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Indian River County I Impact Fee Update Study Building Cost Analysis To determine the architectural, civil design, site improvement, construction, and FF&E costs associated with building a new school in Indian River County, the following information was evaluated: • Recently built schools in Indian River County; • Cost estimates included in the Educational Plant Survey; • Insurance values of the existing schools; • Cost related information provided by the Indian River County School District; and • School cost information for 135 schools in other Florida counties. The following paragraphs provide further detail on this research and analysis. Construction Cost The last schools built in Indian River County included the replacement of Vero Beach Elementary School in 2012 and the construction of a new middle school (Storm Grove Middle School) in 2009. The cost associated with these schools ranged from $156 per net square foot for the elementary school to $241 per net square foot for the middle school, as shown in Table G-2. In addition, the District's Educational Plant Survey includes several school expansion projects. The estimated cost associated with these expansions ranges from $228 per net square foot to $343 per net square foot. Discussions with the School District confirmed that there were certain elements unique to the Storm Grove Middle School, which resulted in higher cost and the additions tend to be more expensive than new school construction. Finally, the insurance values of existing school buildings range from approximately $145 per net square foot for elementary schools to $185 per net square foot for high schools, with an average of $165 per net square foot for all traditional schools. These figures are consistent with the construction costs observed in other jurisdictions. Table G-3 summarizes data obtained from the Florida Department of Education for schools built in 2011. As shown, the average construction cost is approximately $175 per net square foot, with a range of $145 per net square foot for elementary schools to $200 per net square foot for high schools. Given this data and information, average construction costs of $145 per net square foot for elementary schools, $175 per net square foot for middle schools, and $185 per net square Tindale-Oliver&Associates, Inc. Indian River County June 2014 G-2 Impact Fee Update Study �LZ