WS - C - Village Drive Extension Cost Estimates

Tiffin, IA <table> <tr> <th>Village Drive Summary</th> <th>City Portion</th> <th>Villages L.C.<br>Villages when shared</th> </tr> <tr> <td>Total Project Cost *</td> <td>$2,433,880.50</td> <td></td> </tr> <tr> <td>Village Drive adjacent to Water Tower</td> <td>$411,884.60</td> <td>$56,034.60</td> </tr> <tr> <td>Adjacent to Burd Property</td> <td>$52,534.05</td> <td>$47,743.05<br>City can asses the Burd lot for future development</td> </tr> <tr> <td>Water Main</td> <td>$370,190.50</td> <td>$223,536.10</td> <td>$146,654.40</td> </tr> <tr> <td>Paving</td> <td>$744,330.65</td> <td>$163,767.00</td> <td>$580,563.65</td> </tr> <tr> <td>Sidewalk 10' trail extention</td> <td>$142,227.45</td> <td>$88,583.40</td> <td>$53,644.05</td> </tr> <tr> <td>Totals</td> <td></td> <td>$940,305.15</td> <td>$884,639.75</td> </tr> </table> Total <table> <tr> <td>Villages</td> <td>$1,493,575.35</td> </tr> <tr> <td>City</td> <td>$940,305.15</td> </tr> <tr> <td>Total Check</td> <td>$2,433,880.50</td> </tr> <tr> <td>Villages Credit on costs for TIF</td> <td>$(500,000.00)</td> </tr> <tr> <td>Total Cost Developer</td> <td>$993,575.35</td> </tr> <tr> <td>Total Costs City</td> <td>$1,440,305.15</td> </tr> </table> * If bids are lower each costs will be reduced within its category Propose to start in Spring 2024 and City can budget 1/2 in 24 1/2 in 2025