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Ramsey Fire Station No 2 Replacement Study <br />Feasibility Study <br />Ramsey, Minnesota <br />BKV Group 1272.05 <br />Option Cost Estimates <br />BKV <br />is r'. ;,J P <br />The attached estimates outline the costs associated with the re -use concepts Option 1 and Option 2 and replacement <br />fire station Option 3 and were prepared by BKV Group based on the enclosed plan concept document. Estimates <br />should be considered as comparative only, final project budgets should be established following more detailed <br />Schematic Design efforts for any of the options explored in this report, comparisons of overall project scope, <br />however, may be made with these figures as project assumptions have been kept consistent. <br />The Preliminary Project estimates are as follows: <br />Initial Project Option Costs <br />Construction Cost "Soft Costs" / Contingency Total Project Cost <br />Option I- Stabilization $270,000 $82,262 $352,262 <br />Option II — Partial Demo $621,220 $196,345 $817,565 <br />Option III — New Construction $1,781,640 $626,353 $2,407,993 <br />Project Cost Comparison <br />Options 1 and II above each assume the construction of a new replacement fire station within five to eight years. As <br />such, a comparison to overall project feasibility should include an assessment of initial option costs (as outlined above) <br />as well as total project costs which include new construction costs and inflation costs over time. The following <br />assume a five year delay prior to construction of a new replacement fire station for Options I and 11 and compare <br />those total project costs against new construction for Option III in 2007 <br />Initial Project Scope New Construction New Construction Inflation to 2012 Total Project <br />Option I $352,262 $2,407,993 $638,883 $3,399,141 <br />Option II $817,565 $2,407,993 $638,883 $3,864,444 <br />Option Ii1 $0 $2,407,993 $0 $2,407,993 <br />As outlined above, Options 1 and II have higher long-term project costs, with Option I totaling 37% more total project <br />costs and Option II totaling 61% more total project costs then Option 111, <br />Please see the attached preliminary detailed cost estimate break -down <br />Architectural Space Program Report <br />Comm. No. 1573.02 Date <br />