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30 <br /> Shell Out Library and <br /> Eliminate Library FFE $(1,262,000) <br /> Shell Out Orientation Room $ (63,000) <br /> Remove Outdoor Terrace <br /> and Green Roof $ (52,778) <br /> Total Cost Reduction $(1,807,160) $(1,807,160) $(1,807,160) <br /> Strategies <br /> Debt Finance Total Project <br /> $1,807,160 <br /> Deficit <br /> Debt Finance with $950,000 $857,160 <br /> in Project Offsets <br /> 1 <br /> 2 Option #1 <br /> 3 <br /> 4 Reduce parking stalls to the number required under the Town's Land Use <br /> 5 Ordinance - $401,970 <br /> 6 Through the design process, the facility occupants requested 20 more parking stalls than the <br /> 7 number that would be required under the Town's Land Use Ordinance. This request was made <br /> 8 prior to knowing the very high cost of the cast in place structure. Since these parking spaces <br /> 9 would be considered excess, this reduction can be accomplished without replacing those <br /> 10 spaces. <br /> 11 <br /> 12 Reduce and replace an additional 20 parking spaces - $780,788 <br /> 13 The Town's ordinance would allow the County to replace constructed parking spaces on site <br /> 14 with leased spaces in the surrounding area. The elimination of 20 additional spaces in the <br /> 15 parking deck would result in a construction cost savings of$780,778 and an addition of <br /> 16 approximately $6,000 to the annual operating budget to lease off site spaces. <br /> 17 <br /> 18 Reduce furniture, fixtures, and equipment (FFE) - $447,775 <br /> 19 The total FFE budget is $1,250,000. A portion of the FFE budget ($447,775) could be <br /> 20 transferred to the construction budget. This reduction would leave $802,225 for FFE and result <br /> 21 in reusing some of the existing classroom furniture, office furniture, and AV equipment. <br /> 22 <br /> 23 • Reduce Sound Transmission Class (STC) rating of the window glazing in 57% of <br /> 24 the windows - $117,827 <br /> 25 Sound Transmission Class (STC) is an integer rating of how well a building partition or window <br /> 26 attenuates sound. A reduction in the STC rating of window glazing will make the building <br /> 27 noisier. The windows will transmit more outside noise from traffic into the building. <br /> 28 <br /> 29 Reduce construction contingency from five percent (5%) of construction costs to <br /> 30 four point five percent (4.5%) - $58,800 <br /> 31 Reducing the project contingency to 4.5% would accomplish the remaining savings. Since this <br /> 32 project is using a Construction Manager at Risk construction method, the need for a robust <br /> 33 owner's contingency is slightly reduced. <br /> 34 <br /> 35 Option #2 <br /> 36 <br /> 37 Option #1 Parking Reductions - $1,182,758 <br /> 38 Utilize the same parking reduction strategies contained in Option #1 <br />