FISCAL IMPACT STATEMENT
P
ROGRAM: GARAGE 9 RENOVATION
RECOMMENDATION
TOTAL OR
CURRENT
ANNUALIZED
C OST
Direct Cost $3,462,279.00
Indirect Cost $798,421.00
TOTAL COST $4,260,700.00
Additional
Revenue or Savings
Generated
Net City Cost $4,260,700.00
Amount Budgeted
(If none budgeted,
i
dentify source)
S
UMMARY OF INDIRECT COSTS
P
roject Management $ 348,900.00
Construction Management $ 51,200.00
Miscellaneous Costs (City Procured Equipment, Lab Costs, Permits etc.) $ 198,321.00 Construction Contingency $ 200,000.00
TOTAL INDIRECT COST $ 798,421.00
The total budget allocated for the Garage 9 Renovation Project is $4,093,583.19. Of this amount, $264,002.28 was expended and encumbered by the end of Fiscal Year 2024.
The remaining $3,829,580.91 was carried over to Fiscal Year 2025. The construction contract is fully funded and an additional $167,116.81 will be allocated to the project in Fiscal Year 2026 to address the funding gap for contingency and construction management to ensure the project’s completion.
$3,829,580.91