Laserfiche WebLink
Indian River County 1 Impact Fee Update Study <br />summary of the correctional facilities land and building inventory, including a total land <br />value of $1.8 million and a total building value of $63 million. As previously mentioned, <br />these values do not include building space or land associated with other County <br />departments. <br />The building value per square foot is estimated based on research on recently built <br />correctional facilities, discussions and information from architectural and construction <br />companies, and the insurance values of the existing correctional facilities in Indian River <br />County. This value is estimated at $250 per square foot for correctional facilities and $125 <br />per square foot for the other ancillary facilities included in the inventory. Appendix F <br />provides further detail on the building cost estimates. <br />The land value for correctional facilities is estimated at $50,000 per acre based on an <br />analysis of vacant land values and parcels sold in the County over the last three years as <br />well as the value of land where the current facilities are located (see Appendix F). <br />Tindale -Oliver & Associates, Inc. Indian River County <br />June 2014 12 Impact Fee Update Study <br />4? <br />