06-09-08 Special Called Meeting of the La Porte Development Corporation Board of Directors

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Sylvan Beach Shoreline Protection and Nourishment Project Technical Memorandum of Survey Update and Cost Estimate Summary 3.0 COST ESTIMATE UPDATE The update to the cost estimate involved three major modifications as it relates to the project. The modifications are as listed below: · Price level adjustments as it relates to the rise in costs based on inflation between 2003 and 2008. · Changes to quantities related to the updated survey information; and · Additions/Changes to the estimate that were previously not included. Price Level Adiustments Items within the cost estimate were revised based on adjustments in price levels from 2003 to 2008. The main adjustments occurred to the following items located in Table 1 below: Table 1: Price Level Adjustments in Estimate Item Armor Stone Crushed Concrete Fill Sand Aluminum Bleacher Seat 2003 Cost $ 50.00 $ 20.00 $ 15.00 $ 300.00 2008 Cost $ 68.00 $ 29.00 $ 22.00 $ 350.00* *Price may increase if a more architectural appealing option is selected. Costs for armor Stone varied based on the contractor and the type of stone. Two different types of armor Stone were priced out based on required specifications and aesthetic quality. The vendors, stone type, delivery methods, and total costs are shown in Table 2 below: Table 2: Armor Stone Suppliers SUDDlier Gulf Coast Limestone Avila Stone Luhr Brothers Stone ~ Limestone Granite Limestone Deliverv Method Truck Barge Barge Total Cost Ranae Delivered and Installed lDer ton) $67.00 - $77.00 $52.00 - $72.00 $65.00 - $75.00 *Range varies due to fuel costs 3-1 Last Revised: OS/23/08