Re: Temporary Housing Budget

Last week Doug sent design information on the temporary house to Maguire simultaneously requesting pricing from the vendor to be completed when Doug returned. Dan informed us that you wished to accelerate the pricing effort. We are pleased to do so. Accordingly, Charles, Bill and I reviewed the design information generated by Doug. Bill and I met with the supplier locally and negotiated with the vendor’s home office on Friday and over the weekend. Based upon independent estimates performed by Bill and Charles we are submitting the following budget price for the layout of the four units shown on the rough drawing prepared by Doug which is attached to this note:

• Base Budget Price: $882,338, delivered, erected and finished by Vendor with assistance from Lafayette at the site as follows:
• Includes:
• All structural engineering (by Vendor)
• All site work and slab
• All utilities and wastewater treatment at the site
• Complete Shell with connecting porches including, for all materials and tool: all transportation, clearing, customs, and taxes to LSJ
• Allowance for exterior Doors and Windows of $29,000
• Allowance for electrical, mechanical and finishes of $421,600
• Excludes:
• Transportation of vendor personnel between St. Thomas and LSJ during erection
• Utilities to site, i.e. from RO/Generator to Flagpole area (now being priced separately as part of the overall infrastructure program)
• Cost of use and operation of LSJ equipment for excavation and lifting of components
• Landscaping
• Hardscaping
• Items which could be selected and added to the price
• Cistern $47,850
• Contingency of 10% or $88,234

This budget is based upon our understanding of information provided by Doug, the scope of which may change in further discussions which you may have with him when he returns

Lafayette Contractors LLC

6100 Red Hook Quarter, Suite A2-7

St. Thomas, VI 00802

Tel: 340 779-8054

Fax:340 779-8055

Cell:340 690-7194