Laserfiche WebLink
G��� N�-Z <br /> of the total project eligible costs of $15,544,165. There is also an additional $1,418,085 <br /> of ineligible project costs that the State will not fund. <br /> After completion of the project, ten percent of the Grant Funds will be retained by the <br /> State until the State performs an audit on the expenditures and certify th,at he costs are <br /> appropriate. The following tabie summarizes the budget: <br /> Ciry's Share <br /> State Share GID 1-64 Total <br /> Eligible Amount $10,103,707 (65%) $5,440,458 (35%) $15,544,165 <br /> Ineligible Amount $ 0 1 418 085 $ 1.418.085 <br /> Total Project Costs $10,103,707 $6,858,543 $16,962,250 <br /> Appraised Value of Land ($3.860.000)' ($3.860.000) <br /> GID 1-64 Funds Req. $2,998,543 <br /> Construction & Soft Costs (Est.) $13,100,000 <br /> Therefore, to cover the Construction and soft costs, the State will provide Grant Funds <br /> in the amount of $10,103,707, and the City has budgeted $3,000,000 from GID 1-64. <br /> * The City has received land credit and cash from the State in the amount of <br /> $3,860,000 based on the appraised value of the land. <br /> � <br /> /- , <br /> ���/I�C���J " <br /> � <br /> Brian Lee ruce Liedstrand EtJ Ever tt <br /> Senior Civil Engineer Community Development Services Director City Manager <br /> 9�:ss <br /> S/library/reportsibrian/Amendment N3 anderson brule=RWS Branch library <br /> Page 2 of 2 <br />