> The local cost of construction per sq ft to replace an improvement is reasonably easy to arrive at. So is the annual cost to maintain an improvement. I'm not

> The local cost of construction per sq ft to replace an improvement is reasonably easy to arrive at. So is the annual cost to maintain an improvement. I'm not sure I agree with this, since construction costs are subject to a lot of government interventions that distort the market. > The toughest part is making sure the process isn't corrupted Exactly.