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Indian River County 1 Impact Fee Update Study <br />Table VIII -4 <br />Land Cost per Resident <br />Facility/Calculation Step <br />Land Purchase Cost per Acrel�1 <br />Cost per Acre <br />$50,000 <br />Landscaping, Site Preparation, and Irrigation Costs (per acre)IZI <br />$5,000 <br />Utilities and Paving (per acre)i3i <br />$20,000 <br />Total Land Cost per Acrei4i <br />$75,000 <br />Regional Parks LOS (acres per 1,000 Residents)1s1 <br />5.23 <br />Land Cost per Resident - Regional Park Component(6) <br />$392.25 <br />Neighborhood/Community Parks LOS (acres per 1,000 Residents)Is1 <br />0.36 <br />Land Cost per Resident - Neighborhood/Community Park Component(7) <br />$27.00 <br />Land Cost per Resident - All Parks(8) <br />$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), an <br />d <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 />