11/10/2015 Impact Fee Update - Laserfiche WebLink

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Indian River County I Impact Fee Update Study Cost Component The capital costs of providing educational facilities includes three components, including the school facility cost, transportation cost, and ancillary facility costs. This section addresses each of these components. FacilitV Cost per Student Station The first step in determining the cost of providing public schools to Indian River County residents is to calculate the facility cost per student station. Several cost components must be considered when calculating the total cost of constructing a school, including architectural/civil design/site improvement costs; construction costs; furniture,fixtures, and equipment (FF&E) costs; and the cost to purchase the land. Each component of the school facility cost is described in more detail in the following subsections. Architectural/Civil Design/Site Improvement, Construction and FF&E Costs To determine the administration, architect/civil design/site improvement, construction, and FF&E costs associated with building a new school in Indian River County, cost information was obtained for new schools built or proposed in Indian River County. The most recent construction included Storm Grove Middle School (opened in 2009), and renovation and expansion of the Vero Beach Elementary School (opened in 2012). In addition to these schools, insurance values of the existing schools and estimates included in the Educational Plant Survey for upcoming school expansions were reviewed and supplemented with discussions with the District's representatives. Given the recent fluctuations in construction costs and the limited number of schools built in the County over the past few years, a review of schools that were built over the past five years throughout the State was conducted. This database included approximately 135 schools. Of these, approximately 20 were built in 2011. Based on this information, a construction cost of $145 per net square foot was used in the study for elementary schools, $175 per net square foot for middle schools, and $185 per net square foot for high schools, with a weighted average construction cost of $165 per net square foot for all school levels. Appendix A provides additional information on cost estimates. The architectural, civil design, site preparation (including on-site improvement and traffic control costs), and FF&E costs (including technology) are calculated based on the ratio of these costs to the construction costs observed in Indian River County and other jurisdictions. These figures were also discussed with the District representatives and are Tindale-Oliver&Associates, Inc. Indian River County June 2014 130 Impact Fee Update Study I