Key Biscayne Master Plan 043944000.18w_Key_Biscayne_MP(forJooMag) | Page 121

12.0 OVERALL PROGRAM OPINION OF PROBABLE CONSTRUCTION COST
Village of Key Biscayne
Overall Program Opinion of Probable Cost - August 2018
Item No.
Opinion of
Probable Cost
Description
1 FPL Overhead to Underground Conversion
$10,200,000
2 CATV Overhead to Underground Conversion $1,300,000
3 Telephone Overhead to Underground Conversion $2,800,000
4 FPL Direct Costs $6,200,000
5 CATV Direct Costs 6 Telephone Direct Costs $1,900,000
7 Install FPL Services $1,500,000
8 Install Telephone and CATV Service Conduit $2,400,000
$800,000
9 Impacted Street Light Replacement (Village Custom) $1,100,000
10 Restoration $6,000,000
11 Construction Management $3,800,000
12 Engineering/Permitting/Surveying $2,000,000
13 Construction Administration $1,800,000
14 Legal Fees/Easement Acquisition $500,000
15 Public Outreach $300,000
16 Credits 17 FPL Credit - 25% GAF Waiver
$(4,400,000)
18 Subtotal Undergrounding Project Costs $38,200,000
19 10% Contingency $3,800,000
20 Inflation $4,800,000
21 Total Undergrounding Project Costs $46,800,000
Optional Items to Consider
"Vista" Style Switch Cabinets (estimated at 40 total)
Additional Street Lights (Village Custom)
$2,400,000
$400,000
Extra Conduit for Future Utility Lines (Including FTTP) $5,300,000
Roadway Improvements - Mill and Overlay Impacted Roads $3,600,000
Roadway Improvements - Raising Roads Impacted by Storm
Improvements $9,800,000
Roadway Improvements - Traffic Calming $1,000,000
Water Main Replacement (AC and Unkown) $3,800,000
Sidewalks (Safe Routes to Schools Program, Budget est. by Village) $1,000,000
Stormwater Improvements (From Stormwater Master Plan)
$23,470,000
Equipment Screening (Included in conversion costs) $ -
Beautification (Cost varies depending on level of improvements) $ -
the underground system, in accordance with
budget cost estimates provided by FPL and the
FPL Tariff. In the latest tariff revision, effective
February 22, 2018, certain elements of the CIAC
calculation can be excluded if the applicant
intends to convert existing non-hardened feeder
facilities to underground feeder facilities. The
calculation would exclude the cost to remove
the existing overhead feeder facilities and the
net book value of those feeder facilities. In turn,
however, the applicant does not get credit for the
estimated salvage value of the existing overhead
facilities to be removed. Despite that, the revision
typically results in a lower CIAC to be paid by the
applicant.
It is our understanding that there are two
proposed bills making their way through the
legislature that may provide some additional
incentive for FPL customers to underground
their utilities, potentially allowing FPL to tap into a
pool of money they ordinarily would only be able
to access for storm recovery efforts. There are
limitations on how much of this may be accessed
to maintain reasonable electric rates. Assuming
these bills get approved by the state, it would
be up to the PSC to adopt rules to implement
and administer the law. Because those details
are unclear at this point and the bills have not
yet passed, the topic will need to be discussed
during negotiations with FPL ahead of the design
phase of this project.
12.6 Inflation
The Construction Cost Index (CCI) as calculated
by Engineering News-Record was used to
estimate an average inflation rate to be applied to
this program. The CCI tracks the change in price
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