Finders Fee Real Estate

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					CEDAR RAPIDS DOWNTOWN LIBRARY PROJECT COST COMPARISON
MATRIX
OPN ARCHITECTS, INC.
DECEMBER 17, 2008
MAY 7, 2009 - Revised
June 4, 2009 - Revised                                            EXHIBIT 7
                                                                                                                          June 4, 2009
                                                                                                                  BUILD NEW MAIN LIBRARY ON
                                                                                                                  DIFFERENT SITE - UPDATED &
   PROJECT COST BREAK-DOWN                                                                                             REVISED BUDGET

   Demolition / Site Preparation Cost                                                                                                      750,000

   Construction Cost (Option C-1) 103,910 SF x $180/SF                                                                                   18,703,800

   Site Development (Option C-2) 312 Space Parking Ramp x $15,000 / parking space plus sidewalks, drives, etc.)                           5,000,000

   Furnishings (Option C-1) 103,910 SF x $20/SF                                                                                           2,078,200

   Site Furnishings (Benches, Bike Racks, Flagpoles, etc.)                                                                                 150,000

   A/E Fees (8.5% of construction and site development costs listed above)                                                                2,204,220

   Furnishings Design Fee (10% of interor & site furnishings)                                                                              222,820

   LEED Design/Documentation & Energy Modeling Fee (0.35% of construction and site dev. costs listed above)                                 68,739

   LEED Registration & Certification Fees (USGBC)                                                                                            3,425

   Commissioning Agent ($0.75 per sf - fundamental commissioning req. for LEED)                                                             77,933

   Technology & Telecom Design Fees (0.25% of construction and site dev. costs listed above)                                                49,100

   Library Building Consultant (Revisit the Building Program - Post Flood)                                                                   7,500

   Cost of Land (Varies greatly depending on location – for this example assume $1,000,000 per city block)                                1,500,000

   Site Lighting                                                                                                                             8,000

   Interior Signage (0.5% of construction costs – Range Finders and Major Way-Finding Signs)                                                93,519

   Soil Borings/ Site Survey (Varies depending on location, site size)                                                                      20,000

   Construction Testing (Soils compaction, concrete strength, welds, etc.)                                                                  25,000

   Landscaping & Landscape Design Fees (Varies greatly depending on location, site size)                                                    75,000

   Printing / AEPlans Upload Fee (0.25% of construction & site dev. Costs listed above)                                                     59,260

   Misc. Reimbursable Expenses (0.25% of const./site costs, incl. travel, shipping, copies, etc.)                                           59,260

   Exterior Signage                                                                                                                         10,000

   Fund Raising Consultant (varies depending on scope of work)                                                                                 N/A

   Bond Issue Cost (varies by community)                                                                                                       N/A

   Book Security System (including supplies & 3 gates)                                                                                      45,000

   Auto Circulation System (OPAC)                                                                                                              N/A

   Self-Check-Out Station ($28,000 per station x 8, not including furniture)                                                               224,000

   Moving Expense (Many libraries use community volunteer labor – consider liability)                                                       60,000

   Legal Fees (Real Estate Acquisition, Donation Requirements, Review of A/E/C Contracts)                                                      N/A

   Dedication Party (Invitations, Decorations, Food & Beverages, Entertainment)                                                              1,000

   Public Art (1% of Total Project Cost)                                                                                                   314,958

   Contingency (5% of Total Project Cost)                                                                                                 1,574,789

   Contents (Print & Media Collection, Office Equipment, Computers (public & staff), etc.                                                 8,921,800

   Endowment (10% of Total Project Cost)                                                                                                  3,149,577

   Total Project Cost (Not Including Space for I.S.A.I.C. - 15,357 SF)                                                               45,456,898




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BREAKDOWN OF REPAIR / REMODELING COSTS FOR EXISTING CEDAR
RAPIDS DOWNTOWN LIBRARY
OPN ARCHITECTS, INC.
DECEMBER 17, 2008




  Second Level Improvements

  Demolition Cost (23,250 SF x $5/SF)                               116,250

  Construction Improvements (23,250 SF x $110/SF)                  2,557,500

  Skywalk Connection Improvements (Allowance)                        30,000

  Main Level Improvements

  Demolition Cost (59,250 SF x $5/SF)                               296,250

  Construction Improvements (59,250 SF x $110/SF)                  6,517,500

  Additional Improvements to Mezzanine (Allowance)                  125,000

  Exterior Improvements

  New Window System (7,000 SF x $65/SF)                             455,000

  New Light Monitor (Allowance)                                     300,000

  Landscape/Hardscape Improvements (Allowance)                      600,000

  Green Roof (37,950 SF x $30/SF)                                  1,138,500

  Total Construction Cost for Option A                            12,136,000




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