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Indian River County 1 Impact Fee Update Study This Appendix provides a summary of building and land value estimates for all impact fee program areas with the exception of transportation and educational facilities. Information related to transportation cost estimates is included in Appendix C and cost estimates for educational facilities is included in Appendix G. Building Values For all of the program areas, the following information was" -reviewed to estimate building values: • Recent construction completed by Indian,River County;(if'any); • Estimates for any planned facilities; • Insurance values of existing facilities;;: / • Data from other jurisdictions for recentlyscompleted<facilities, and- • Discussions with architects/contractors. \s/- The \/ The following paragraphs provide a summary for each program area. Correctional Facilities As presented in Table: F-1, the""construction`cost associated with the County's most recent jail addition (completed :in 2008) was $288: per square foot. There are no estimates available: for= future jail additions,. and'the insurance values of the existing jail buildings ranged .from $140 to.$220 -per square foof._-,,It is important to note insurance values are cons• id'e`red to provide,estimatesbelow the full cost since they typically do not take into consideration certain building components, such as foundation, architectural/design cost, furniture/fixture/equipment;;security features, etc. Recent jail constructionin other' Florida counties and estimates obtained from construction companies and architectssuggested a range of $225 to $445 per square foot. Given all this information, a unit cost of $250 per square foot for jail buildings is used in the study. This figure is approximately 8 percent higher than that used in the 2005 study ($232 per square foot) and 22 percent lower that the figure used in the 2007 impact fee study ($321 per square foot). Given that the most recent jail construction in Indian River County was completed at a cost of $288 per square foot, $250 per square foot represents a conservative estimate. Tindale -Oliver & Associates, Inc. Indian River County January 2014 F-1 Impact Fee Update Study