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• • • Indian River County 1 Impact Fee Update Study Given this information, the building value of prime facilities is estimated at $210 per square foot and support buildings at $50 per square foot. This results in a weighted average value of $167 per square foot for all buildings, which is within the range of other jurisdiction. It is also almost the same figure as that used in the 2005 study ($169 per square foot) and approximately 25 percent lower than the figure used in the 2007 study ($226- per square foot). Table F-4 Value of Public Buildings (1) Source: Indian River County Capital Im drovement Plan (2) Source: Indian River County, includes buildingskfor which information was available (3) Source: Indian River County, includes buildings for'which informatiowas available °(4) Source: Recent impact fee studies, represents wei htedaveraga of prime and support ort buildings Libraries The most recent library construction in IndiannRiver County was completed in 2009 for a .. �,: building cost of.$263 perrsquare foot The current average insurance value of existing libraries Is;$206 per square foot, which tends toer present a conservative estimate. Finally recentdibrary construction in other,Florida jurisdictions provided an average building cost of $245 per -square foot. Given this •ir(formation, a building value of $240 per square foot is used in theIibrary impact fee \calculatigns. This figure is almost same as that used in the .14144 2005 study ($242¢per square foot) and represents a decrease of approximately 20 percent ti. • from the 2007 study ($296 per square foot). Tindale -Oliver & Associates, Inc. Indian River County January 2014 F-6 Impact Fee Update Study Source Year Building Cost per Square Foot__ — — --- - -- Future Planned Facilities(') L4. N/A $200 2013 Insurance Values of Existing Buildings (pnme)(z) $210 Insurance Values of Existing Buildings (support)( 3) ,^ .r 2013. ; $46 i"^` Recent Public Building Construction in Other FloridaCounties (4) '3"4;