate. Finally, <br /> recent library construction in other Florida jurisdictions provided an average building cost of <br /> $245 per square foot. Given this information, a building value of $240 per square foot is <br /> used in the library impact fee calculations. This figure is almost same as that used in the <br /> 2005 study ($242 per square foot) and represents a decrease of approximately 20 percent <br /> from the 2007 study($296 per square foot). <br /> Tindale-Oliver&Associates, Inc. Indian River County <br /> June 2014 F-6 Impact Fee Update Study <br /> zs-5- <br />