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5. FINANCING <br />5.1 Opinion of Probable Cost <br />A detailed breakdown of the Cost Opinion for the proposed project is included in <br />Appendix B of this report. The opinion of cost is based on estimated prices and <br />incorporates the construction cost experience for the Armstrong Boulevard and Bunker <br />Lake Boulevard project in 2011. The opinion of probable cost includes a 10% <br />contingency and administrative costs of 21% for engineering, legal, financing, and other <br />administrative costs. The project costs are summarized below. <br />Armstrong Boulevard and Sunwood Drive <br />City of Ramsey, Minnesota <br />Opinion of Probable Cost <br />Street/Intersection Improvements <br />Trail <br />Storm Sewer Improvements <br />Water Main <br />Total Proposed Improvements <br />$1,460,038 <br />$ 14,128 <br />$ 168,484 <br />$ 107,066 <br />$1,749,715 <br />The above costs do not include the cost of right-of-way acquisition. <br />5.2 Temporary versus Permanent Construction <br />All construction from 25 feet south of relocated Sunwood Drive to the north project <br />limits would be permanent construction. This would include all of the trail and storm <br />sewer improvements and most of the street/intersection improvements. The only <br />temporary construction anticipated with this project is the pavement, signing and striping <br />in the transition area south of Sunwood Drive. The additional fill needed south of <br />relocated Sunwood Drive is fill that would be needed for the Interchange project in the <br />future. <br />5.3 Funding <br />The funding plan for the project will be provided as part of the final feasibility study. <br />Feasibility Report <br />Armstrong Boulevard and Relocated Sunwood Drive <br />Intersection Improvements <br />City of Ramsey, MN <br />WSB Project No. 1973-010 <br />Page 8 <br />