Laserfiche WebLink
Indian River County 1 Impact Fee Update Study <br />Given this data, the value of prime buildings is estimated at $200 per square foot and the <br />support buildings at $50 per square foot. The value for support buildings took into <br />consideration the insurance values of not only law enforcement support buildings, but also <br />those of public buildings, as presented in Table F-4. These unit figures provided a weighted <br />average cost of $197 per square foot, which is 50 percent higher than the value included in <br />the 2005 study, which was based on historical costs provided by the County and is the same <br />value included in the 2007 study. <br />Table F-3 <br />Law Enforcement BuildingValue <br />Source <br />Construction of Crime Scene Investigation Center •„ <br />Year <br />2013;x=\ <br />Building Cost per <br />Square Foot <br />$197 <br />Future PlannedFacilities(2 <br />N/A'; <br />$250 to $300 <br />Insurance Values of Existing Buildings (prime)(3) =` • <br />2013 <br />'�. $165 <br />Insurance Values of Existing Buildings.(support)(4 <br />2013 <br />; $65 <br />Recent Public Building Construction in -Other Florida Counties(,$).-", <br />2010-2012 <br />$175 - $270 <br />Used in the Study-- Prime Buildings - �:: ••2013 <br />$200 <br />Used in the Study-- Support Buildings ` <br />• 2013 <br />$50 <br />ource: Indian River County <br />(2) Source: Indian River County Sheriff's Master Pfan.. -1 ` <br />3) Source: Indian River County, includes buildings forwhich information was available <br />4) Source. Indian River County, includes buildings for -;which information was available <br />5) Recent impact fee studies, represents weighted average of prime and support buildings <br />Public Buildings <br />Similar, to>.Iaw enforcement buildihgs,public buildings also tend to include a wide range of <br />buildingss.uch as offices,' courthouses, maintenance buildings, parking garages, etc. as well <br />as prime ver'sussupport buildings. The most recent public buildings constructed in Indian <br />River County were completed in' 2007. Given the changes in construction costs since then, <br />these cost figures were= considered outdated and not used. The County has plans to add <br />approximately 10,000 square feet of courtroom space over the next five years, and the cost <br />associated with this expansion is estimated at $200 per square foot. As presented in Table <br />F-4, the insurance value of existing prime buildings averaged $210 per square foot and <br />support buildings averaged $46 per square foot. Finally, the building value of prime and <br />support facilities in other Florida jurisdictions for which information was available, range <br />from $135 to $200 per square foot. <br />Tindale -Oliver & Associates, Inc. Indian River County <br />January 2014 F-5 Impact Fee Update Study <br />