2005-8-30 Memorandum; 2004 Prairie Run Final Project Costs-Estimated SEH �
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SEH MEMORANDUM
TO: Lany Kruse
Albertville City Administrator
FROM: Robert L.Moberg,PE
Project Manager
DATE: August 30,2005
RE: 2004 Prairie Run
Final Project Costs-Estimated
Albertville,Minnesota.
SEH No.A-ALBEV 0409.00
At your request, I have developed a summary of final project costs and assessments for the subject project
(see attached worksheets). The cost summary includes all construction costs to date and an estimate of
remaining work on the project. The cost summary also includes the additional work of building pad
testing, Heuring properly grading, street lighting, crop damages, 3-phase power, and a landscaped median
on Kassel Avenue. Legal, planning, administration, and engineering costs have been included. I have
aiso included engineering costs for the developer's engineer.
After summarizing tt�e costs identified above, a 3% administration fee was then added. Land acquisition
costs were then included to determine a total amount to be financed. Cost of financing is estimated to be
3.1%,which is consistent with what was used for the Public Works Building project.
Proposed cost participation is summarized as follows:
l. Residential $1,324,549.72
2. Commercial $685,792.47
3. City Trunk Funds $147,884.05
$2,158,226.25
For the Council resolution calling for the assessment hearing, the final project cost is $2,158,226.25 and
the amount to be assessed is$2,010,342.20.
Dean Johnson has indicated he intends to install the median landscaping on his own and does not want to
be assessed for the work. If this is the case, the project totals will need to be modified accordingly.
Please notify me how the City would like to handle this issue.
Please call me at 651.490.2147 if you have any questions.
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Enc�osures
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Short Elliott Hendrickson Inc.,3535 Vad�ais Center Drive,St.Paul,MN 55110-5196
SEH is an equal opportunity employer � www.sehinc.com � 651.490.2000 � 800.325.2055 � 651.490.2150 fax
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