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28
<br /> SECTION V
<br />LAND IMPROVEMENT DIRECT
<br />COSTS
<br />
<br />
<br />
<br />Related Bristol at 3600 South Bristol Street September 27, 2023
<br />Land Residual Value Study Report
<br />
<br />www.FinanceDTA.com
<br />Table 39: Parking Budget
<br />Parking Spaces Phase 1 Phase 2 Phase 3 Total
<br />Above-Grade 107 33 65 205
<br />Surface 311 161 309 781
<br />Below-Grade 1,370 470 1,070 2,910
<br />Total Parking Spaces 1,788 664 1,444 3,896
<br />
<br />Table 40: Parking Space Budget
<br />Parking Spaces Phase 1 Phase 2 Phase 3 Total
<br />Apartment $48,169,000 $18,084,000 $40,636,000 $106,889,000
<br />Hotel $4,235,000 $0 $0 $4,235,000
<br />Parking Spaces $52,404,000 $18,084,000 $40,636,000 $111,124,000
<br />N Repairs for Bond Releases
<br />Repairs for bond releases are costs that a developer incurs to exonerate subdivision
<br />completion bonds. These costs are generally incurred after the completion of
<br />improvements to support the release of subdivision bonds.
<br />Table 41 : Costs of Repair s f or Bond Releases
<br />Repairs For Bond Release Phase 1 Phase 2 Phase 3 Total
<br />Apartment $735,490 $271,464 $481,446 $1,488,400
<br />Commercial $2,607 $0 $0 $2,607
<br />Hotel $44,659 $0 $0 $44,659
<br />Congregate $1,925 $0 $0 $1,925
<br />Amenity $30,270 $1,230 $115,098 $146,597
<br />Backbone $29,950 $0 $0 $29,950
<br />Repairs For Bond Release $844,900 $272,694 $596,543 $1,714,138
<br />O Reimbursements
<br />In general, the dry utility purveyors provide reimbursement to a developer for installing
<br />utility facilities that are “sold” to the utility when the user commences service. The
<br />reimbursements usually occur during the life cycle of a project and are reimbursed when
<br />the affected utility is brought online.
<br />Table 42: Dry Utility Reimbursements
<br />Reimbursements Phase 1 Phase 2 Phase 3 Total
<br />Apartment ($986,010) ($330,758) ($239,501) ($1,556,269)
<br />Reimbursements ($986,010) ($330,758) ($239,501) ($1,556,269)
<br />
<br />Exhibit 10
<br />
<br />
<br />City Council 22 – 513 9/17/2024
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