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15
<br /> SECTION III
<br />PROJECT ASSUMPTIONS
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<br />
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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 />Table 14: Land Development Soft Costs
<br />Land Development Soft Costs Phase 1 Phase 2 Phase 3 Total
<br />Civil Engineering $2,544,276 $654,928 $1,560,958 $4,760,162
<br />Soils Engineering $383,642 $107,496 $246,864 $738,002
<br />Environmental Processing $2,686,200 $836,850 $605,850 $4,128,900
<br />Development Consulting $3,877,975 $1,211,549 $1,279,569 $6,369,092
<br />Planning Fees, Deposits, Permits $1,504,574 $363,471 $1,354,913 $3,222,959
<br />Development Impact Fees $99,495,397 $33,934,601 $26,234,870 $159,664,869
<br />Bonds $274,066 $70,088 $149,018 $493,172
<br />Mitigation Costs $453,300 $214,606 $332,094 $1,000,000
<br />Lot Improvement Indirect Contingency $4,157,265 $1,363,937 $1,339,973 $6,861,175
<br />Total Land Development Soft Costs $115,376,695 $38,757,526 $33,104,109 $187,238,330
<br />3. Land improvement direct costs include site preparation, rough grading, erosion and
<br />dust control, storm drain systems, sanitary sewer systems, potable water, non-
<br />potable water, street improvements, dry utilities, fencing and walls, landscaping,
<br />common costs, Project-wide amenities, parking, repairs for bond release,
<br />reimbursements, and the lot improvement direct contingency.
<br />Table 15: Total Land Development Hard Costs by Phase Unit
<br />Total Land Development Hard Costs per Unit Phase 1 Phase 2 Phase 3 Total
<br />Site Preparation $1,026,075 $335,475 $771,900 $2,133,450
<br />Rough Grading $1,272,000 $416,000 $968,000 $2,656,000
<br />Erosion and Dust Control $1,776,600 $575,100 $1,344,600 $3,696,300
<br />Storm Drain System $4,344,480 $827,315 $644,818 $5,816,613
<br />Sanitary Sewer System $2,882,675 $795,345 $642,290 $4,320,310
<br />Potable Water $2,924,300 $865,845 $673,290 $4,463,435
<br />Non-Potable Water $1,130,100 $379,095 $274,503 $1,783,698
<br />Street Improvements - Concrete $2,162,240 $566,960 $410,600 $3,139,800
<br />Street Improvements - Asphalt $2,514,590 $893,145 $896,940 $4,304,675
<br />Dry Utilities $3,618,700 $1,102,525 $798,338 $5,519,563
<br />Fencing and Walls $1,483,450 $153,600 $356,550 $1,993,600
<br />Landscaping $2,989,120 $208,630 $5,662,450 $8,860,200
<br />Common Costs $1,188,000 $398,500 $5,688,500 $7,275,000
<br />Project Amenities $3,000,000 $0 $0 $3,000,000
<br />Parking Spaces $52,404,000 $18,084,000 $40,636,000 $111,124,000
<br />Repairs For Bond Release $844,900 $272,694 $596,543 $1,714,138
<br />Reimbursements ($986,010) ($330,758) ($239,501) ($1,556,269)
<br />Lot Improvement Direct Contingency $12,686,283 $3,831,521 $9,018,873 $25,536,677
<br />Total Land Development Hard Costs $97,261,503 $29,374,992 $69,144,693 $195,781,188
<br />4. Vertical costs include all costs from the foundation to the roof of a dwelling unit,
<br />including a 5% contingency and the cost of a building permit.
<br />Exhibit 10
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<br />
<br />City Council 22 – 500 9/17/2024
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