HomeMy WebLinkAbout031021-4.1 Capital Improvement Program Status Update Attachment BProject B-626 - Town Office Relocation
Project Cost & Funding
Estimated Cost
Property Acquisition (500 La Gonda) $12,465,362 *
Improvements
Phase 1- Police Department $7,108,800 **
Tenant Improvements & Furnishing
(assume $125 per s.f. for 16,000 s.f.) $2,000,000
Parking Lot $750,000
Design $750,000
Sub -total $3,500,000
Contingency (assume 15%) $525,000
Solar buyout $500,000
Sub -Total - T.I. & Furnishings $4,025,000
TOTAL ESTIMATED COST $24,099,162
Funding
Capital Improvement Program B-626
Prior Year Appropriations $9,600,000
2019/20 GF Transfer $2,100,000
2018/19 Year-end Fund Balance $3,700,000
Sale of 115-125 Hartz Avenue Property $3,274,470
2020/21 GF Transfer $1,675,240
Closeout/transfer fro CIP Project B-597 $2401943
Total Current Appropriations $20,590,653
Remaining Funding Required (Current) -$3,508,509
Future 2021/22 Appropriation - per CIP B-626 $1,825,000
Unfunded Balance -$1,683,509
* $12,750,000 -$170,000 adjustment equals cost of $12,580,000; closing costs include: taxes, insurance
and fees totalling $25,503.79; and credits of $140,141.31 for tenant deposits and rent.
* * tennant improvements for (dormer theater shell - per contract awarded November 17, 2020. 19 -Jan -21
ATTACHMENT B