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0 EXECUTIVE SUMMARY DRAFT COPY <br />Facility Concept & Program <br />The purpose of this section is to build off the market demand research, analysis and conclusions related to a potential new Youth <br />and Amateur Sports Complex in Mounds View to evaluate market -indicated facility development options. Recommendations <br />regarding potential facility components and other aspects evaluated in this section are based on the results of the market <br />analysis, including the historical, current and projected demographic and socioeconomic characteristics of the market area, an <br />assessment of existing sports and recreation facilities in the marketplace, characteristics of comparable sports facility <br />developments throughout the country and discussions with potential users of a new Youth and Amateur Sports Complex in <br />Mounds View. <br />Specifically, the following elements represent a target market supportable program and key attributes for a potential new Youth <br />and Amateur Sports Complex in Mounds View: <br />• CONCEPT: Three additional full-sized (95' x 50' alleys) hardwood basketball courts (total of 5 basketball courts, convertible <br />to 10 volleyball courts) extending from the two existing hardwood courts at the Mounds View Community Center. <br />• INCREMENTAL FACILITY SIZE: Approximately 30,000 gross square feet. <br />• PARKING: Approximately 400 total spaces. <br />Order -of -Magnitude Project Costs <br />The table below summarizes the order -of -magnitude program cost summary for a new Youth and Amateur Sports Complex in <br />Mounds View. As shown, it is estimated that the total cost (hard and soft costs) to develop the site and construct the Complex is <br />estimated at approximately $9.9 million (in 2022 dollars). <br />While the final project costs could vary based on changes to the building program, timing of the project, recent economic <br />conditions (e.g., inflation) and other such factors, this cost estimate is useful in determining the appropriate amount of project <br />funding that may be required. Further discussions between stakeholder, local community leaders, project architects and other <br />such individuals will be necessary in order to finalize the building program. This figure does not include any costs related to site <br />acquisition, nor does it consider the highly -volatile steel, lumber and materials costs presently impacting the construction industry <br />nationwide. It is assumed that current construction cost volatility will largely be normalized to pre -pandemic levels by the time <br />that construction services would be contracted/purchased for any new Youth and Amateur Sports Complex in Mounds View. <br />Hard Cost Detail: <br />Hardwood courts <br />Support space <br />HARD CONSTRUCTION COST SUBTOTAL <br />Soft Cost Detail: <br />General <br />Requirements <br />Design Contingency <br />FF&E <br />ESTIMATED SOFT COSTS <br />ESTIMATED TOTAL CONSTRUCTION COSTS <br />24,000 GSF $250.00 $6,000,000 <br />6,000 GSF $275.00 $1,650,000 <br />$7,650,000 <br />10% $765,000 <br />15% $1,147,500 <br />5% $382,500 <br />$2,295,000 <br />$9,945,000 <br />Cam, L Feasibility Study of a Potential new Youth and Amateur Sports Complex in Mounds View, Minnesota • Page 7 <br />