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6 <br />n <br />In June of 1990 the OPC Board approved a plan to complete the lower level <br />renovation and to acquire a modular. Amounts approved included up to $50,000 <br />for the modular (excluding architect fees, phones, moving, security, sidewalk <br />access, decking, etc.) and $95,000 for the renovation ($8500 of this is <br />architect fees). <br />Cost per <br />Cost per <br />Cost per <br />Cost per <br />Rental <br />square foot to <br />square foot to <br />square foot to <br />square foot fo <br />Modular <br />Purchase <br />purchase: $36.00 (based on $50,000) <br />rent: $15.00 <br />renovate: $28.40 <br />r addition: $64.28 <br />Renovation Renovation <br />(With Modular) (With Addition) Addition <br />1 Year $ 20,160 $ 501000* $95,000 $65,000 - $70,000 $90,000 <br />10 Years $201,600 $ 50,000 <br />*Does not include expenses such as phones, moving, security systems, <br />sidewalk access, decking, etc., $38,428 for building, delivery, set -up <br />and skirting. <br />The renovation expenses decrease slightly due to elimination of certain items <br />previously planned that can now be done more inexpensively due to the <br />immediate proximity of the addition. <br />Total Modular ($50,000) and Renovation ($95,000) _ $145,000 <br />Total Addition and Renovation ($160,000 + $6500 *) = $166,500 <br />Increased Cost - $ 21,500 <br />*Architectural fees will increase-to $15,000 ($6500 additional cost) making <br />total $166,500. <br />Above are rough estimates of expected costs. <br />OPC will need to follow the laws for local government that regulate bid <br />procedures. <br />N <br />