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Option C: <br />SHSC Addition and Subsequent Addition of DSS Building <br />Estimated Total <br />Minimum Cost <br />Addition to SHSC: <br />• Assume 25,000 square foot addition to <br />SHSC @$350/s.f.f <br />• Assume SHSC expansion would be <br />completed no later than 3 years 6 <br />months after Board approves the <br />action. This includes 9 months SUP <br />Modification and 6 months ZCP, 6 <br />months planning, 20 months <br />construction and 1 month for architect <br />selection with Board approval. <br />Anticipated completion would therefore <br />be around January 1, 2012. This is an <br />aggressive time line. <br />• Assumes DSS would occupy new <br />space in order to maximize <br />reimbursement at the rate of 50% over <br />20 year depreciation schedule. <br />• Assume Board approves project no <br />later than July 1, 2008. <br />SHSC upfit of space vacated by DSS as <br />they move to the new section of the <br />building; <br />• Assume 10,000 square feet @$250/s.f <br />$8,750,000 <br />$2,500,000 <br />Estimated Total <br />Cost After <br />Anticipated <br />Reimbursements <br />$4,375,000 <br />$2,500,000 <br />Total Addition to SHSC $11,250,000 $6,875,000 <br />Construction of DSS building: <br />• Assume 50,000 s.f. DSS building <br />• Assume the completed building will <br />accommodate needs for five years <br />after completion of construction. This <br />would place commencement of <br />construction of new DSS building <br />sometime in 2017. <br />• Based on a very conservative 4% per <br />year construction cost escalation, the <br />square footage cost in 2017 is <br />estimated to be $426 square foot or <br />$21,291,426. $21,291,426 $10,645,713 <br />Grand Total of both additions: $31,937,139