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Mr. Joel Hanson, Administrator <br />City of Little Canada <br />November 23, 1990 <br />Page 4 <br />2. Existing Building Value <br />The Ramsey County Assessors records indicate the following values for parcel one: <br />Detail 1988/89 1989/90 1990/91 <br />• Land $196,400 $440,000 $440,000 <br />• Improvements 604,300 486 400 486,400 <br />Total $800,700 $926,400 $926,400 <br />I have received no other data or information relating to the value of the existing <br />buildings /facilities. Accordingly, I have used the above value of $486,400 in <br />computing the attached connection charge. <br />3. Planned Improvements Value <br />A. Total Project Cost Estimate: <br />Included in the information received from the developer was a preliminary cost <br />report dated August 22, 1988 from the developers' architect. This report (plus <br />additional representations of the developer) indicated the following costs: <br />Excluding <br />Description Total Refrigeration Costs <br />• Construction Contracts $4,169,400 $3,169,400 <br />• Contingency @ 5% 208,475 158,470 <br />• A/E Fee @ 6% 250,166 190,164 <br />Total $4,628,081 $3,518,034 <br />According to the developer, the above costs represent the best estimate (at this <br />time) of in- process plus planned future development. <br />