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Table V =7 <br /> Total Impact Cost per Functional Resident <br /> Cost Component I Figure <br /> LOS --Public Bldg Sq Ft per Functional Resident( i ) 2 . 40 <br /> Replacement Cost per Square Foot of Public Building <br /> Building Replacement Cost per Square Foot(2 ) $ 169 . 22 <br /> Land Replacement Cost per Square Foot(2 ) $ 12 . 43 <br /> Total Replacement Cost per Square Foot of Building, 2004( 3 ) $ 181 . 65 <br /> Total Impact Cost per Functional Resident(4) $435 . 96 <br /> ( 1 ) Source : Table V-4 <br /> (2 ) Source : Table V-6 <br /> (3 ) Sum of building replacement cost and land replacement cost. <br /> (4 ) Square feet per functional resident ( Item 1 ) multiplied by the total cost per <br /> square foot of building (Item 3 ) . <br /> Credit Component <br /> To avoid overcharging development for the public building impact fee , a review of the <br /> capital financing program for general county administrative services was completed . The <br /> purpose of this review was to determine any potential revenue credits generated by new <br /> development that could be used for capital facilities , land , and equipment expansion of <br /> the general county administrative program . Revenue credits are then applied against the <br /> cost per functional resident so that new development is not charged twice for capital <br /> revenue contributions . <br /> The following sources of revenue will be considered in the public building impact fee <br /> credit calculation : <br /> • Local revenues used to pay for government building debt service ; <br /> • Local revenues anticipated to be used to fund future capital expenditures ; and <br /> • Local revenues generated from taxes paid on vacant land . <br /> Debt Service Credit <br /> According to the County , there is currently no debt service on public facilities . <br /> Therefore , debt service credit is zero at this time . <br /> Capital Improvement Credit <br /> An analysis of the historical and future public building capital expenditures for the eleven <br /> year period from FY 1998/99 to FY 2008/09 was completed and reviewed with the IRC <br /> General Services Department and Office of Management and Budget . <br /> Tindale -Oliver & Associates , Inc . Indian River County <br /> May 2005 V -9 Impact Fee Study <br />