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Mr. Jim Ericson File No. 435-09000-0 <br /> City of Mounds view October 2, 2009 <br /> Silver Lake Woods — Street Transfer Costs Page 2 <br /> Silver Lake Woods <br /> Street Transfer <br /> Summary of Costs <br /> Item Amount <br /> Construction $ 172,375 .88 <br /> Engineering $ 38,834.27 <br /> Legal $ 16,335 .00 <br /> City $ 9,950.00 <br /> Miscellaneous $ 2.926. 54 <br /> Total $ 240,421.69 <br /> The total amount of $240,421 .69 is within the not to exceed amount of $415,000 stated in the <br /> Petition and Waiver Agreement included as an attachment to the Street Transfer Agreement. For <br /> informational purposes, it is noted the Agreement amount included a security factor of 25% . <br /> More recently, the City had prepared an estimated total cost of $270,864 on July 6, 2009. The <br /> actual final amount of $240,421 .69 is approximately $30,000 less than the July estimate. The <br /> primary reasons for this difference are in the construction and engineering costs. The final <br /> construction cost is approximately $27,000 lower than the contract amount, while engineering <br /> costs are approximately $7,000 lower than estimated . <br /> Based on this information, the City of Mounds View should invoice the Silver Lake Woods <br /> Condominium Association in the amount of $240,421 ,69 in accordance with the executed Street <br /> Transfer Agreement. <br /> Please do not hesitate to contact me at (651) 604-4803 if you have questions regarding this <br /> project or would like further explanation of project costs and allocations. <br /> Sincerely, <br /> BONESTROO <br /> Joseph R. Rhein, P. E. <br /> cc: Mark Beer, Mounds View Finance Director <br /> Nick DeBar, Mounds View Public Works Director <br />