FY 2023-2028 CIP Budget Book

CONSTRUCTION ADMINISTRATION COSTS AS A PERCENTAGE OF ESTIMATED PROJECT COSTS DESIGN COSTS AS A PERCENTAGE OF TOTAL CONSTRUCTION COSTS ESTIMATED PROJECT COST ADMIN. COST PERCENTAGES ESTIMATED CONSTRUCTION COST DESIGN COST PERCENTAGES Over $10 Million 8 % Over $10 Million 10% $5 Million to $10 Million 1 0 % $5 Million to $10 Million 1 2 % $1 Million to $5 Million 1 5 % $1 Million to $5 Million 15% $ 500,000 to $ 1 Million 20 % $ 500,000 to $ 1 Million 1 8 % $ 100,000 to $ 500,000 25 % $ 100,000 to $ 500,000 20 % Less than $ 100,000 30 % Less than $ 100,000 2 5 % CONSTRUCTION COSTS LAND ACQUISITION COSTS BUILDING TYPE ESTIMATED COST PROPERTY ZONING ESTIMATED COST (vacant, per s.f.) Industrial Property $ 2 2 .00 (sf) Commercial/Retail/Office $ 40 .00 (sf) Rural/Residential $3.50 (sf) Flood Plain $1. 5 0 (sf) Assembly Use Building Public Office Building Multi-Family Housing Community Park Neighborhood Park Multi ‐ Family Residential $ 9 . 0 0 (sf) $ 55 0 (sf) $ 45 0 (sf) $ 30 0 (sf) $ 5 00,000 (acre) $ 4 00,000 (acre) Single ‐ Family Residential $ 6 . 0 0 (sf) The percentages and costs shown above are average costs based on prior year average costs. These values are used for general estimating and budgeting purposes only. Future cost projections include a 2% inflation ary index increase. Actual costs for each project are verified and updated during the design and construction phases. Parameters for CIP Cost 19