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Mr..Larry Hamer <br /> July 1, 1996 • <br /> Page 2 <br /> While unit prices for these items tend to fluctuate from project to project (as well as year to <br /> year), the overall trend has been upward, particularly for bituminous pavement, curb and <br /> gutter and watermain. Increases in both labor and material costs have resulted in higher unit <br /> prices for these items. For a 30-foot wide street, which is comparable to a typical street in <br /> St. Anthony, the average cost per linear foot has been as follows: <br /> 1988 1989 1990 1991 1992 1993 1994 1995 <br /> $128.80 $127.80 $137.30 $138.30 $149.60 $135.40 $157.20 $174.20 <br /> For the period from 1988 to 1995, construction cost per linear foot has increased 35% <br /> according to our available records. The publication, Engineering News Record, has developed <br /> a Construction Cost Index (CCI) which is used to track construction costs for 20 metropolitan <br /> areas around the country since 1907. The index for Minneapolis has changed from 4494.16 <br /> in December 1987 to 5909.05 in December 1995, a 31% increase over that period of time. <br /> If you have any questions or wish to discuss this information further, do not hesitate to call <br /> US. <br /> Sincerely, _ • <br /> RIEKE CARROLL MULLER ASSOCIATES, INC. <br /> A&A;t , W.?&V <br /> Robert L. Moberg, P.E. <br /> Project Manager <br /> RLM/bam <br /> • <br />