Projected Budget Estimate
Following are three projected budget estimates. The first was prepared by the Wolfe County Monument Advisory Board (Feb 06) based on revisions to the original Certec, Inc, budget found in the Economic Impact / Feasibility Study to reflect the current status of the project. The second is the original Certec, Inc budget estimate. The third was prepared by John L. Carman and Associates, Architects, Lexington, KY.
The Executive Board accepts the figure of $13.25 million as a reasonable estimate.
Construction Estimate for
The Eastern Kentucky Heritage Monument
Wolfe County Monument Advisory Board
Estimate compiled by the Wolfe County Monument Advisory Board incorporating the original numbers generated by Certec, Inc, Lexington, KY, in their Economic Impact / Feasibility Study for the Eastern Kentucky Heritage Monument. These numbers reflect the current scope of the project which includes the adjacent land necessary for parking.
| Item | Notes | Cost |
| Land | 100 acres at $5,000 per acre | $500,000 |
| Site Preparation | $100,000 | |
| Visitor Center- 10,000 sq ft | Interior/exterior. High tech systems. Size of indoor theater to be added to dimensions. | $4,500,000 |
| Indoor Theater | 180 - 250 seats | $1,500,000 |
| Utilities/Landscaping/Lighting | $250,000 | |
| Access Road/Parking/Signage | $750,000 | |
| Amphitheater | $100,000 | |
| Nature Trail/Landscaping | $250,000 | |
| Monument Site | Instrument fabrication, materials, viewing platform, etc. | $5,000,000 |
| Architectural/Engineering/Scientific fees | $200,000 | |
| Initial General Development /Admin/Grant writing | $80,000 | |
| TOTAL | $13,230,000 |
Initial Projected Budget
Welcome / Information Center
Following is the original projected budget. As it turns out, it was a bit low. But please remember that The Eastern Kentucky Heritage Monument is a grassroots initiative. We have learned a great deal. The important thing is that it must be done correctly.
| Site Preparation |
$100,000 |
| Land 30 acres @ $10,000 per acre |
$300,000 |
| Administration (salaries, office, etc) |
$125,000 |
| Architecture Fees |
$30,000 |
| Engineering Fees |
$30,000 |
| Utilities / Access Road |
$250,000 |
| Parking, Landscaping, Lighting |
$200,000 |
| Trail |
$200,000 |
| Signage |
$20,000 |
| Web Design / Web Master / Upkeep |
$47,500 |
| Amphitheater |
$100,000 |
| 10,000 sq. foot Interpretive/Welcome Center |
$1,250,000 |
| Technical displays / Computer Kiosks |
$70,000 |
| Environmental Impact Study |
$8,000 |
| Architectural Renderings/Graphics |
$5,000 |
| Printing / Office supplies / Postage |
$5,000 |
| Project Planning and Design |
$32,000 |
| Total- Visitor Info Center | $ 2,772,500 |
Initial Projected Budget
Monument Site
| Architecture Fees | $40,000 |
| Engineering Fees | $40,000 |
| Specialists / Consultants / Experts Fees | $40,000 |
| Artists Fees / Consultants | $225,000 |
| Construction / Materials / Labor | $2,500,000 |
| Landscaping | $70,000 |
| Partially underground rest rooms | $40,000 |
| Viewing Platform | $250,000 |
| Total - Monument site | $3,205,000 |
| Total - Visitor Info Center | $2,772,500 |
| Grand Total | $ 5,977,500 |
Construction Estimate for
Eastern Kentucky Heritage Monument
John L. Carman and Associates
Phase B –Estimate of Probable Construction Cost for Site Development Feb 02, 2006
Eastern Kentucky Heritage Monument
JLC Project #05-107
| Subtotal: Site survey, layout, demolition, testing, quality control, excavation, grading, erosion control, utilities, asphalt, concrete, site accessories, landscape, outdoor amphitheater, 10,000 SF visitor center, Monument Site. Specific details available. | $13,567,822.80 | |||
| Work Item | Unit | Unit Cost | Quantity | Extension |
| Contractor overhead and profit | 0.12 | $1,628,138.74 | ||
| Prevailing wage rate increase | 0.12 | $1,823,515.38 | ||
| Contingency | 0.15 | $ 2,035,173.42 | ||
| Architectural/Engineering Fees | 0.075 | $ 1,017,586.71 | ||
| Land Acquisition | acre | $5,000.00 | 100 | $500,000 |
| Estimated Probable Construction Cost Total | $ 20,572,237.05 | |||
The primary difference in the above estimate from the Monument Advisory Board estimate is that the contractor overhead and profit, prevailing wage rate increase, contingency, and architectural/engineering fees were figured separately by John L. Carman and Associates and added to the estimate of the construction costs. The construction costs by Carman were in line with the Monument Advisory Board estimate. The costs added by Carman were included in the general categories of the Advisory Board estimate. Both estimates are higher than the original projected budget. However, the goal is to produce a "World Class" venue.