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Evaluation of Feasibility of Relocating Utah State Prison

Evaluation of Feasibility of Relocating Utah State Prison. October 31, 2005. Feasibility is a product of cost of rebuilding equivalent prison facilities less the value of the property and any other economic benefits or revenues. Existing Complex Site.

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Evaluation of Feasibility of Relocating Utah State Prison

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  1. Evaluation of Feasibility of Relocating Utah State Prison October 31, 2005

  2. Feasibility is a product of cost of rebuilding equivalent prison facilities less the value of the property and any other economic benefits or revenues

  3. Existing Complex Site

  4. Construction Cost to Replace Draper Prison($2005$) Full Relocation Partial Relocation Moderate $422 million $128 million Low $417 million $119 million High $475 million $132 million Carter Goble Associates, Inc. Cost variations result from alternative corrections planning and population management approaches as well as differing unit cost levels.

  5. Additional Costs

  6. Value of Draper Prison Property

  7. Assumes the state sells to a private developer and uses costs of capital available to the private sector Market Value

  8. Assumes the public sector (the state) is the investor and uses the state’s more beneficial cost of capital Investment Value

  9. Highest and Best Use

  10. Mixed-Use Business Park

  11. Water Shares $1.8 million Other Revenues($2005$) Net Fiscal Impact to Draper (20-Year NPV) $13.6 million

  12. Replacement Locations • Full Relocation: • Box Elder County • NE Juab County • Tooele County/Rush Valley • Partial Relocation: • Carbon County • Iron County

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