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Table V1114 •.O <br /> Functional Residents Level of Service <br /> I I - <br /> . - M 14M <br /> IRC Unincorporated Area Functional Population( ' ) 759567 <br /> Existing Police Officers(2) 185 <br /> Residents per Officer 408 <br /> Officers per 1 , 000 Functional Residents 2 .45 <br /> ( 1 ) Source : Table II- 13 <br /> (2) Source : Table VIII-2 <br /> Cost Component <br /> Historical/Replacement Capital Costs <br /> The following table summarizes historical and replacement costs of existing building <br /> capital based on the information provided by the County . As presented, the cost per <br /> police officer is $ 35 , 011 . <br /> The land value shown in the table represents the replacement value and not the historical <br /> value . According to information provided by the County representatives, the historical <br /> cost of the land was $68 , 638 for 9 . 81 acres . The County ' s estimate of replacement value <br /> for this land is $ 343 , 175 , which represents an increase of 400 percent over the past 21 <br /> years . The resulting replacement cost per acre is $ 34, 982 , which is consistent with the <br /> recent $ 35 ,467 per acre purchase price of land for the new correctional facility. Finally, <br /> the replacement cost per square foot of building is $ 130 according to estimates provided <br /> by the County . <br /> (This space intentionally left blank) <br /> Tindale-Oliver & Associates, Inc . Indian River County <br /> February 2005 VIII-6 Impact Fee Study <br />