The replacement cost of public structures is calculated as the cost of purchasing or building a new structure, with an area and quality similar to or better than those of the affected structure, or of repairing a partially affected structure, including labor and contractors’ fees and transaction costs such as registration and transfer taxes.
ReferencesInternational Finance Corporation. 2006. "Glossary of Terms." *[IFC Policy & Performance Standards and Guidance Notes](http://www.ifc.org/wps/wcm/connect/9a9464804885598c8364d36a6515bb18/Glossary%2Bof%2BTerms.pdf?MOD=AJPERES&attachment=true&id=1322803900995)*. Washington D.C.: International Finance Corporation.
[*Last Accessed* 1 November 2013]