Fiscal Note
The estimated cost of designing and constructing the build-out of Fire Administration space and the remodeling of Fire Station #1 is currently estimated at $7,700,000 with design fees estimated at approximately $453,400. Of this amount, $57,240 was approved by the Common Council at its April 10, 2012, meeting (Legistar #25803). These costs are preliminary and will be more clearly defined through the continuing architectural and design process. In addition, the City will need to finalize the purchase price of the “Grey Box” space including vehicle parking needs which will add to the costs of this project. The current overall cost estimate included in the Fire Department 2013 Capital Budget request is $12.4 million. This estimate includes the construction cost above, an estimated cost to purchase the "Grey Box" space, and the cost of furniture, fixtures and equipment. The estimate does not include design fees (which are addressed in this resolution), parking acquisition costs or any proceeds from the sale of the current Fire Administration property.
Adding the design fees in this resolution to the Fire Department request places the estimated cost at $12.8 million, prior to addressing parking costs or reflecting sale proceeds. This estimate could change given the preliminary nature of the overall development project.
Costs associated with preparing the Fire Administration site for sale, including apprisal fees, are expected to total approximately $15,000. This resolution includes funding for those costs.
Preliminary estimates of potential offsets to the estimated costs originally totaled approximately $11 million and include proceeds from sale of land and air rights, repayment of certain development loans, savings in other capital projects in the current Capital Improvement Program, and unused balances in City funds for land acquisition. This figure included $4 million from sale of the Fire Administration property and associated air rights. Pr...
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