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• <br />• <br />Indian River County I Impact Fee Update Study <br />summary of the correctional facilities land and building inventory, including a total land <br />value of $1.8 million and a total building value of $63 million. As previously mentioned, <br />these values do not include building space or land associated with other County <br />departments. <br />The building value per square foot is estimated based on research on recently built <br />correctional facilities, discussions and information from architectural and construction <br />companies, and the insurance values of the existing correctional facilities in Indian River <br />County. This value is estimated at $250 per square foot'for correctional facilities and $125 <br />per square foot for the other ancillary facilities included`in the inventory. Appendix F <br />provides further detail on the building cost estimates. / <br />The land value for correctional facilities is estimated at $50,000 .per.; acre based on an <br />- <br />analysis of vacant land values and parcels sold,in the County over th'e, last three years as <br />well as the value of land where, the current facilities are located (see'Appendix F). <br />Tindale -Oliver & Associates, Inc. <br />Indian River County <br />January 2014 10 Impact Fee Update Study <br />