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A. INTRODUCTION <br />This section of the report looks at the cost associated with each <br />of the master plan options.These estimates are general in nature <br />at this early stage of planning. However the estimated costs are <br />based on historic cost for public works construction in our region. <br />There are a number of possible project aspects that can affect the <br />cost of a project, such as: <br />• Poor soil conditions <br />• Contaminated soil conditions from previous uses <br />• Level of ground water is high <br />• Restrictive development standards <br />• Higher requirement for sustainability such as LEED <br />In general the square foot cost shown in the following <br />estimates represent the mean range that we would anticipate <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 four options with inflation <br />added are as follows: <br />Option A <br />• Construction $1 1,563,571 <br />• Soft Cost Estimate $1,500,000 <br />Estimated 2017Total Project Cost $ 13,063,571 <br />Option B <br />• Construction $ 12,226,835 <br />• Soft Cost Estimate = $1,500,000 <br />• Estimated 2017 Total Project Cost $ 1 3,726,835 <br />VII. Project Cost Estimates <br />Option C <br />• Construction $1 1,508,446 <br />• Soft Cost Estimate = $1,500,000 <br />• Estimated 2017Total Project Cost $13,008,446 <br />Option D <br />• Construction $1 1,343,071 <br />• Soft Cost Estimate = $1,500,000 <br />• Estimated 20I 7 Total Project Cost $ 12,843,071 <br />The difference between the high and low estimate is $883,764. <br />Since all concept plans are based on providing the same amount <br />of building area the primary difference in the cost is based on: <br />I . Reuse of existing or new cold storage buildings <br />2. Relocation of the existing salt storage shed <br />3. Amount of site development required <br />VII.1 I Ramsey Public Works Study <br />DRAFT <br />BKV <br />GROUP <br />