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VI. SUMMARY OF ESTIMATED PROJECT COSTS <br />Included in the Appendix is a detailed estimate of Project costs. This cost estimate is <br />based on recent construction projects of similar character and assumes that the <br />proposed improvements would begin in 2008. As previously stated, the estimated <br />project costs do not include costs associated with right -of -way acquisition, property <br />acquisition, residential relocation, or residential severances. However, the City of Lino <br />Lakes has provided estimated costs which are cited below. Actual costs will be <br />determined through competitive bids following final design for the improvements. The <br />actual costs will therefore vary based upon the market conditions that exist at the time <br />of the bidding. <br />The following is a summary of estimated Project costs for the recommended <br />improvements. The estimated costs include a 10% contingency and 25% indirect costs. <br />The indirect costs include legal, engineering, administrative, and fiscal. <br />Project Costs (Roadway Realignment): $ 308,900 <br />House Demolition: $ 30,000 <br />$ 338,900 <br />Est. Right -of -way and Property Acquisition: $ 298,705 <br />Est. Housing Demolition & Relocation: $ 25,000 <br />Est. Property Severance: $ 35,000 <br />$ 358,705 <br />VII. FINANCING OF IMPROVEMENTS <br />This project is proposed to be financed through City Funds. <br />VIII. PROJECT SCHEDULE <br />The project schedule is not known at this time. However, the estimated project costs <br />assume that the project would commence in 2008. If the project is delayed and not <br />constructed in 2008, it is recommended that the City re- evaluate the proposed costs <br />prior to continuing with the project. <br />Feasibility Report 9 13849.006 <br />City of Lino Lakes, Minnesota <br />