Section

Provide the estimated cost of your project. In your estimate, include materials, value of paid or volunteer labor, and equipment.

Definition(s):

·         Fair Market Value: The fair market value is the open market bid price for doing the work, using the equipment and facilities, and purchasing the goods, services, and materials necessary to accomplish the project. This would normally include the cost of hiring a contractor to do the work from start to finish, including the cost of labor, materials, equipment and facility usage, transportation and contractor overhead, and profit. The fair market value should include the fair market value of any donated, contributed, or found labor, equipment, or materials. (Definition from Washington Administrative Code WAC 173-27-030 (8), http://apps.leg.wa.gov/WAC/default.aspx?cite=173-27-030).