|
Attachment H
<br />Memo
<br />To: Sue Iverson — Interim City Administrator
<br />From: Stacie Kvilvang - Ehlers
<br />Date: November 28, 2016
<br />Subject: TCAAP Park Costs
<br />At the November 21st City Council worksession, WSB provided preliminary park
<br />improvement cost estimates for the Creek, Hill, and Town Center parks. The preliminary
<br />cost estimates totaled approximately $18,995,000 for all three parks. The current park
<br />dedication fee is projected to generate about $11,084,000 of fees to pay for the park
<br />improvements. WSB and the Master Development Team did not have an opportunity prior
<br />to the worksession to review and reconcile the assumptions behind those estimates.
<br />Additionally, the park dedication fee calculation did not include the potential fee schedule
<br />increases.
<br />WSB, Ehlers, Tradition Homes and Alex Duval subsequently reviewed the cost estimates
<br />together to review the park program assumptions, reconcile potential differences, and
<br />identify solutions for remaining cost gaps. Based on the results of this joint review, the total
<br />estimated park improvement cost estimate is now approximately $14,500,000 or about $4.5
<br />million less than the initial estimate. This cost reconciliation identifies a path that is intended
<br />to maintain the overall integrity of the park program while sensibly adjusting the fees to
<br />cover the park improvement costs.
<br />Estimated
<br />Park
<br />Improvement Cost
<br />20% Contingency
<br />25% Design/
<br />Oversight
<br />Total
<br />Creek $
<br />2,104,207
<br />$ 420,841
<br />$
<br />631,262
<br />$ 3,156,311
<br />Hill $
<br />2,527,179
<br />$ 505,436
<br />$
<br />758,154
<br />$ 3,790,769
<br />Town Center $
<br />8,031,897
<br />$ 1,606,379
<br />$
<br />2,409,569
<br />$ 12,047,846
<br />Total $
<br />12,663,283
<br />$ 2,532,657
<br />$
<br />3,798,985
<br />$ 18,994,925
<br />Reconciled
<br />Park
<br />Improvement•
<br />Estimated
<br />15% Design/
<br />Park
<br />10% Contingency
<br />Total
<br />Improvement
<br />Cost
<br />Oversight
<br />Creek $
<br />1,897,052
<br />$
<br />189,705
<br />$ 313,014
<br />$
<br />2,399,771
<br />Hill $
<br />1,885,279
<br />$
<br />188,528
<br />$ 311,071
<br />$
<br />2,384,877
<br />Town Center $
<br />7,677,097
<br />$
<br />767,710
<br />$ 1,266,721
<br />$
<br />9,711,527
<br />Total $
<br />11,459,427
<br />$
<br />1,145,943 1
<br />$ 1,890,805
<br />$ 14,496,175
<br />www.ehlers-inc.com
<br />EHLERS
<br />LEADERS IN PUBLIC FINANCE
<br />Minnesota phone 651-697-8500 3060 Centre Pointe Drive
<br />Offices also in Wisconsin and Illinois fax 651-697-8555 Roseville, MN 55113-1122
<br />toll free 800-552-1171
<br />
|