Central Skagit Regional LibraryCentral Skagit Regional LibraryBoard of Directors Board Meeting

June 13, 2016

Presentation Overview:

Case Studies of Recent Library ProjectsCase Studies of Recent Library Projects

Anticipated Project Cost for CSRL

Escalation Factors

Renovation Scenario

Camano Island Library

• 4,900 SF New Facility

• Developed Site (Purchased)

• Remodel

Construction Cost: $ 920,000 ($187/sf)( )Soft Costs: $1,245,000 (58%)Total Project Cost: $2,165,000

Cost/SF: $442/SFCost/SF: $442/SF

Designs Northwest/Stig Carlson Architects

Orcas Island Library

• 6,000 SF Expansion

• Existing Site (Owned)

• New Construction

Construction Cost: $2,767,000 ($461/sf)( )Soft Costs: $1,040,983 (37.6%)Total Project Cost: $3,767,983

Cost/SF: $628/SFCost/SF: $628/SF

Upper Skagit Library Planning

• 3,000 SF New Facility

• Undeveloped Site (Gifted)

• New Construction

Construction Est: $1,731,781 ($577/sf)( )Soft Cost Est: $ 554,170 (32%)Total Project Est: $2,285,951

Cost/SF: $762/SFCost/SF: $762/SF

La Conner Library Planning

• 4,700 SF New Facility

• Developed Site (Owned)

• New Construction

Construction Est: $2,409,514 ($512/sf)( )Soft Cost Est: $ 515,599 (18%)Total Project Est: $2,925,113

Escalated to 2018 $3 224 937Escalated to 2018 $3,224,937

Cost/SF: $622/SF / $686/SF (esc.)Miller Hull Architects

Mount Vernon Library Planning

• 40,400 SF New Facility

• Developed Site (Owned)

• New Construction

Construction Est: $15,950,827 ($385/sf)( )Soft Cost Est: $ 6,754,204 (30%)Total Project Est: $22,705,031

Cost/SF: $562/SFCost/SF: $562/SF

Berk/SHKS Architects

Ferndale Public Library

• 15,500 SF New Facility

• Developed Site (City-Owned)

• New Construction

Construction Est: $3,985,000 ($257/sf)

SHKS Architects

( )Soft Cost Est: $ 642,000 (16%)Total Project Est: $4,627,000

Cost/SF: $298/SFCost/SF: $298/SF

Granite Falls Library (2001)

• 6,300 SF New Facility

• Undeveloped Site (City Owns)

• New Construction

Construction Est: $ Could not ConfirmSoft Cost Est: $ Could not Confirm Total Project Est: $1,600,000

Cost/SF: $254/SF (2001 dollars)Cost/SF: $254/SF (2001 dollars)

Berk/SHKS Architects

Overall Range

$289/SF $762/SF$289/SF - $762/SF

Recommended Estimate (2018 Dollars)

Renovation on Developed Site $450/SF x 1.08% = $486/SFNew on Developed Site $625/SF x 1.08% = $675/SFNew on Undeveloped Site $750/SF x 1.08% = $810/SF

Estimated Fund Balance in 2018$2.0 Million

Bond Capacity in 2018$1.6 Million

Potential Budget$3.6 Million (2018)

Berk/SHKS Architects

General Project Scenarios - $3.6 Million Project (2018)

R ti D l d Sit $486/SF 7 407 SFRenovation on Developed Site $486/SF = 7,407 SFNew on Developed Site $675/SF = 5,333 SFNew on Undeveloped Site $810/SF = 4,444 SF

Berk/SHKS Architects

Note: Depends solely on the individual property conditions.

Costs and Escalation – Remodel Scenario (2018)

R ti D l d Sit $486/SF 7 407 SFRenovation on Developed Site $486/SF 7,407 SF

Project Budget: $3,600,000Construction Estimate: -$1,614,726 ($218/sf)

Berk/SHKS Architects

$ , , ($ )Soft Cost Balance: $1,985,274 (55%)

Costs and Escalation

C t ti E ti t $ 1 614 726Construction Estimate $ 1,614,726

Escalation per year (4%) $ 64,589

Berk/SHKS Architects

Renovation Scenario

Square Footage 9000 SF$Acquisition $1,750,000

Remodel Est. @ $218/SF $1,962,000 (2018 dollars*)Soft Cost Estimate $ 588,600 (30%; w/o purchase costs)Total Project Estimate $4,300,600Total Project Estimate $4,300,600Budget $3,600,000Balance ($ 700,600)

*A j t t l l i t*Assumes no major structural or envelope improvements

Central Skagit Regional LibraryCentral Skagit Regional LibraryBoard of Directors Board Meeting

June 13, 2016