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Concept J
<br />The appraised market value for all parcels involved in this concept range
<br />from $1,564,000 to $2,057,600. As stated previously, the following compares
<br />the estimated average cost with the costs currently contained in the Master
<br />Plan Concept, as provided by Mr. Flick.
<br />B Corrected total. Master Plan contained $3,158,480.
<br />The total estimated project cost is $18,824,259 utilizing the $3,159,660 land
<br />acquisition costs. The new total would be $18,362,691.
<br />Concept M
<br />The appraised market value for all parcels involved in this concept range
<br />from $2,190,000 to $2,841,100.
<br />Average
<br />Master PIanA
<br />Difference
<br />Property Value
<br />$1,810,800
<br />$2,501,460
<br />($690,660)
<br />Relocation Costs
<br />90,540
<br />465,000
<br />(374,460)
<br />Closing Costs
<br />72,432
<br />193,200
<br />(120,768)
<br />Acquisition Cost
<br />$1,973,772
<br />$3,159,66V
<br />($1,185,888)
<br />Contingency
<br />724,320
<br />-0-
<br />$ 724,320
<br />Total
<br />$2,698,092
<br />$3,159,666B
<br />($ 461,568)
<br />A Relocation and/or
<br />closing costs
<br />were not provided
<br />on some of the
<br />parcels.
<br />_.
<br />B Corrected total. Master Plan contained $3,158,480.
<br />The total estimated project cost is $18,824,259 utilizing the $3,159,660 land
<br />acquisition costs. The new total would be $18,362,691.
<br />Concept M
<br />The appraised market value for all parcels involved in this concept range
<br />from $2,190,000 to $2,841,100.
<br />B Corrected total. Master Plan contained $4,073,480.
<br />The total estimated project cost utilizing the $4,074,660 land acquisition cost
<br />is $19,784,259 and $19,905,140 if replacement parking were provided. The
<br />new totals would be $19,457,768 and $19,578,649 respectively.
<br />Concept L
<br />Although Concepts J and M were those favored at the August meeting,
<br />Concept L in scope falls between the two. As a result, we have included it
<br />in this report for comparative purposes. The optional parking in Block 36
<br />has not been included in the cost and is not recommended at this time.
<br />The appraised market value for all parcels involved in this concept range
<br />from $ 2,008,700 to $2,492,100.
<br />Average
<br />Master PIanA
<br />Difference
<br />Property value
<br />$2,515,550
<br />$3,416,460
<br />($900,910)•
<br />Relocation Costs
<br />125,777
<br />465,000
<br />( 339,223)"
<br />Closing Costs
<br />100,622
<br />193,200
<br />( 92,578)
<br />Acquisition Cost
<br />$2,741,949
<br />$4,074,66V
<br />($T.-332,711)
<br />Contingency
<br />•1,006,220
<br />-0-
<br />1,006,220
<br />Total
<br />$3,748,169
<br />$4,074,6606
<br />($ 326,491)
<br />A Relocation
<br />and/or closing
<br />costs were not
<br />provided on some of the
<br />parcels.
<br />_.
<br />B Corrected total. Master Plan contained $4,073,480.
<br />The total estimated project cost utilizing the $4,074,660 land acquisition cost
<br />is $19,784,259 and $19,905,140 if replacement parking were provided. The
<br />new totals would be $19,457,768 and $19,578,649 respectively.
<br />Concept L
<br />Although Concepts J and M were those favored at the August meeting,
<br />Concept L in scope falls between the two. As a result, we have included it
<br />in this report for comparative purposes. The optional parking in Block 36
<br />has not been included in the cost and is not recommended at this time.
<br />The appraised market value for all parcels involved in this concept range
<br />from $ 2,008,700 to $2,492,100.
<br />39
<br />DEC 18 1990 Bou 6,9 f'!ut 'JO
<br />Average
<br />Master* PIanA
<br />Difference
<br />Property Value
<br />$2,250,400
<br />$3,072,000
<br />( 821,600)
<br />Relocation Cost
<br />112,520
<br />375,000
<br />( 262,480)
<br />Closing Cost
<br />90,016
<br />215,700
<br />( 125,684)
<br />Acquisition Cost
<br />$2,452,936
<br />$3,662,70015
<br />($_1_,209,764)
<br />Contingency
<br />900,160
<br />-0-
<br />900,160
<br />Total
<br />$3,353,096
<br />$3,662,706B
<br />($ 309,604)
<br />39
<br />DEC 18 1990 Bou 6,9 f'!ut 'JO
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