Agenda - 02-26-1996 - 5a - Laserfiche WebLink

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17 0S7 Capital Cost The principal source of data for estimating the capital cost of park improvements was the Master Recreation &Parks Plan. However, because the Plan was prepared in 1987, it was necessary to confirm that the cost estimates were still accurate, particularly for facilities such as community centers and ball fields, and land acquisition. Shown on Table 7 is a comparison of the 1987 cost estimates and those for 1995. There were three sources for the 1995 estimates, including the City of Mebane Recreation Department, Woolpert Associates, the consulting firm that prepared the Master Recreation &Parks Plan, and Urban Land Institute publications. Provided below is a summary of the main differences in the two sets of cost estimates. • Community Centers. In 1992, Orange County completed construction of the Efland-Cheeks facility. Containing approximately 3,000 sq.ft., the center cost $239,300 to build or $80 per square foot. Although the price per square foot is comparable with that used in the Master Recreation & Parks Plan, estimates obtained from Woolpert Associates indicated that the 1995 cost for a community center, including gymnasium, was $100 per square foot and that a typical community center contained 10,000 square feet. Because the Woolpert data is more recent, it has been used in this report. • Ball Field Complex. The City of Mebane recently completed such a facility in conjunction with its new arts center. The total cost of the ball field complex, including four fields, scoreboards, concession center and bathrooms, lights, and grading and site work was $1,155,000. Although lower than the $1.5 million estimate used in the Master Recreation & Parks Plan, the Mebane cost was considered more accurate and used in this report. • Land Acquisition. A significant concern in terms of cost data is the price per acre to be paid for park land. As noted in Table 1, the average price per acre for 25-acre tracts appears to be approximately $3,500, with ranges from $1,300 to $6,500 per acre possible. Prices per acre for 75-acre tracts are somewhat lower. In the Master Recreation & Parks Plan, the average price per acre used to calculate land acquisition costs was $10,000 per acre. While this price may seem high in comparison to the sales data presented in Table 1, it is low when compared to the price per acre paid for new school sites. As an example, the 28-acre tract on which the New Hope Elementary School is located was acquired at a price of$15,000 per acre. Nearby, the 34-acre site of the new A L. Stanback Middle School was acquired for$22,500 per acre. While these prices may reflect the intended use of the sites for school purposes, they suggest that the data contained in Table 1 is to low to estimate land acquisition cost. Since the $10,000 figure appears to reflect a mid- range price, it has been retained as the average price per acre to be paid for land acquisition. • Golf Course. A public golf course was proposed in the Master Recreation &Parks Plan for the Chapel Hill District Park. In the 1994 edition of Golf Course Development&Real Estate, published by the Urban Land Institute (ULI), the cost of a typical 18-hole golf course was