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FIRE STATION CONSTRUCTION <br />December 22, 1989 <br />Page Two <br />*Land Acquisition /Relocation $300,000+ <br />*Demolition ?? <br />*Site Development ?? <br />*Legal /Closing Costs ?? <br />*Construction (11,200 @ $65 -$85) 728,000/952,000 <br />*Professional Fees ?? <br />*Capitalized Interest 35,000 <br />*Equipment /Furnishings ?? <br />*Contingencies ?? <br />*Miscellaneous ?? <br />Total $ ?? <br />(David Kroos of Boarman & Associates will have a more specific <br />project budget available for the meeting for the Council to <br />consider in sizing this issue.) <br />From net bond proceeds available, it is safe to assume that other sources <br />of money are needed to address these costs based on the assumptions put <br />forth. Facing a possible funding deficit, the Council will have to <br />consider the following options: <br />*Increase bond issue size; <br />*Utilize existing City funds on hand; <br />*Obtain outside donations; <br />*Decrease project size /costs; <br />*Combination of the previous options. <br />At this point, most estimates are not finalized. Therefore, I feel it is <br />important for the Council to be aware of the cost implications of the <br />total project when making their decision Wednesday night. <br />Page 15 <br />