Project Costs and Financing
The project budget was as follows:
|
Description |
|
|
Land Acquisition Costs (Former Gas Station & Retail Store & MNR/ORC acquisition) |
$850,000 |
|
Demolition of Retail Store, Gas Station, UGT Removal, Town Hall |
$145,000 |
|
Removal of Impacted Soils |
$200,000 |
|
Environmental Consultant |
$60,000 |
|
Placement of Engineered Fill |
$200,000 |
|
Design Services (Architects & Engineers) |
$540,000 |
|
Proposed Building: Basement First and Second Floor |
7,226 sq ft 19,225 sq ft |
|
Estimated Cost Per Square Foot (LEED Silver) First and Second Floor |
$130/sq ft $240/sq ft |
|
Total Estimated Construction Cost |
$5.6 million |
|
External Parking Lot Development |
$85,000 |
|
Furniture, Fixtures & Equipment |
$250,000 |
|
Site Works, Landscaping |
$300,000 |
|
Moving |
$50,000 |
|
Contingency @ 3.5% |
$168,000 |
|
TOTAL |
$8,448,000 |
|
Item Description |
Budget Amount ($) | Awarded Bid ($) (GST/HST Extra) |
| Piling | 500,00 | 468,500 |
| Foundations/Structural Slabs | 624,373 | 272,220 |
| Structural Steel | 439,500 | 308,000 |
| Reinforcing Steel | 84,600 | 83,916 |
| Precast Slabs | 71,670 | 47,975 |
| Concrete Decks and Topping | 41,751 | 23,045 |
| Elevator | 90,000 | 59,368 |
| Wood Decking | 59,800 | 49,933 |
| Mechanical | 890,655 | 1,040,800 |
| Electrical | 325,710 | 723,124 |
| Sprinklers | 74,118 | 57,680 |
| Steel Studs/Drywall/Insulation | 279,125 | 347,000 |
| Brick,Stone and Concrete Block Masonry | 334,410 | 432,022 |
| Aluminum Windows and Curtainwall | 463,400 | 510,500 |
| Metal Doors and Frames | 5,400 | 6,210 |
| Steel Handrail and Miscellaneous Metals | 60,400 | 43,360 |
|
Flat Roof |
178,710 |
77,458 |
|
Metal Roof |
81,240 |
57,307 |
|
Rough Carpentry |
30,000 |
67,970 |
|
Waterproofing |
9,160 |
11,500 |
|
Site Development |
15,250 |
15,250 |
|
Site Works (excavation,grading,etc.) |
116,750 |
100,000 |
|
Credits |
n/a |
(25,680) |
|
Change Orders |
n/a |
45,817 |
|
Contingency |
168,000 |
n/a |
|
Total |
4,944,022 |
4,822,275 |
In 2009, a grant of $4.6 million was received by the Town of The Blue Mountains, through the Infrastructure Stimulus Fund (ISF). This grant will offset the total cost of the project. Therefore the cost of the project for the municipality is approximately $3,848,000.
The Town has recently received confirmation from the Federation of Canadian Municipalities Green Municipal Fund that our Energy Application was successful. The Grant commitment is $330,000 and the Loan commitment is $3.3 million (with the same being at 1.5% below the Bank of Canada Bond Rate). Upon the building being complete, and it is demonstrated by the Town that the building has achieved the energy efficiency results contained in our application, the Loan and Grant will become available.
The Town has also submitted a 'High Performance New Construction Program' application related to expected modelled energy savings. This program provides for incentives based on the expected energy savings. In the Town's instance, the incentive applied for is $9.900.For more information regarding expected Capital Resource Requirements and Sources of Financing and Funding, please contact Darcy Chapman, Capital Accountant, Town of The Blue Mountains, at dchapman@thebluemountains.ca.
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