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HomeMy WebLinkAboutBack-Up Documents CC MTG 2-25-21CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM TO: Arthur Noriega V DATE: September 29, 2020 City Manager SUBJECT: 190 SE 12' Terrace Development Feasibility FROM: Francisco J. Garcia, Director Department of Planning REFERENCES: ENCLOSURES: Massing Study Property Survey The Planning Department, in collaboration with the Zoning Office, have prepared the enclosed analysis in response to the inquiry made by the Miami City Commission at their meeting of September 24'1i, 2020 regarding the potential development capacity, and feasibility of said development, for the parcel at 190 SE 12' Terrace (the subject parcel). The subject parcel is an irregularly shaped lot on the corner of Brickell Bay Drive and SE 121 Terrace whose area is approximately 4,500 square feet. The zoning designation of the subject parcel T6-48A-0 with a Floor Lot Ratio (FLR) of 11 by right and up to 16.5 through public benefit contributions which calculated based on a Net Lot Area (NLA) of 4,500 sf. would yield 49,500 sf. of gross floor area (GLA). The height allowed by the zoning designation is 48 stories by right and 80 stories through public benefit contributions. The density available on the site is 500 units per acre which for the subject site calculated based on a 4,500 sf. area would result in a total of fifty-one (51) units available. The reduced size and irregular configuration of the parcel pose significant development constraints; additionally, the site is situated within an "established setback zone" which increases setbacks to fifteen (15') feet along the interior lot lines in addition to the ten (10') feet setbacks required along the frontages therefore reducing the buildable floorplate from an already constrained lot area of 4,500 sf. to a developable area of approximately 350 sf. On -site parking would thus be unfeasible to accommodate and vertical circulation requirements unfeasible to meet. In the aggregate, the reduced area of the site in conjunction with other applicable regulatory constraints render the site essentially undevelopable. In fact, the historic structure located on the site today could not be built pursuant to present regulations as it encroaches into otherwise required setbacks. The insert image provides a graphic representation of some of the elements and data described above. Also, attached please find a survey for reference. As always, we remain available should you have any questions. FJG/fjg C: Nzeribe Ihekwaba, PhD, PE, Chief of Operations /Assistant City Manager Joseph A. Ruiz, Esq., Zoning Director / Administrator Daniel Rotenberg, Real Estate and Asset Management Director Jeremy Calleros Gauger, Deputy Planning Director 355 NW 9T AV SUITE 2p9 BAMIFLORIOA3) 26 Noun �'*�j arz ■1y�.yy- ElEPHONE: (33Sj 26l-2B80 !J 1Y V i 4� ` A ...1 J ` l Ax: t305) 264-0229 AND SURVEYORS IRAWR BY AL. H tOT.g O9, a� ll� .a� t 7I'il' tarn 9p.. SURVEYNv 19-OWIT13-1 BOUNDARY SURVEY C:RAPHIC SCALE SHEET N6, 1 lAF i IN FEIrr L i.I, = 20 iR ' w Q I;re 1 � HH. 8 VARIABLE TOTAL RNV LEGAL DESCRIPTION 12 ' rERR BISCUS PLACE ,3 AM P4�4T(3-0� 7 I L----11-�_ 0 =PLA7- 4- (.00ATION SITE TCH N.LS. SURVEYOFLOTA. BLOCK], OFHIBISCUSPLACE ACCORDfNG TO THE FLAT THEREOF AS RECORDED fN THE PLAT BOOK J. PAGE 110, OF THE PUBLIC RECDROS OF MfAMf•DADE COUl—,, FL ORIDA PROPERTY ADDRESS: 190 SE 12 TERR MIAMI; FL 33131 CERTIFICATIONS.- DALE HERITAGE TRUST SfRVEYUR'S NOTES i)IF SHOWN. SEARLNGS ARE REFERRED TO ANASSLMED UERIDIAN, 8Y SAID PLAT IN THE DESCRIPTION OF THE PROPERTY. IF NOT, THEN BEARINGS ARE REFERRED 70 COUNTY, TOWNSHIP REAPS 2). NORTH ARROW BASED ON PLAT 3). ALL ELEVATIONS SHOWNARE REFERRED TO NATIONAL GEODETIC VERDCAL DATUM OF 1929 DACECOUNTY. BENCH MARKY C-2da-X. LOCATOR .- Ab-4101SW ELEVATION 18.06 FEET OF fY.G.V.D. OF (1828). 4). THE CLOSURE IN THE BOUNDARY SURVEY fSABOVE 11500 FT I HEREBYCERTh-Y.' THAT THIS `BOUNDARY SURVEY' OF THE PROPERTY DESCRIBED HEREON, AS RECENTLY SURVEYED AND DRAWN UNDERMY SUPERVISION. COMPUES WITH THE MUWMIIM TECHNICAL STANDARDS AS SET FORTH BY THE FLORIDA BOARD OF PROFESSIONAL LAND SURVEYORS W CHAPTER 01Gi7•0, FLORIDA ADUINISTRATIVE CODE PDRSIIANT TO 472.027,, FLOROA STATUTES. 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G: 9-7=i_:__ %R - - `' ------ - - ---- - fff� Broker Opinion of Value I @Wwww City of Miami Vacant Parcel wk 190 SE 12t" Terrace, Miami, FL 33131 October 2020 4c� 11 e � _,�' -.�I � ►ram � � e Subject Property 190 SE 12th Terrace, Miami, FL 33131 Location Brickell Submarket Tax District City of Miami Parcel Folio 01-0210-050-4160 Land Size 4,500+/- SF Zoning L T6-48A-0 Future Land use Restricted Commercial _ Building Size 1,550+/- SF (will be relocated) Building Type Office (Historic Structure) Year Built 1925 Stories 1 Transferable Density 48,000sf and 51 units Access SE 12th Terrace and Brickell Bay Flood Zone Zone A (High Flooding Risk) 2 I Location Maps ri { SW 7th St App a E• cKe. C ty Centre .2 SE 7 f! Sr Saks cictr Aven e 0 7r,i,y[KS SW 8th St BRICKELL VILLAGE WEST BRICKELL Play T-me Water Sports 4:y 1[tlt St BRICKELL STATION Y y RAIL SOUTHBOiI... v7 w Sw 1 tth St w S� p SW 1 t1i St f Souths de Eiementary,Schooi . SW 13th St CED9 Br ° 190 SE 1Zth Terrace, 011. `r Miami, FL 33131 El ^ey J: h tTted 9rieke'i fir+ Simpson Z P%T Fs!, & S:eaK o _e Park Four Seasor s Hote; M.arr LL. Equiroxlvr' a a - savills.us 3 Aventura {8Y1i Carol City North Miami Beach Miami Gardens Miami takes Q f 52A North Miami gal islands Hialeah Gardens [!Lo Surfside North Bay Village Hialeah PC Fo tS1I 41rF::}.{..f rw y. F FASHION L25^ DISTRICT yy Miami Beach Tamiami DO 190 SE 12th Terrace, Westchester h7 i am i, FL 33131 University Park i Kendall West Coral Gables Kendall ' aial The Hammocks Savills n., Zoning Map savills.us 5 Primary Zoning - Miami 21 ❑■ T1 NATURAL ❑ T3 SUB -URBAN ❑ T4 GENERAL URBAN ❑ T5 URBAN CENTER ❑ T6-3 URBAN CENTER ❑ T6-12 URBAN CURE ❑ T6-24 URBAN GORE ❑ T6-36 URBAN CORE ❑ T6 48 URBAN GORE 0 T6-60 URBAN CORE ❑■ T6-30 URBAN CO ❑ 61 WORKPLACE ❑ a2INDUSTRIAL 1 0-3,11 savills Future Land Use Map savills.us Low Density Multifamily Residential Medium density Multifamily Residential High Density Multifamily Residential Low Density Restricted Commercial Medium Density Restricted Commercial Restricted Commercial Central Business District General Commercial Major Institutional, Public Facilities, Transportation and I Utilities CO.)SaVIIIS Flood Zone Map r� $ T T Y � O M v, S �N 7 7 H S Ti $ F 7 7 kJ # r 5a4 7 1 i, •: Y 7IT 1 TAM Ea ML L 7 MIAW :^ 1472 ti 90 SE 12TH TER, 1, 33131 -r r Zoom to ••• Q s� S savills.us FEMA Flood Zones FEI,,'AFIoodZone 6A ■ AE ■ AH ■ E x F— x (SHADED) CC)) saAls Land Sale Comps Name Address Parcel Size Zoning Future Land Use Proposed Use Sale Type Sale Date Sale Price Land Price / SF Subject Property 190 SE 12" Ter Miami, FL 6,000+/- SF (4,500+/- SF Developable) T6-48A-0 Restricted Commercial Developmental Rights: 48,000 SF & 51 Units 1) 250 SW 11 "' St 250 SW 11 t" St Miami, FL 7,500+/- SF T6-24A-0 Restricted Commercial Demolished — Redevelopment Investment June 2018 $2,250,000 $300.00 2) 2246 NE 2"° Ave 246 NE 2nd Ave Miami, FL 6,643+/- SF T6-12-0 Restricted Commercial Redevelopment Investment April 2020 $1,750,000 $263.44 3) 900 NW 2"d Ave 900 NW 2nd Ave Miami, FL 9,278+/- SF T6-8-0 Restricted Commercial Mixed Use Development Investment March 2020 $2,700,000 $291.01 Savills Location Map - Land Comps COMP Subject ADDRESS 190 SE 12th Ter, Miami. FL 0.10 LAND(SF) 4,500 ZONING T6-48A-0 PROSPOSED USE dev. Right Transfer SALE DATE k SALEPRICE PRICE 1 250 SW 11th St, Miami, FL 0.17 7,500 T6-24A-0 Redevelopment ,dun-16 $2,250,000 $300 2 2246 NE 2nd Ave. Miami, FL 0.15 6,643 T6-12-0 Redevelopment Apr-20 $1,750,000 $263 900 NW 2nd Ave, Miami, FL 0.21 9,278 T6-$-0 Mixed -Use Mar-20 $2,700,000 $291 If B - -- savills Adjustment Summary — Land Value STYE ATTRIBUTE COMPARISONS LOCATION 1 • I Similar ADJUST1 0% • 2 Inferior ADJUST1'ADJUST 10% Inferior 5% PARCEL SIZE ! SHAPE Superior -5% Superior -5% Superior __596 ZONING t DENSITY Inferior 5% Inferior 10% Inferior 15% ACCESS / VISIBILITY Similar 0% Similar Oho Similar 0% TRAFFIC TRIPS Similar 0% Similar 0% Similar 0% CORNER LOT Similar 0% Similar 0% Similar 0% TERRAIN f TOPOGRAPHY Similar 0% Similar 0% Similar 0% SALE PRICE CONDITION Superior -10% Superior -10% Superior -10% SALE DATE Inferior 10% Similar 0YD Similar 0% COVID-19 Superior -5% Superior -5% Superior _5% TOTAL ADJU STMENT _5% 0% 0% COMP ADDRESS1(SF) ZONING SALEDATE1JUST% ADJUSTIPRICEADJUSTISIF 1 250 SW 11€h St, Miami, FL 0.17 7,500 T6-24A-0 Jun-18 $2,250,000 S30C1 -5% S2,137,500 S285 2 2246 NE 2nd Ave, Miami FL 0.15 i6,643 T6-12-0 Apr-20 $1,750,000 S2r, , 0% S1,750,000 S263 3 900 NW 2nd Ave. Miami. FL 0.21 9,278 T6-8-0 Mar-20 $2,700.060 S29 , 0% S2,700,000 S291 The subject property is a vacant parcel located on the corner of Brickell Bay Drive and SE 12th Terrace in downtown Miami (Brickell Submarket). The irregular -shaped parcel is approximately 4,500 square feet and has a T6-48A-0 zoning designation. The mere size, irregular configuration and increased set backs leaves the subject property with a developable area of approximately 350 square feet, which leaves significant constraints for future development. However, based on an analysis from the city of Miami's Planning Department, the subject property comes with the transferable development rights of 48,000 square feet and 51 transferable density units to eligible sites within the city. Three comparable land sales were uncovered, all of which have similar site attributes and development density, and showed sale prices ranging from $263 to $300 per square foot. After making adjustments to each comparable property for factors such as location, parcel size/shape, zoning/density, access/visibility, traffic trips, corner site, terrain/topography, condition of sale, sale date, and COVID-19 the adjusted, savills Broker Opinion of Value - Conclusion sale prices ranged from $263 to $291 per square foot. The affect of COVID-19 on real estate values is still unknown, however we added a COVID-19 line item with a conservative -5% reduction across all the comparable properties. This number could change over the next 6-12 months as we see the affect of COVID-19 on commercial real estate values. LAND VALUE RANGE Based on the adjusted range of values above, Savills estimates the market value range of the 4,500+/- square foot parcel located at the 190 SE 1211 Ter, Miami, Florida to be valued between $263 - $291 per square foot: $1,183,500 - $1,309,500. GROUND LEASE VALUE RANGE Ground leases are typically long term (50-99 years), and greater than the useful life of the improvement. The ground lease rate is based on an agreed upon value of the land, rate of return (typically between 6%-12%), and rent escalations (either 2% annually or 10%-12% every 5 years). Due to the development restraints of the subject property, Savills recommends the rate of return to be on the lower end at 6%. Based on the Land Value Range above see below for the Ground Lease Value Range: Low End = $1,183,500 @ 6% Return = $71,010 ($5,918 / month) High End = $1,309,500 @ 6% Return = $78,570 ($6,548 / month) HIGHEST AND BEST USE The Highest and Best Use of the property would be to keep the lot vacant and sell the developmental rights of the property. savills Disclaimer BROKER OPINION OF VALUE DISCLAIMER: THIS IS NOT AN APPRAISAL This Real Estate Broker's Opinion of Value represents only the opinion of Savills to the value of the Subject Property, subject to the assumptions and qualifications set forth herein. Savills is not licensed to perform real property appraisals. Accordingly, this Real Estate Broker's Opinion of Value does not constitute an appraisal of the Subject Property and has not been prepared in accordance with the Uniform Standards of Professional Appraisal Practice. Savills (i) is entitled to rely on the sufficiency, accuracy and completion of all information provided by the Client, and shall not be required to supplement, validate or verify the same, (ii) is entitled to assume that the Subject Property is in good and sufficient condition and will not assess or consider the physical condition of the Subject Property or any of its systems or equipment, and (iii) did not assess any title, survey, legal, engineering, environmental or similar matters or conditions. In performing and preparing the Real Estate Broker's Opinion of Value, Savills has relied on its knowledge of comparable transactions but it is specifically acknowledged that such transactions are private and Savills's knowledge thereof may be inaccurate or incomplete, and that Savills is not warranting the accuracy or completeness thereof, or of conclusions based thereon. The Real Estate Broker's Opinion of Value set forth herein is specifically qualified by, and based solely upon, the relevant facts, circumstances, and market conditions that exist as of the date of this Real Estate Broker's Opinion of Value, and we undertake no obligation to update, modify, or supplement this Real Estate Broker's Opinion of Value to the extent that such facts, circumstances, or market conditions subsequently change. savills.us 12Savills --NO CAP C61JC. SEl2 peJp�... 9. '7W7Sg ez C RR 3.+Lq QL II,, WV a: - Undedicated Right -of -Way (red colored) to i. 4.39 3.96 .f.�„ " z ° P be dedicated if City pulls a permit for °z$ redevelopment. In addition to that area also 46 the area outside the round corner of a 25 foot radius arc, tangent to the base building lines. 4.43 y RSS710Rr ! The requirement or criteria for r/w dedication �eq5. ., is under City Code Section 54-58. p y 3.09 C.S.' U aro .e.zeS9, 4.42 v O; ,m $pp. A�C P 25,gQ' 8�71' +4.35 4.50 141 !!! r 6.50 P1 4 67 . J 3.74--- 17oP '14 P . cjry o'a 3.30 aRf11� LU 50.00 UP 110 -Yes ��•¢1CC (N.q.f,) CO PROPERTY NAME 190 SE 12th TERRACE, MIAMI, FLORIDA PROPERTY DESCRIPTION The subject parcel is approximately 6,000 SF and contains a 1,457 SF building which has a historical designation. The historic designation renders it eligible to transfer all unused development capacity and density to other eligible sites in the City. It is an irreguIarlyshaped lot located in the Brickell Submarket on the SW corner of Brickell Bay Drive and SE 12th Terrace. It is zoned T6-48A-0, which means the zoning designation allows for 48 stories by right and 80 stories through public benefit contributions. The density available on the site is 500 units per acre; however, the size and irregular shape of the lot basically render the lot undevelopable. There are approximately 48,000 SF of transferable development rights and 51 transferable density units available on this site. PROPERTY OVERVIEW STRENGTHS to BRICKEL • Located in the Brickell Submarket; one block BAY from Biscayne Bay !® SU BMARKET LOCATION • Zoned T6-48a-0, Urban Core Zone W EAKNESSES • The lot is an irregular shape • The property has a historic designation SIZE OCCUPANCY • Located within an 'established setback zone/ which would require a 25 ft setback • Based on the setback requirements, if 1 (�Z ■�i= developed, there would be no parking NONE • The property is considered undevelopable BUILT FLOORS OPPORTUNITIES • The zoning allows for 48 stories by right and 80 stories by public benefit contribution 2/1,000 Its historic designation allows for the transfer all unused development capacity and density to other eligible sites citywide. SITE ACREAGE PARKING RATIO C B R E LAND SALES COM PARABLES ADDRESS SF SALES PRICE/SF SALE DATE COMMENTS PRICE The White Building T6-80-0 (Urban Core) Zone 14,000 $12,900,000 $921.43 2/13/2019 Site previously had a 99-year 201-203 E. Flagler Street ground lease of a flat annual rent of $35,000. Site has a 2-story - Miami, 33132 25,556 SF building 151 NE P'Street Miami, 33131 CitizenM Brickell 15 SE 10't' Street, Miami, 33131 1428 Brickell Avenue Miami, 33131 FINANCIAL SUMMARY 15,000 $9,270,000 $618.00 11/13/2017 T6-80-0 (Urban Core Transect) Site was used as a surface parking lot; the parking lot operator paid $162,000/year to lease the site. The lease expired 7/31/18. T6-48b-O (Urban Core) Zone 10.956 $16,180,000 $1,476.82 9/28/2017 Located in Brickell Submarket Former Perricone's Restaurant 49,983 $26,500,000 $705.04 1/20/2017 *Please see attached spreadsheetfor calculations LAND LEASE COMPA RA BLES T6-48a-0 (Urban Core) Zone Same zoning as the subject property Located in Brickell Submarket 10-story office building Comparable land leases for a site of this type, in this location and with the density the site has does not exist in south Florida. CLARISSA V. WILLIS Senior Associate +1 305 381 6435 Lic. SL3148771 Clarissa.willis(a)cbre.com CBRE © 2020Ad Rgfls llosased. All infonmdian included in his popoaI palainingto CBRE including bdnot linaled to itso{emtm, employees todnobgyand clieits—ae pepidQyand ®didediol, and a 2pled with the undasin ndeg t of tleywill he held in canhilance and not dscbed to thid puteswdled tle prig walen crosant d CBR . % Wi/pnpmI 6 hie Ad vlety as ape lndmryexpessan ofganaaI into nines a s to be uTdfa dscussimpmpoTsonty. The pales daidtlot reitlei shall hat any®nhadml cidigatonstofie dherwilb repedtotie mallemdeeed heem anlessard antil a ddindie ageenenthas been fuMexeanledl and dekmdbyttepates%patesapehat thsletter/pcposalprotinlerdettocm4anyayeenedofdgatbnbyeihaputytoreg)tideaddmgeobaT/padtaTand !ale ageemantand impoesnodhtywhatsoevaon CBRE eitha putyto ®ntore nelidntims, indudhgg wBhod 6mttation anyobligdion to negdnte b good bdh a in anywayotlu than at um's length Pru to de limyof a ddmdie exemled ageermnt and willed a ny liabild4 tte rry, other paailha piny ray (1) pnpose d�kel iomsfemtlosesuranueed haenmg�ti , (7 enla into ntiomwdh dhdia er poan�or(3) unilaleollyleaninate ill negdntionsvdhtie dher podyhadn City Commission Marked Agenda October 8, 2020 PHA RESOLUTION 7611 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH Department of Real ATTACHMENT(S), BY A FOUR -FIFTHS (4/5THS) AFFIRMATIVE Estate and Asset VOTE, AFTER AN ADVERTISED PUBLIC HEARING, RATIFYING, Management CONFIRMING, AND APPROVING THE CITY MANAGER'S RECOMMENDATION AND WRITTEN FINDING, ATTACHED AND INCORPORATED AS EXHIBIT "A," PURSUANT TO SECTION 29- B(C) OF THE CHARTER OF THE CITY OF MIAMI, FLORIDA, AS AMENDED ("CITY CHARTER"); WAIVING THE REQUIREMENTS FOR COMPETITIVE SEALED BIDDING PURSUANT TO SECTION 18-85(A) OF THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED, BASED UPON RESOLUTION NOS. R-16-0347 AND R- 16-0348 ADOPTED JULY 29, 2016 AND SUBSEQUENT SPECIAL ELECTION RESULTS OF TUESDAY, NOVEMBER 8, 2016 WHICH AUTHORIZED THE RELATED AMENDMENT OF THE CITY CHARTER AS CERTIFIED BY RESOLUTION NO. R-16-0618 ADOPTED DECEMBER 8, 2016 (COLLECTIVELY, "APPROVALS"), AS NOT BEING PRACTICABLE OR ADVANTAGEOUS TO THE CITY OF MIAMI ("CITY"); AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE A LEASE AGREEMENT, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, BETWEEN THE CITY AND DADE HERITAGE TRUST, INC., A NOT -FOR -PROFIT CORPORATION ORGANIZED UNDER STATE OF FLORIDA LAWS, FOR THE CITY -OWNED BUILDING LOCATED AT 190 SOUTHEAST 12TH TERRACE, MIAMI, FLORIDA 33131 FOR A TERM OF THIRTY (30) YEARS WITH TWO (2) THIRTY (30) YEAR RENEWALS, FOR MINIMUM ANNUAL RENT OF SIX HUNDRED DOLLARS ($600.00) IN MONTHLY INSTALLMENTS OF FIFTY DOLLARS ($50.00), WITH CONSUMER PRICE INDEX ADJUSTMENTS, AND WITH RESTRICTIONS, REVERSIONS, AND RETENTION BY THE CITY OF ALL OTHER RIGHTS, INCLUDING BUT NOT LIMITED TO AIR RIGHTS, MINERAL RIGHTS, AND RIPARIAN RIGHTS, TO THE PROPERTY, WITH TERMS AND CONDITIONS AS MORE SPECIFICALLY TO BE SET FORTH IN SAID AGREEMENT IN ACCORDANCE WITH THE APPROVALS, AND ALL IN A FORM ACCEPTABLE TO THE CITY ATTORNEY. MOTION TO: Defer RESULT: DEFERRED MOVER: Joe Carollo, Commissioner SECONDER: Alex Diaz de la Portilla, Commissioner AYES: Hardemon, Russell, Diaz de la Portilla, Carollo, Reyes Note for the Reeord: Item PH.4 was deferred to the January 14, 2021, City Commission Meeting. City ofMiami Page 7 Printed on 10/1612020 ROM Estimate to Move Historic Structure (DRAFT) Building Location at 190SE 12Terrace, Miami, FL - Building Name: Dr. James M. Jackson Office of Surgery 01.27.21 Description Unit Quantity Unit Cost Total Cost 1 Scope by Structural Moving Company LS 1 $290,000.00 $290,000.00 Building prep for structure lifting including structural scope Building lifting and transportation to barge Building lifting and transportation to new site Building protection during transportation Building placement at designated location Police Escorts 2 Scope by the City I. Building and Site Prep for Structure Moving Temporarily Remove and Replant Trees EA 14 $2,500.00 $35,000.00 Remove and install traffic signs EA 5 $500.00 $2,500.00 Remove and preserve Heritage Trust Sign LS 1 $500.00 $500.00 Remove/Reinstall Light Post EA 1 $1,500.00 $1,500.00 Allowance for Maintenance of Traffic LS 1 $5,000.00 $5,000.00 Disconnect and cap water, sewer and power LS 1 $25,000.00 $25,000.00 Site restoration after building is removed (Sodding) SF 6000 $5.00 $30,000.00 Allowance for obstacles clearance for moving operation LS 1 $30,000.00 $30,000.00 Fence and Secure Site LS 1 $10,000.00 $10,000.00 II. Site Prep for New Location Allowance for clearance and demo at new site LS 1 $5,000.00 $5,000.00 Site Prep SF 4000 $10.00 $40,000.00 Building foundations SF 1457 $25.00 $36,425.00 Build access ramp ADA compliant LS 1 $5,000.00 $5,000.00 Building utility connections at new site LS 1 $40,000.00 $40,000.00 Building minor repairs post relocation LS 1 $25,000.00 $25,000.00 Placement of dedication plaque and historic site sign LS 1 $15,000.00 $15,000.00 Landscaping allowance LS 1 $50,000.00 $50,000.00 External lighting allowance LS 1 $20,000.00 $20,000.00 CCTV and WIFI allowance LS 1 $10,000.00 $10,000.00 Subtotal $675,925.00 Contingency 20% $135,185.00 Subtotal Construction Cost $811,110.00 Permits allowance 3% $24,333.30 Design allowance - New Site (Foundations, utilities, Site Access and Landscaping) 5% $40,555.50 OCI PM/CM 8% $64,888.80 Total Project Cost (Rounded) $940,900 Estimate Assumptions and Qualifications: a. Estimate was prepared to establish ROM estimate. b. Estimate will vary and will need to be revisited after additional information is provided, such us, final location of building structure c. Moving Structure work estimate by Flint and Doyle - 01.18.21 d. Estimate assumes that old site will be restored to ground level, sodded and fenced. e. Estimate assumes that trees at old site will be temporarily removed and replanted at the same location f. Estimate assumes that utilities at old site will be capped. g. Estimate assumes that traffic signs and on -street electrical utility at old site will be temporarily removed and reinstalled at same location h. Estimate assumes a new site with a lot size of 4,000 SF i. Estimate provides allowances for landscaping and lighting for new site j. Estimate includes a 20% contingency k. Estimate includes design consultant and OCI markups for Project Manager/Construction Manager I. Estimate excludes site acquisition and enviromental remediation (if required).