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Indian River County I Impact Fee Update Study <br /> Law Enforcement <br /> The most recent land purchase for law enforcement facilities was made in 2011, for a price <br /> of $355,000 per acre. However, because the parcel included structures, this price is <br /> considered to be higher than what the County is likely to pay in the future for vacant land. <br /> Discussions with the County and Sheriff's Office suggested that future expansions outlined <br /> in the Master Plan are likely to be located on the existing Jail/Sheriff's Complex and the <br /> recently purchased land. The current value of existing parcels is approximately $50,000 per <br /> acre based on information obtained from the Indian River County Property Appraiser. <br /> Given this and the range of related vacant land values and sales is of $13,000 per acre to <br /> $66,000 per acre, an estimate of$50,000 per acre is used for land value in the <br /> calculation <br /> of <br /> law enforcement impact fee. This figure represents an increase of approxY <br /> 40 <br /> percent from the 2005 study ($35,000 per acre) and a decrease of 70 percent from the 2007 <br /> study ($184,000 per acre). <br /> Indian River County <br /> Tindale-Oliver&Associates, Inc. Impact Fee Update Study <br /> June 2014 F-10 <br />