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Old Town Hall 125K Grant 3.17.25
<br />Restoration Costs (Details in 2018 RCP Report)
<br />Markup / Inflation factor (2021) 20%
<br />PHASE 1 Climatation
<br />2018
<br />2024
<br />Low
<br />Cost
<br />Cost
<br />Quote
<br />Seal Envelope
<br />$
<br />600
<br />$
<br />720
<br />Sealed but more Work need
<br />Replace Roof & Repair Eaves (Original)
<br />$
<br />20,000
<br />$
<br />-
<br />Work done in 2018
<br />Repair Eaves / Soffits, Replace Door
<br />$
<br />-
<br />$
<br />8,062
<br />Work Done DKN 2024
<br />Replace Stairs
<br />$
<br />21F400
<br />$
<br />4,800
<br />Not Done (included in future quote)
<br />Window Repair and Paint
<br />$
<br />3,256
<br />Work Done DKN 2024
<br />Pest Removal
<br />$
<br />21179
<br />(includes 2021 Pest Removal)
<br />Total Phase 1 (est.)
<br />$
<br />23,000
<br />$
<br />19,017
<br />Work Completed to date
<br />$
<br />20,000
<br />$
<br />13,497
<br />$ 33,497 (Total spent since 2018)
<br />Phase 2 Pre -Occupancy Upgrade
<br />2018
<br />2021
<br />2024 Cost
<br />Cost
<br />Cost
<br />Estimate (remaining repairs)
<br />Repair and Restore Windows
<br />$
<br />1,350
<br />$
<br />1,620
<br />$ - (Work Completed in 2024)
<br />Repoint Chimney
<br />$
<br />1,000
<br />$
<br />11200
<br />$ 1,500 (TBD)
<br />Install ADA Ramp, Sidewalk, Stairs
<br />$
<br />4,850
<br />$
<br />5,820
<br />$ 34,000 (Concrete)
<br />Install Doors, Plumbing, Hvac
<br />$
<br />2,600
<br />$
<br />3,120
<br />$ 28,270 (Duct Work, Doors Exc.)
<br />Air Conditioning (not previously included)
<br />$ 5,500 (estimate)
<br />Restore Wood Floor, Install Tile
<br />$
<br />4,500
<br />$
<br />5,400
<br />$ 10,076
<br />Finish Interior / Misc. Labor / Doors
<br />$
<br />3,940
<br />$
<br />41728
<br />$ 29,500 (Door and Soffits Done)
<br />Overhead / Profit / Management / Permit
<br />$ 14,786
<br />Total Phase 2 (estimated)
<br />$
<br />18,240
<br />$
<br />21,888
<br />$ 123,632 $ 129,814 5% Inflation
<br />Work Already Completed (2018-2024)
<br />$ 33,497
<br />Total Project Cost Estimate
<br />$ 157,129 $ 163,311 5% inflation
<br />Grants (NHS, etc...)
<br />$ 125,000
<br />$ 38,311
<br />Lease Revenue (Proposal)
<br />Month
<br />Annual
<br />Less Taxes Maintenance Net
<br />Year 1
<br />$
<br />11100
<br />$
<br />13,200
<br />$ - $ 1,000 $ 12,200
<br />Year 2
<br />$
<br />11133
<br />$
<br />13,596
<br />$ 3,027 $ 1,010 $ 9,559
<br />Year 3
<br />$
<br />11167
<br />$
<br />14,004
<br />$ 3,118 $ 1,020 $ 9,866
<br />Year 4
<br />$
<br />11202
<br />$
<br />141424
<br />$ 3,211 $ 1,030 $ 10,182
<br />$
<br />55,224
<br />$ 9,356 $ 4,060 $ 41,807 $ 3,497
<br />*Breakeven point sometime in Year 4
<br />Property Taxes (Commercial / 3A)
<br />Land Value (*County Assessed Value)
<br />1171400
<br />Building Value (778 SF * $70/sf)
<br />541,460
<br />Taxable Market Value
<br />171,860
<br />Estimated Taxes / Annual
<br />$
<br />3,027
<br />*City Portion
<br />$
<br />1,059
<br />
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