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CONSTRUCTION COSTS <br /> <br />The following estimates of probable construction costs were <br />developed for the building outlined in the space allocation <br />program. These costs were assembled through a comparative <br />analysis of a dozen other community centers, the Architects, <br />Contractors & Engineers Guide to Construction Costs, and the <br />Means Building Construction Cost Data 1990. <br /> <br />Since the base estimates were developed using 1990 figures, <br />a 4% annual inflation rate was added to project the expected <br />costs of construction in future years. Recent discussions <br />with the local Federal Reserve Bank office, have set their <br />estimated inflation projections at 4-5% for the ne~:t few <br />years. <br /> <br /> <br />