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VII. Project Cost Estimates <br /> A. INTRODUCTION Option C <br /> This section of the report looks at the cost associated with each of Construction $12,412,496 <br /> the master plan options.These estimates are general in nature at Soft Cost Estimate = $1,500,000 <br /> this early stage of planning.However the estimated cost are based <br /> on historic cost for public works construction in our region. Estimated 2017Total Project Cost $13,912,496 <br /> There are a number of possible project aspects that can affect the Option D <br /> cost of a project, such as: Construction $12,247,121 <br /> • Poor soil conditions Soft Cost Estimate = $1,500,000 <br /> • Contaminated soil conditions from previous uses Estimated 2017Total Project Cost $13,747,121 <br /> • Level of ground water is high The difference between the high and low estimated is$1,031,704. <br /> • Restrictive development standards Since all concept plans are based on providing the same amount <br /> of building area the primary differences in the cost are based on: <br /> • Higher requirement for sustainability such as LEED <br /> I. Reuse or new of existing cold storage buildings <br /> 2. Relocation of the existing salt storage shed <br /> In general the square foot cost shown in the following <br /> estimates represent the mean range that we would anticipate 3. Amount of site development required <br /> for construction to occur in 2016.The construction industry is <br /> currently indicating anticipated inflation higher than what has <br /> occurred over the past 5 years.While there are many factors that <br /> can effect bidding climates , it is anticipated that yearly escalation <br /> cost will be in the 4% to 6% range. In the last year we have <br /> seen a dramatic spike in construction cost as we came out of the <br /> recession. For this reason we would suggest that the City move <br /> ahead with project planning this upcoming year with the goal to <br /> start construction in spring of 2017. <br /> The estimated cost for each of the 4 options with inflation added <br /> are as follows: <br /> Option A <br /> • Construction $12,467,621 <br /> • Soft Cost Estimate$1,500,000 <br /> • Estimated 2017Total Project Cost $13,967,621 <br /> Option B <br /> • Construction $13,278,825 <br /> • Soft Cost Estimate = $1,500,000 <br /> • Estimated 2017Total Project Cost $14,778,825 <br /> VI1.1 Ramsey Public Works Study B K V <br /> DRAFTGNOU ` <br />