Natatorium/Surface Parking and Site Improvement
Estimated Project Costs
Construction Costs:
Construction Bids (55% City Share).........$9,752,270
Non-construction Costs:
Construction management.......................$300,000
Construction contingency.........................$487,600
Architectual fees & reimbursables............$760,872
Sub-total ................................................$1,548,472
Bond Issuance Cost:
Under writing fees-1.25% .....................$154,688
Issuance costs & contingency ...............$375,000
Sub-total .............................................$529,688
Interest:
Capitalized interest through
and including 2/1/2008 .....................$1,005,211
Less estimated interest
earnings at an assumed
rate of 3.0% ......................................($141,000)
Sub-total ...........................................$865,211
Project Contingencies ........................$228,360
Total Project Cost .............................$12,924,000
Project Funding
Proposed Lease Rental
Revenue Bonds ..............................$12,375,000
City and County funding (1) ...........$549,000
Total project funding .....................$12,924,000
(1) Includes $275,000 from City of New Albany and $274,000 from Floyd County.
H.J.Umbaugh & Associates dated June 6, 2006
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Memorandum
New Albany Redevelopment Commission
Subject: Request for Public Records
There was not a feasibility study done on phase I of Scribner Place. However, there will be one done in phase II that will be available to you at a later date.
If you have any questions or need any additional information, please contact me.
Thanks
Freedom Of Speech would like to say:
To many questions and not enough answers pertaining to The Scribner Place Project. If they build it "will they come?" Is this New Albany's so called "Field of Dreams" and save all project? Or did the YMCA just mislead everyone on this project?
