[Okgrantsmanship] Value of Real Estate in Grant Budget Planning

[Mason, Linda]

Dear CGR members,

 

In investigating the cost of real estate for budget planning, I have
found the following resources:

 

Classroom: Dallas = $146/square foot; Kansas City = $175/square foot

Laboratory: Dallas = $156/square foot; Kansas City = $187/square foot 

Student Union (including restaurant space, office space, retail space
and assembly space): Dallas = $134/square foot; Kansas City =
$160/square foot

 

"Cost Per Square Foot of Building Types by Region," provided by EV
Studio: Architecture, Engineering, Planning, dated May 2010, online at
http://evstudio.info/cost-per-square-foot-of-college-building-types-by-r
egion/. 

 

The Presbyterian Health Foundation Conference Center rental rates for
the videoconference-capable space are the following: $200/hr; $600/1/2
day; $1,000/day

http://www.phfcc.com/facilities-executive.htm

 

Andrea Deaton, OU, said that they do not typically use space as an
inkind matching cost, because the F&A costs should cover the cost of
space. They use an average of $10/square foot cost on the OU campus for
those budget requests for actual space. The College of Continuing
Education leases property often, and they get an actual quote for cost
of actual property that they want to lease. It must include all the
attached services, such as utilities, custodial services, parking, etc.
as applicable. 

 

A best practice for requesting funds for space will be to go to an
actual space that you want to lease or purchase with grant funds, and
get a current quote of cost from a realtor or owner. 

A best practice for estimating the value of inkind support in the form
of space is to be sure that space is not part of the negotiated F&A rate
for your university. If you are sure that space is not included, or if
you do not have a negotiated F&A rate, then use some of the information
above in calculating the value of your space.

 

I will be happy to help further in this quest for information! Just let
me know. 

 

 

Linda Mason, Ed.D.

Coordinator of Grant Writing Assistance

Oklahoma State Regents for Higher Education

655 Research Parkway, Suite 200

Oklahoma City, OK 73104

405-225-9486

405-225-9230 FAX

lmason at osrhe.edu

www.okhighered.org/grant-opps/

 

 

 

Linda Mason, Ed.D.

Coordinator of Grant Writing Assistance

Oklahoma State Regents for Higher Education

655 Research Parkway, Suite 200

Oklahoma City, OK 73104

405-225-9486

405-225-9230 FAX

lmason at osrhe.edu

www.okhighered.org/grant-opps/

 

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