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Indian River County 1 Impact Fee Update Study Table F-5 Library Building Value Source Construction of Brackett Library'} Insurance Values of Existing Libraries(2) Recent Library Construction in Other Florida Counties(3) Used in the Study Year 2009 2013 2010-2012 2013 Building Cost per Square Foot $263 $206 $245 $240 1) Source: Indian River County (2) Source: Indian River County (3) Source: Recent impact fee studies Parks & Recreation Facilities The parks and recreation facilities impact fee inventory includes several recreational facilities. The value of these facilities is based on insurance values, information from other jurisdictions and discussions with the County staff. Solid Waste Facilities The solid waste impact fee inventory includes several customer care centers. Due to the limited information on these facilities, the value is based on the recent reconstruction and expansion of Oslo Convenience Center at a cost of $2.6 million. Land Values For each impact fee program area, land values were determined based on the following analysis, as data available: • Recent land purchases for the related infrastructure (if any); • Value of current parcels as reported by the Indian River County Property Appraiser; • Value of vacant land by size and by land use; and • Vacant land sales over the past three years by size and by land use. It should be noted that the land value and sales analysis suggested that sales data indicates higher values than estimates included in the Property Appraiser's database for those vacant properties that have not been sold for a while. This may be due to a lag in the update of land values. The following paragraphs summarize the data used for each program area. Tindale -Oliver & Associates, Inc. Indian River County June 2014 F-7 Impact Fee Update Study