Agenda - 12-11-1991 - Laserfiche WebLink

Browse Search

►� Elementary and Middle School Cost Estimate A. New Construction TOTAL PROJECT COST $36,109,632 The cost of the high school was estimated in the long -range facilities report and has not been revised because educational specifications have not been developed for this facility. A similar model to that outlined above yielded an estimated cost of $27,296,375 in 1990 dollars. These costs were inflated by 6% per year through 1996 to produce a projected actual cost of $38,720,000. How firm are these cost estimates? It was our intention when these estimates were generated that they should be conservative at the outset of the planning process because of the large number of unknown variables. It is difficult to estimate costs when a site has not been selected or tested and the nature of off -site improvements is not known. Although these issues have not been fully resolved, we certainly hope that these estimates will exceed the final bids. It should be noted that this is a very difficult market in which to project construction costs. The construction market, obviously, is depressed at this time to the extent that bids are coming in today lower than they were two years ago. The critical question is whether this climate will exist for the next several years or will the market turn around, causing bids to escalate at a higher than inflationary rate in order to adjust for the present depressed conditions. These two extremes could result in costs which vary as much as 20 %. Again, the CHCCS district has taken a conservative approach, projecting that the market has bottomed out and will recover before these three projects are bid. Elementary $8,714,613 Middle 11,872,077 B. Site Development (10 -15% of A) 2,088,004 C. Fixed Equipment (8 -12% of A) 1,250,000 D. Team Sport Facilities 750,000 E. Technology /Comm. Equip. 1.500.000 F. TOTAL CONSTRUCTION COSTS $26,174,694 G. Site Acquisition 1,200,000 H. Movable Equipment (5 -20% of A) 2,500,000 I. Professional Fees (5 -10% of F) 2,617,469 J. Administrative Costs (1 -2% of F) 500,000 K. Off -Site Improvements 500,000 L. Contingencies (5 -15% of D) 2.617.469 TOTAL PROJECT COST $36,109,632 The cost of the high school was estimated in the long -range facilities report and has not been revised because educational specifications have not been developed for this facility. A similar model to that outlined above yielded an estimated cost of $27,296,375 in 1990 dollars. These costs were inflated by 6% per year through 1996 to produce a projected actual cost of $38,720,000. How firm are these cost estimates? It was our intention when these estimates were generated that they should be conservative at the outset of the planning process because of the large number of unknown variables. It is difficult to estimate costs when a site has not been selected or tested and the nature of off -site improvements is not known. Although these issues have not been fully resolved, we certainly hope that these estimates will exceed the final bids. It should be noted that this is a very difficult market in which to project construction costs. The construction market, obviously, is depressed at this time to the extent that bids are coming in today lower than they were two years ago. The critical question is whether this climate will exist for the next several years or will the market turn around, causing bids to escalate at a higher than inflationary rate in order to adjust for the present depressed conditions. These two extremes could result in costs which vary as much as 20 %. Again, the CHCCS district has taken a conservative approach, projecting that the market has bottomed out and will recover before these three projects are bid.