Agenda - 05-26-1992 - Laserfiche WebLink

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IPage - 7 the construction cost. Both of the additional costs are recommended by the State for school planning purposes. As was the case with building construction costs, limited data was available for land acquisition and site - related development costs. Land for the New Hope Elementary School cost approximately ' $11,000 per acre, while site improvements were approximately seven percent of the building construction cost, including design fees and furnishings. In the case of site development cost, the new elementary school required that public water and sewer service be 1 extended a considerable distance from the Town of Hillsborough system. These costs might be reasonable for a school located in a rural setting, but they could be considerably higher in the chapel ' Hill - Carrboro area. In preparing estimates of construction cost for its proposed new schools, the Chapel Hill- Carrboro School Board found that land prices in areas where schools might be located varied from $24,000 to $30,000 per-acre. Across the Durham County line, land price ' estimates for proposed new elementary schools ranged from $26,000 to $40,000 per-acre. Given the wide range of possible land prices, $25,000 per acre was selected for use in calculating impact fees. It not only represents the midpoint in the range of prices, but it ' reflects the low end of the price scale in urban settings. Site development costs include a wide array of improvements, ' ranging from playfields, entrance drives, car /bus parking lots, landscaping, and utility lines to new stadiums for high schools. For elementary and middle schools proposed by the Chapel Hill- ' Carrboro School Board. such costs represented 10 percent of the total building construction cost, including design fees and furnishings. For a high school, the cost increased to 25 percent, principally because of the need for a stadium. Across the Durham ' County line, site development costs represented 14 percent of total building construction cost. Because of the variation in site development cost, the midpoint of 15 percent was selected for use ' in calculating impact fees. Using the cost data outlined above and N.C. Department of ' Public Instruction standards for school capacity and square feet of building area per student, the construction cost of elementary, middle, and high schools as well as the capital cost per student for each type of facility may be calculated. These calculations are ' shown in Table S. Multiplying the service provision standards, per demand unit, by the capital cost per unit of service establishes the capital ' improvement cost per unit of development. This also may be expressed as a formula: ' Total Cost = Needed Improvements x Cost Per Unit Detailed calculations of the capital improvement cost associated with each type of housing unit are presented in Table 9. IPage - 7