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Indian River County 1 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 />Source Year <br />Future Planned Facilities(' N/A <br />Building Cost per <br />Square Foot <br />$200 <br />Insurance Values of Existing Buildings (prime)(2 2013 <br />$210 <br />Insurance Values of Existing Buildings (support)(3) 2013 <br />$46 <br />Recent Public Building Construction in Other Florida Counties(4) 2010-2012 <br />$135 - $200 <br />Used in the Study-- Prime Buildings <br />2013 <br />$210 <br />Used in the Study -- Support Buildings <br />2013 <br />I $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 <br />F-6 Impact Fee Update Study <br />