Imagine you work in the office of "Big Builders" and Bob asks you to work on the Mount Hope Project. Prepare a professional memo for him stating the costs for the items listed below as well as the total project cost for the shopping facility in Mount Hope in the correct year. Use the information provided in the text you have read before and the additional information given below. You know that Big Builders has developed an essentially similar shopping facility in Splash Springs in 2000. You obtained the company's records from Bob and found that the actual costs for this shopping center were: 1 Land $ 2,652,000 2 Site development $ 1,080,000 3 Utilities (Water and Sewer) $ 321,000 4 Electrical reticulation $ 68,000 5 Shopping facility (69,500 SF) $ 3,929,000 6 Parking lot (300 spaces) $ 489,000 7 Landscaping 8 Various Fees Total project cost $ 70,000 $ 1,119,000 $9,728,000 The following construction cost indices were researched and will help determine the adjustment in price due to the difference in time and location of the two projects: Year 2000 2010 Splash Springs 0.95 1.84 Consider the following facts: Claire was able to purchase the land for $2,945,000 Construction is expected to start in 2012 Mount Hope 0.83 1.69 Assume a linear relationship of the costs based on the area of the floor plan. The site selected will allow for 600 parking spaces and the cost of the parking lot is proportional to the number of parking spaces.