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Supplemental Questions for Mitigation Projects 1 . What is the net present value of project benefits (A) ? What is the total project cost estimate (B) ? The benefit cost ratio for the entire project will be calculated by dividing the net present value of project benefits (A) by the total project cost estimate (B) . A narrative description of the methodology utilized in the analysis, including any assumptions made when conducting the Benefit-Cost Analysis must be provided. The narrative statement should also include any documentation of hazard and damage data utilized, and copies of summary reports from the Benefit-Cost Analysis software utilized. This mitigation project aims to harden a new senior center being built by the Indian River Council on Aging (Council) . The total cost of the project is $ 305 , 558 . The project costs include obtaining and installing impact rated hurricane shutters for all windows and doors in the new facility as well as a 250 KW generator and the electrical preparation work for the generator. Completion of the project will result in a new senior center to service the county ' s large aging population as well as an emergency shelter that meets the American Red Cross ' s shelter guidelines . The center' s capability as an emergency shelter is very important in that it will help to reduce the county ' s current shelter deficit by 400 spaces . The benefit cost ratio for this mitigation project is 1 . 79 . A level one analysis was performed for this mitigation project . The methodology and documentation of the benefit cost analysis follows . The benefit — cost analysis summary and report are attached . Building Information The new facility will be fully engineered and will be built to resist winds up to 140 miles per hour. The building site was determined to be five miles inland based on local maps . The building is one story above grade according to building plans . The construction date is listed as 2003 . Construction has not begun on the building, although all plans and site permits have been obtained . Construction will begin when the Council acquires at least two-thirds of the construction costs . There are no historic building controls because this project involves new construction . The total floor area and the area occupied by the owner are both 15 ,000 square feet. The square footage is taken from the building plans . The building replacement value was determined to be $243 per square foot based on the total construction cost. The building replacement value was obtained by dividing the total construction cost ($ 3 , 651 ,465 ) by the total square footage ( 15 , 000 ) . Because this project involves new construction, the percent building damage that would result in demolition was set at 50% according to the wind module technical manual . Building Contents The total value of contents was determined by using FEMA ' s default value of 30% of the building replacement value , which is $ 1 ,095 ,439 . The facility ' s content will include : furniture, computers , medical equipment, and kitchen equipment. Displacement Costs Due to Wind Damage The rental cost of temporary building space was determined using FEMA ' s default value of one dollar per square foot, resulting in a total displacement cost of $ 15 , 000 . A total of $ 500 of one time displacement cost was determined using FEMA ' s default value . Value of Public/Non-Profit Services The Council currently provides essential senior services to the residents of Indian River County and the new facility will also serve as an emergency shelter for the entire community . The Council ' s current services include : Meals on Wheels, transportation services , and home care, among others . The Council ' s $4 ,651 , 963 annual budget covers the cost of these essential services . The cost of providing these services per day was calculated to be $ 12 , 745 . A post-disaster continuity premium is applicable to this project because it will serve as an emergency shelter . The premium was determined using