Agenda - 10-07-2008 - 4n - Laserfiche WebLink

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pRq~' SCHOOL IMPACT FEES: Oluw~e Courrrr SCHOOIS Orange County, North Carolina SCHOOL CONSTRUCTION COSTS TischlerBise analyzed costs for school construction in the Orange County School District. Costs for completed school projects in the Orange County School District were provided by the Orange County Budget Office. TischlerBise adjusted the costs to current (2007) dollazs, where appropriate, using Marshall Valuation Service Comparative Cost Multipliers.6 Current school costs represent the average costs to construct elementary, middle, and high schools in the Orange County System. As shown in Figure 8, construction costs average around $187 per square foot. Specifically, the costs are as follows-Elementary: $186.85 per squaze foot; Middle: $187.63 per squaze foot; and High: $187.76 per squaze foot. Figure 8. School Project Costs Schoo] Year (actual Original Marshall Sw~ Current Cost Square Cast Capacity Cost Project or planned) Cost (1] Cost Multiplier !z1 (adj. $) I3) Feet Per Sq Ft (Students) Per Student Total $11,425,220 $]5,935,714 85,282 $186:85 `: 576 $27,666 Middle Higk $32,969 -- Total $28,155,664 $38,847,890 206,90D ...$187.76 1,000 $38,848 GRAND TOTAL $77,862,193 415,182 $187.53 2,276 $34,210 (1] Costs include school construction, site deoelopment, fees, equipment, technology, contingency, and start-up casts (land not included and addressed separately). I2] Marsha!( Valuation Service Comparatiae Cost Multiplier far Class C buildings (structures with nuuonry bearing wafts) for Raleigh, NC. (3] Adjustrd to current dollars using the Marshall Valuation Service Comparatiae Cost MaI tiptiers. Sources: Orange County; Marshall Valuation Seroice; ZischierBise LAND COSTS Orange County Schools anticipates the need to purchase land for futrxre school sites to accommodate school capital needs brought about by growth in the County. Per Orange County Tax Assessor's office, suitable sites for public schools served by public water and sewer currently average $25,000 per acre. e Marshall Valuation Service (Marshall & Swift/Boeckh, LLC) Comparative Cost Multipliers are used to convert historical costs to present-day costs. 'The published indexes and multipliers are speciTically for construction costs taking into account costs of building materials and labor. Multipliers used for Orange County are for Raleigh, NC and for Class C properties (buildings with masonry or concrete exterior walls and wood or steel roof and floor structures, except for concrete slab on grade). TtSChler~ise 15 nse:~, [a+a~niea~.Pli»tnp tairuti~nti