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• <br />• <br />• <br />Indian River County 1 Impact Fee Update Study <br />Land Cost <br />Because of recent fluctuations in land values statewide, a detailed analysis of land values for <br />each type of park (and the geographic subareas within the county) was conducted This <br />analysis takes into consideration current land value of the existing parks as reported by the <br />Indian River County Property Appraiser as well as an analysis of recent sales of vacant land <br />similar in size and location to Indian River County's parks. Based on this analysis, an average <br />land value of $50,000 per acre is used in the impact fee calculations. Appendix F provides <br />the data used for this analysis. <br />The cost of land for parks and recreation facilities includes more than just the purchase cost <br />gric <br />of the land. Landscaping/site improvement and utilities/paving costs are also considered. <br />These costs can vary greatly, depending on the4t pe of services offered at each park. Based <br />on information provided by the County;as' well as information:'. from similarly sized <br />jurisdictions and park types, basic landscaping, site preparation, and irrigation costs were <br />estimated and are presented in Table IX -4. <br />Table IX -4 <br />LanidMCost perResident <br />(1) <br />2) <br />3) <br />(4) <br />Source: Appendix F, TableJFlb <br />Source: Indian River;County <br />Source: Indian River County <br />Sum of land purchase cost (Item 1), landscaping, site preparation, and irrigation costs (Item 2), and <br />utilities and paving per acre cost (Item 3) <br />(5) Source: Table IX -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 />Tindale -Oliver & Associates, Inc. <br />January 2014 <br />Indian River County <br />91 Impact Fee Update Study <br />Facility/Calculation Step <br />Cost per Acre <br />Land Purchase;Cost per Acrel ' � <br />$50,000 <br />Landscaping, <br />Siteiipseparation' and IrrigationiCosts <br />We wswie1/21 <br />(per acre) <br />$5,000 <br />Utilities and Paving(3i% <br />(per acre) , <br />$20,000 <br />Total <br />Land Cost per <br />Acre <br />$75,000 <br />Regional Parks LOSu(acres <br />per1;(200 <br />Residents). <br />5.23 <br />Land Cost <br />per Reside Regio aljRark Component(6) <br />$392.25 <br />Neighborhood/Commun <br />tyjParks L(acres <br />per 1,000 Residents))s) <br />0.36 <br />Land CoserResident <br />- N ghborhood/Community Park Component(') <br />$27.00 <br />Land Cost <br />pe R silent - All <br />s(8) <br />$419.25 <br />Par <br />(1) <br />2) <br />3) <br />(4) <br />Source: Appendix F, TableJFlb <br />Source: Indian River;County <br />Source: Indian River County <br />Sum of land purchase cost (Item 1), landscaping, site preparation, and irrigation costs (Item 2), and <br />utilities and paving per acre cost (Item 3) <br />(5) Source: Table IX -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 />Tindale -Oliver & Associates, Inc. <br />January 2014 <br />Indian River County <br />91 Impact Fee Update Study <br />