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fir► <br /> Unit Cost <br /> Table III4 presents the unit cost that will be used for the impact fee analysis . This unit <br /> cost was calculated as the addition of the building replacement cost and the equipment <br /> cost, which totals $ 54,271 per bed . The table shows a cost per functional resident of <br /> $241 under the LOS standard of 4 . 44 beds per 1 , 000 functional residents . <br /> Table III =8 <br /> Unit Cost per Functional Resident <br /> �N <br /> Building and Land Replacement Cost per Bed ' ) $ 515633 <br /> Equipment Cost per Bed(2) JZ1638 <br /> Total Capital Cost per Bed(3) $549271 <br /> Level of Service(4) (Beds/1 ,000 Functional Residents) 4 .44 <br /> Total Capital Cost per Functional Resident(5) $240 .96 <br /> ( 1 ) Source : Table III-5 <br /> (2) Source : Table III -6 <br /> (3 ) Sum of building replacement cost per bed (Item 1 ) and equipment cost per bed <br /> (Item 2) . <br /> **AW (4) Source : Table III-4 <br /> (5 ) Total cost per bed (Item 3 ) multiplied by level of service (Item 4 ) divided by 1 ,000 . <br /> Credit Component <br /> To avoid overcharging new development for the capital cost of providing correctional <br /> facilities, a review of the capital financing program for correctional facilities was <br /> completed . The purpose of this review was to identify any potential revenues, other than <br /> impact fees, generated by new development that could be used for capital facilities , land, <br /> and equipment expansion of the correctional facilities program . Once these revenues <br /> were identified, a credit was given against the impact cost. <br /> Revenue Sources for Capital Expenditures <br /> The IRCSO has two different sources for correctional facility capital expenditures : <br /> • General Fund <br /> • Local Option Sales Tax <br /> Table I1I-9 summarizes the capital expenditures and their funding sources over the last <br /> six years . This table also specifies whether the capital expenditure was a replacement or <br /> an expansion to existing capital facilities . <br /> Tindale-Oliver & Associates, Inc . Indian River County <br /> February 2005 III-9 Impact Fee Study <br />