Truth, Part VII–Figures Lie and Liars Figure
The cost sheet I had presented projected a total cost of $341,401.50 for the conversion. These numbers were based on full material breakout sheets and many hours of calculations based on my experience in the industry. While any estimate can be in error and omit items, it is hard to believe I could have been so far off as the two ‘professionals’ concluded.
Ms. Flanagan at Women’s Institute for Housing and Economic Development (WIHE)submitted a cost sheet which projected the price to be $913,036.
While I have glared at these two ‘professional’ projections, I have yet to make any real sense out of them.
Here are some differences between the SHW and WIHE proposals:
|Item||SHW Proposal||WIHE Proposal|
|Acquisition Cost||$350,000||$ 0|
|Architect/Engineer/Survey||$ 35,000||$ 15,000|
|Environmental||$ 50,000||$ 30,000|
|Market Study||$ 5,000||$ 0|
|Risk/Liability/Hazard Ins.||$ 2,000||$ 50,000|
|Legal Counsel||$ 4,886||$ 35,000|
|Permits||$ 2,000||$ 10,000|
I can’t go on any further since this is making me ill.
How can there be such wild variations?
Why does one need a market study and the other doesn’t?
Why does the SHW proposal give a project name of Vine Street in Bridgeport and says it involves 3 two bedroom units?
One is based on $125.00 per square foot while the other is based on $200.00 per square foot.
Print the two proposals … lay them side by side … you tell me.
Obviously no one on the SAHC did this.
To be continued …