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Indian River County 1 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 calculation of <br />law enforcement impact fee. This figure represents an increase of approximately 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 />Tindale -Oliver & Associates, Inc. Indian River County <br />June 2014 <br />F-10 Impact Fee Update Study <br />