2015-04-02_GENERAL DOCUMENTS - C1981028

Home Browse Search

areas, should those areas fail (Rule 3.03.1(3)(a) and 3.01.3(3)(d)). Below is a table summarizing how the Division estimated the amount of liability that is eligible to be released for the SL7 bond release parcels: Table 1: Keenesburg Strip Mine; SL7, Releasable Liability Amount Summary Table Task Description Hours Cost A02 Backfill B -Pit Parcels; 30, 31 and 32 147.58 $321,794.07 E01 Topsoil Parcels 30, 31 and 32 55.29 $120,868.00 FO1 Seed 27.1 acres (Parcel 30, 31, 32) 27.1 $17,123.95 Total Direct Cost Total 229.97 $459,786.02 Overhead and Profit Liability Insurance 2.02% of Direct Cost 2.02% $9,287.68 Performance Bond 1.05% of Direct Cost 1.05% $4,827.75 Job Superintendent cost/hour time 50% of total task hours; $65.41/hr 115 $7,521.17 Profit 10% of Direct Cost 10% $45,978.60 TOTAL $67,615.20 Legal - Engineering - Project Management Engineering work and /or contract/bid prep; 4.25% of Contract 4.25% $22,414.55 Reclamation Management and /or Administration; 4.00% of Contract 4.00% $21,096.05 TOTAL $43,510.60 SL7 Parcels, Total Applicable Bond Amount $570,911.82 60% of Applicable Bond $342,547.09 SL7 Bond Release Request Amount $321,794.00 MT6 Liability Total $1,971,874.00 SL7 Reduction Amount $342,547.09 New Liability Amount $1,629,326.91 The last substantial reclamation cost estimate conducted for the Keenesburg Strip Mine was during the 2014 Midterm Review (MT6). The total applicable bond amount held specifically for the 27.1 -acre SL7 bond release parcels was determined based on the MT6 cost estimate. The total applicable bond amount is the total cost of backfilling, grading topsoiling and seeding the reclamation parcels. For a Phase I bond release, in accordance with Rule 3.03.1(3)(b), no more than 60% of the applicable bond amount can be released. The Division calculated that 60% of the applicable bond for the SL -7 bond release parcels is $342,547.09. Page 7 of 8