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17
<br /> SECTION IV
<br />LAND IMPROVEMENT INDIRECT
<br />COSTS
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<br />Related Bristol at 3600 South Bristol Street September 27, 2023
<br />Land Residual Value Study Report
<br />
<br />www.FinanceDTA.com
<br />IV LAND IMPROVEMENT I NDIRECT COSTS
<br />A Civil Engineering
<br />In the current environment, a Specific Plan requires a significant civil engineering effort to
<br />obtain project-related data and prepare the required maps and exhibits that are generally
<br />prepared at 100 scale (1 in = 100 ft). If a Specific Plan is prepared at a scale greater than 100,
<br />such as a 300 scale, while a TTM is subsequently prepared at 100 scale or less, the proposed
<br />lot lines may not coincide with the Specific Plan’s planning area maps. In this case, the
<br />approving body may be required to approve a variance or, in significant cases, a Specific
<br />Plan Amendment requiring additional public hearings and public review. For this reason,
<br />we suggest the TTMs be prepared at 100 scale or less, although these efforts may require
<br />additional civil engineering work and additional upfront costs. We believe the cost of the
<br />extra work early in the development process will reduce costs later and is well worth the
<br />investment.
<br />The Civil Engineer is responsible for preparing detailed supporting studies for many
<br />disciplines, including grading, erosion control, storm drain, sanitary sewer, potable and
<br />non-potable water roadways, fencing and walls landscaping, common costs, and parking.
<br />Furthermore, the City or other agencies, such as the California Department of
<br />Transportation (“Caltrans”), U.S. Fish and Wildlife Service, or California Department of Fish
<br />and Wildlife, may require additional engineering studies to support the TTMs.
<br />Table 16: Civil Engineering Costs
<br />Civil Engineering Phase 1 Phase 2 Phase 3 Total
<br />Apartment $1,674,115 $642,127 $1,098,051 $3,414,292
<br />Commercial $43,688 $0 $0 $43,688
<br />Hotel $363,718 $0 $0 $363,718
<br />Congregate $26,289 $0 $0 $26,289
<br />Amenity $176,640 $12,801 $462,907 $652,347
<br />Backbone $259,828 $0 $0 $259,828
<br />Total Civil Engineering $2,544,276 $654,928 $1,560,958 $4,760,162
<br />B Soil Engineering
<br />Geotechnical studies will be required for the Project even though the Project site has
<br />previously been developed. Many geotechnical standards have changed since the Project
<br />site’s geology was studied in the 1960s and 1970s. For example, the compaction standard
<br />in Orange County in the early 1980s was 85% optimum but had been revised to 90% because
<br />of grading failures during construction in Laguna Niguel and other Orange County
<br />jurisdictions. In addition to site sampling and testing, the geologist will also be required to
<br />study the effects of earthquakes, seismically induced surface ruptures, ground shaking,
<br />ground failure, subsidence and liquefaction, and potentially other issues required by the
<br />City’s Public Works Agency.
<br />Exhibit 10
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<br />City Council 22 – 502 9/17/2024
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