Current Replacement Value - BICE

National Research Council (1990)_ Current Replacement Value is defined as either of the following: a. The current unit construction cost (e.g. dollars per square feet) multiplied by the total number of square feet for each type of facility in the inventory [of the agency]. The original total cost of each facility in the inventory multiplied by an escalation factor, with adjustments for subsequent enlargements or upgrades (not including money spent on the facility to maintain it or restore it).