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31
<br /> SECTION VII
<br />INDIRECT COSTS
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<br />Related Bristol at 3600 South Bristol Street September 27, 2023
<br />Land Residual Value Study Report
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<br />www.FinanceDTA.com
<br />VII INDIRECT COSTS
<br />Indirect costs include on-site consultants, architects, taxes/title insurance/land escrow,
<br />overall project contingency, insurance, site development field expenses, on-site
<br />construction management costs (lot improvement field management), development
<br />operations expenses (vertical construction field management), and general and
<br />administrative expenses.
<br />Table 46 : Indirect Cost Allowance
<br />Indirect Costs Phase 1 Phase 2 Phase 3 Total
<br />On-Site Consultants, Including Architects $1,878,983 $684,168 $1,126,850 $3,690,000
<br />Taxes/Title Insurance/Land Escrow $1,484,144 $443,548 $359,554 $2,287,246
<br />Overall Project Contingency $14,841,437 $4,435,479 $3,595,541 $22,872,456
<br />Insurance $22,227,017 $6,642,717 $5,384,798 $34,254,531
<br />Site Development Field Expense $2,465,737 $736,905 $597,358 $3,800,000
<br />On-Site Construction Management Fee $2,271,073 $678,728 $550,199 $3,500,000
<br />Development Operations Expense $1,687,083 $504,198 $408,719 $2,600,000
<br />General and Admin Expense - 2.0% $29,682,874 $8,870,958 $7,191,081 $45,744,912
<br />Total Indirect Costs $76,538,347 $22,996,699 $19,214,099 $118,749,145
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<br />Exhibit 10
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<br />City Council 22 – 516 9/17/2024
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