Laserfiche WebLink
• <br />• <br />Indian River County 1 Impact Fee Update Study <br />This Appendix provides a summary of building and land value estimates for all impact fee <br />program areas with the exception of transportation and educational facilities. Information <br />related to transportation cost estimates is included in Appendix C and cost estimates for <br />educational facilities is included in Appendix G. <br />Building Values <br />For all of the program areas, the following information was reviewed to estimate building <br />values: <br />• Recent construction completed by Indian RiverCounty4(ifr.any); <br />• Estimates for any planned facilities; <br />• Insurance values of existing facilities;:` <br />:' <br />• Data from other jurisdictions for recentycompletedfacilities; and t <br />• Discussions with architects/contractors. <br />P <br />The following paragraphs provide a summaryMfor each program area. <br />Correctional Facilities ; <br />As presented in Table F-1, the construction:`copst�associatedwith the County's most recent <br />A a• Cie <br />jail addition (completed in 2008)1 was $288;:=per square foot. There are no estimates <br />available fofuture jail additionsdtthe insurance values of the existing jail buildings <br />.. <br />1444 <br />ranged from $140 to.$220 pertsquare foot It is/important to note insurance values are <br />Vic; <br />considered to provide estimates abelow the full cost since they typically do not take into <br />consideration certain building components, such as foundation, architectural/design cost, <br />furniture/fixtu_re/equipmentsecurity features, etc. <br />Recent jail construction in other Florida counties and estimates obtained from construction <br />companies and architectssuggested a range of $225 to $445 per square foot Given all this <br />Nticr <br />information, a unit cost of $250 per square foot for jail buildings is used in the study. This <br />figure is approximately 8 percent higher than that used in the 2005 study ($232 per square <br />foot) and 22 percent lower that the figure used in the 2007 impact fee study ($321 per <br />square foot). Given that the most recent jail construction in Indian River County was <br />completed at a cost of $288 per square foot, $250 per square foot represents a <br />conservative estimate. <br />Tindale -Oliver & Associates, Inc. <br />January 2014 <br />Indian River County <br />F-1 Impact Fee Update Study <br />