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significant escalation in costs for this project. This is borne out by other construction bids the City and other jurisdictions have been receiving in this same three-year period. As provided for in the VCSP Financing Program adopted by City Council, as staff became aware of cost escalations for the construction of core Specific Plan infrastructure, Specific Plan fees have been adjusted to account for the increased costs. In addition, as infrastructure has been constructed, real costs have been replacing cost estimates in determining Specific Plan fees. A summary of water facility cost estimates is attached as Exhibit C which indicates the construction cost escalation for these facilities. From 2001 to the present, Specific Plan fees per dwelling unit equivalent (DUE's) have escalated from $41,116 per DUE to a current fee amount of $55,000, a 33% increase over a five-year period. The $55,000 per DUE amount was calculated before the tank bid just received by the City. Based upon the tank bid and updated estimated construction and other construction related costs for the remaining water facilities and other infrastructure commitments, the new VCSP fee is now estimated to be $62,500 per DUE. Currently, staff is estimating that the combined total cost (not just construction costs, but all remaining design and construction management costs included) for the water facilities remaining to be constructed within the VCSP area to be approximately $8.5 million. This includes the recommended award of the tank and rough-graded access.. road bid and recommended construction management/soils engineering work that are the subjects of this staff report. The updated. estimate of $8.5 million includes all design, construction management, soils engineering, construction staking, permitting and utility work (needed for the pump station) for the project. The table below shows the new estimates of the remaining work related to water facilities: Water Tank Bid Price Construction Support Contingency Subtotal $3,942,206 $507,000 $152,000 $4,601,206 Completion of Access Road Design Fees (remaining) Construction Estimate Construction Support Subtotal $120,000 $1,000,000 $100,000 $1,220,000 SR06:152 Page 9 of 13