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<br />Demolition:
<br />Demolition 8c Clearing
<br />$800,000 @ 56% / 44% ~448,000 5352,000
<br />Envir. Consultant Fees: 100% $150,000
<br />Hazardous Material Abatement:
<br />(This eazpense is unknown) ~448 000 $352,000
<br />Sub Total $10,454,348 $7,095,792 $6,875,540 $1,237,500
<br />Soft Cost:
<br />Architect Fee 6% ~562,808 $425,748 $371,318 $74
<br />250
<br />Const. Interest * for 2 yrs $1,500 000 S1,pOp,ppp ,
<br />Project Consultant Fees: ~110,000 ~110,000
<br />ProjeCt Mgm. 5% $521,307 $354,790 $309,432 $123
<br />750
<br />Legal Fees: 5150 000 $Sp~ppp ,
<br />~~5
<br />000
<br />Loan & Cost of Issuance $215,000 $139,000 ~
<br />~67
<br />500
<br />Relocation a150,000
<br />$143,000 ,
<br />Properiy Acquisition a983,000 $2,321,781
<br />Appraisal Fee: $10
<br />000
<br />Const. Interest 9% x 60% 1.5 yrs ,
<br />~125
<br />000
<br />Leasing Fees: @ 7% 5 to 10 yrs 5500,000 $60,480 ,
<br />$140
<br />000
<br />Lease Up Resetves ~450,000 ,
<br />$150
<br />000
<br />InvestorReserves @ 8°/d2 yrs ,
<br />$112
<br />000
<br />Sub Total Soft Cost $4,192,115 $2,979,538 $3,256,011 ,
<br />$877,500
<br />Sub Total of Project: $14,646,463 510,075,330 $10,131,551 $2,115,000
<br />Contingency Account @ 5% $730,913 $503,766 $507,432 $105
<br />750
<br />Sub Total of Project: $15,377,376 $10,579,096 $10,638,983 ,
<br />$2,Z20,750
<br />Plus: Federal Matching Funds: $459,000
<br />Sub Total of Prnject: $15,836,376
<br />Less Pmt. Fed Match/T'ransit a2,233,585 a459,000
<br />Less Pmt. Relocation 5143,000
<br />TOTAL $15,693,376 $8,345,511 $10,179,983 $2,220,750
<br />The estimated budget will change once worlung plans and bids are completed.
<br />Caution: Review Federal Matching Funds, Transit is over the budget of 9.3 million.
<br />*Caution: More time is needed to review the construction interest account for the project in compazison
<br />to the time line for the development. Marion County may use funds other than C.O.P.'s for the first 3 to
<br />6 months of the construction time line.
<br />Caution: The TI's allowance is only $30.00 per / sf.
<br />Caution: The environmental clean up estimates for sub-surface impacted soils and De-watering for the
<br />Chevron site are not completed as of 3/19/97. Estimates are to be completed in one week. It will also be
<br />unknown until he site is excavated as to the actual cost of soil clean up.
<br />ctsum.wb3
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