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Changes since 2012 Estimate –OHB Levee <br />2012 Estimate -$64M 2016 Estimate -$126M <br />Primary Reasons: Keep Oxbow viable and protect the Kindred School District tax base <br />Land Increased $50M <br />Residential increased from $21M to $42M <br />Home reconstruction costs higher than initially estimated –2012 estimate based on 130% of assessed value plus $11,000 for relocation <br />Higher home construction costs due to regional market conditions <br />High percentage (over 80%) of homes rebuilt <br />Housing of last resort requirements <br />Agricultural lands increased from $2M to $10M <br />Business relocation increased from $10M to $28M <br />Construction Increased by $10M <br />Storm water ponds and pump station increased from $6M to $10M <br />Levee increased from $6M to $8M <br />Utility relocations increased to $4M17