Laserfiche WebLink
6 <br />5. Costs associated with handling property which cannot be sold, donated or moved <br />(estimated at $1 million) <br />6. Costs associated with providing relocation benefits and acquiring property ($7.3 <br />million increase) <br />7. Costs associated with defending legal claims against the City (estimated at over <br />$1 million). <br /> <br />The largest contributor to the increase in costs is the cost of acquiring property from <br />tenants. At the time of adopting the Docktown Plan, staff had assumed that some <br />tenants would move or sell their property on their own; however, this has not occurred. <br />Additionally, the number of tenants contesting their level of relocation benefits and their <br />property appraisals was greater than expected, which increased costs. <br />The table below provides an updated projected two-year cost of implementing the <br />Docktown Plan, based on current information. Most costs will be incurred in FY 2017- <br />18. <br />FY 2016-17 and FY 2017-18 Costs Associated with Relocation of Residential Uses <br />at Docktown Marina <br />Estimated cost of acquisition and relocation benefits provided to tenants <br />and sub-tenants <br /> <br />Acquisitions of barge-based dwellings $14,500,000 <br />Acquisitions of boats $600,000 <br />Relocation benefits $1,000,000 <br />5% contingency $800,000 <br />Subtotal $16,900,000 <br /> <br />Professional costs associated with Plan implementation (relocation firm, <br />project management, legal advice on implementation of Docktown Plan, <br />benefits appeal hearing officer, appraisers, removal of any vessels which <br />cannot be sold or donated, marina security) <br />$2,400,000 <br />Legal Defense of Claims Made Against the City $1,100,000 <br />Cost share - Capital Costs for Port to Support Live Aboards at Municipal <br />Marina <br />$400,000 <br /> <br />Estimated Total Cost $20,800,000 <br />6.1.B. - Page 6