Depending on the amount of work done locally to reduce costs, a full feasibility study with all required components could cost anywhere from $30,000 to $75,000.
The not-to-exceed quote given by BJM Consulting to We Are Perdido is $40,000. The study is completed in three consecutive phases before being assembled into a final report. Phase One is not to exceed $10,000 and includes an initial report on financial feasibility. Phase Two is not to exceed $17,000 for a complete SWOT (strengths, weaknesses, opportunities, and threats) analysis, including analysis of public records and interviews with private citizens and government officials. Phase Three is not to exceed $13,000 for the completion of the report and a 5-year projected budget, and presentation of the report to the community.
Additionally, a surveyor must provide a legal description of the proposed boundaries in the charter, which may cost around $15,000. The municipal charter can be either drafted by a municipal attorney with citizen input or drafted by citizens and reviewed by the attorney for completeness, which may cost $20,000.