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shall be set by the City Council. For the purposes of determining this rate, staff has converted <br /> Tax-exempt Equivalent Units (TEU)to Residential Equivalent Units (REU) as described below. <br /> Johanna Marsh is a City-owned parcel that has front footage on Ridgewood Road, City staff is <br /> proposing that this parcel be considered for zero (0) REUs, since this parcel is predominantly <br /> wetland and is unbuildable. <br /> Preliminary Assessment Rate <br /> Based on 48 REU, and the estimated street improvement costs, the estimated assessment rate per <br /> REU is $8,939.03 for Alternative 1, Reconstruction and $4,445.77 for Alternative 2 <br /> Reclamation. <br /> Funding Sources <br /> Based on the cost estimates discussed above and the projected residential assessment for the two <br /> alternatives the project funding would be as shown in the following tables: <br /> Alternative 1 —Reconstruction <br /> Funding Source Cost <br /> Residential Assessments $ 427,719 <br /> PIR Fund $ 430,429 <br /> Sanitary Sewer Enterprise Fund $ 62,075 <br /> Watermain Enterprise Fund $ 357,207 <br /> Surface Water Management <br /> Fund $ 393,756 <br /> Total Funding $1,671,186 <br /> Alternative 2 - Reclamation <br /> Funding Source Cost <br /> Residential Assessments $ 212,042 <br /> PIR Fund $ 214,752 <br /> Sanitary Sewer Enterprise <br /> Fund $ 62,075 <br /> Watermain Enterprise Fund $ 357,207 <br /> Surface Water Management <br /> Fund $ 319,602 <br /> Total Funding $1,165,678 <br /> 16 <br />