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Page 2 of 2 <br /> <br />An opinion of probable costs (preliminary construction cost estimate) based on 60 percent complete <br />design of the proposed improvements is provided in Attachment B. A summary of the total project <br />cost estimate is provided in the following table. <br />Construction Cost Estimate: $242,360 <br />Engineering and Surveying: $ 41,140 <br />Construction Administration: $ 5,400 <br />Material Testing: $ 1,500 <br />Security Camera and Setup: $ 4,800 <br />Contingency: $ 4,000 <br />Total Estimated Cost: $299,200 <br /> <br />Financial Impact <br />The preliminary project cost estimate as provided above is approximately $119,400 more than the <br />current project budget provided in the 2020 Capital Improvement Program of $175,000 plus the <br />estimated operating budget cost for the security camera at $4,800. The CIP identifies the project <br />funding source as the Equipment and Building Maintenance Fund. <br /> <br />Council Direction <br />Three options are offered to address the deteriorating condition of the parking lot. <br />1. Reconstruct the parking lot as proposed above at an estimated cost of $299,200 <br />2. Reconstruct the parking lot as proposed in Option 1, but eliminate the replacement of the two <br />light poles within the center of the parking lot ($9,000) and reduce the amount of curb and <br />sidewalk replacement ($7,000) at an estimated cost of $283,200. <br />3. Reconstruct the parking lot as proposed in Option 2, but provide additional reductions in <br />drainage improvements ($13,500) at an estimated cost of $269,700. <br />While traditional mill and overlay resurfacing is a possibility for a portion of the parking lot, this <br />option is not recommended as being cost effective due to the condition of the existing pavement. Staff <br />is seeking direction from the Council to determine the preferred option for the parking lot <br />improvements. <br /> <br />Attachments <br />Attachment A – Parking Lot Layout Plan <br />Attachment B – Preliminary Opinion of Probable Construction Costs <br />Attachment C – Example of Parking Lot Lighting Unit