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Projected Budget Estimate

Following are three projected budget estimates. The first was prepared by the Wolfe County Monument Advisory Board (Feb 06) based on revisions to the original Certec, Inc, budget found in the Economic Impact / Feasibility Study to reflect the current status of the project. The second is the original Certec, Inc budget estimate. The third was prepared by John L. Carman and Associates, Architects, Lexington, KY.

The Executive Board accepts the figure of $13.25 million as a reasonable estimate.

Construction Estimate for

The Eastern Kentucky Heritage Monument

Wolfe County Monument Advisory Board

Estimate compiled by the Wolfe County Monument Advisory Board incorporating the original numbers generated by Certec, Inc, Lexington, KY, in their Economic Impact / Feasibility Study for the Eastern Kentucky Heritage Monument. These numbers reflect the current scope of the project which includes the adjacent land necessary for parking.

Item Notes Cost
Land 100 acres at $5,000 per acre $500,000
Site Preparation   $100,000
Visitor Center- 10,000 sq ft Interior/exterior. High tech systems. Size of indoor theater to be added to dimensions. $4,500,000
Indoor Theater 180 - 250 seats $1,500,000
Utilities/Landscaping/Lighting   $250,000
Access Road/Parking/Signage   $750,000
Amphitheater   $100,000
Nature Trail/Landscaping   $250,000
Monument Site Instrument fabrication, materials, viewing platform, etc. $5,000,000
Architectural/Engineering/Scientific fees   $200,000
Initial General Development /Admin/Grant writing   $80,000
  TOTAL $13,230,000

Initial Projected Budget

Welcome / Information Center

Following is the original projected budget. As it turns out, it was a bit low. But please remember that The Eastern Kentucky Heritage Monument is a grassroots initiative. We have learned a great deal. The important thing is that it must be done correctly.

Site Preparation


Land 30 acres @ $10,000 per acre


Administration (salaries, office, etc)


Architecture Fees


Engineering Fees


Utilities / Access Road


Parking, Landscaping, Lighting






Web Design / Web Master / Upkeep




10,000 sq. foot Interpretive/Welcome Center


Technical displays / Computer Kiosks


Environmental Impact Study


Architectural Renderings/Graphics


Printing / Office supplies / Postage


Project Planning and Design


Total- Visitor Info Center $ 2,772,500

Initial Projected Budget

Monument Site

Architecture Fees $40,000
Engineering Fees $40,000
Specialists / Consultants / Experts Fees $40,000
Artists Fees / Consultants $225,000
Construction / Materials / Labor $2,500,000
Landscaping $70,000
Partially underground rest rooms $40,000
Viewing Platform $250,000
Total - Monument site $3,205,000
Total - Visitor Info Center $2,772,500
Grand Total $ 5,977,500

Construction Estimate for

Eastern Kentucky Heritage Monument

John L. Carman and Associates

Phase B –Estimate of Probable Construction Cost for Site Development     Feb 02, 2006

Eastern Kentucky Heritage Monument

JLC Project #05-107

Subtotal: Site survey, layout, demolition, testing, quality control, excavation, grading, erosion control, utilities, asphalt, concrete, site accessories, landscape, outdoor amphitheater, 10,000 SF visitor center, Monument Site.  Specific details available. $13,567,822.80
Work Item Unit Unit Cost Quantity Extension
Contractor overhead and profit 0.12     $1,628,138.74
Prevailing wage rate increase 0.12     $1,823,515.38
Contingency 0.15     $ 2,035,173.42
Architectural/Engineering Fees 0.075     $ 1,017,586.71
Land Acquisition acre $5,000.00 100 $500,000
Estimated Probable Construction Cost Total       $ 20,572,237.05

The primary difference in the above estimate from the Monument Advisory Board estimate is that the contractor overhead and profit, prevailing wage rate increase, contingency, and architectural/engineering fees were figured separately by John L. Carman and Associates and added to the estimate of the construction costs. The construction costs by Carman were in line with the Monument Advisory Board estimate. The costs added by Carman were included in the general categories of the Advisory Board estimate. Both estimates are higher than the original projected budget. However, the goal is to produce a "World Class" venue.