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Feasibility Report Pavement Management Program 2018 Street and Utility Improvement Project City of Arden Hills Project No. 18-STR-065 WSB Project No. R-010111-000 Page 9 3. FINANCING 3.1 Opinion of Cost A detailed opinion of probable cost is included in Appendix B of this report. The opinion of probable cost is based on projected construction costs for 2018 and includes a 10% contingency and 27% indirect costs. The indirect costs include engineering, legal, and administrative costs associated with the project. The project costs are summarized as follows: Table 3 – 2018 Street and Utility Improvement Project Summary of Project Costs Improvement Estimated Reclamation Area Cost Estimated Reconstruction Area Cost Street Improvements $219,295.47 $1,503,996.72 Sanitary Sewer Improvements - $270,724.63 Water Main Improvements - $751,124.99 Storm Sewer and Drainage Improvements $25,844.50 $530,206.20 Total Estimated Project Cost by Area $245,139.97 $3,056,052.54 GRAND TOTAL $3,301,192.51 3.2 Funding Funding for the project will be provided through assessments to benefiting properties, sanitary sewer funds, water main funds, and other City funds. The City will pursue grant funding opportunities, if available, including the latest MCES I/I grant cycle. The proposed funding is outlined as follows: Table 4 – 2018 Street and Utility Improvement Project Funding Summary Funding Source Amount for Reclamation Area Amount for Reconstruction Area Residential Assessments $109,647.73 $751,998.36 PIR Fund $109,647.74 $751,998.36 Sanitary Sewer Utility Fund - $270,724.63 Water Main Utility Fund - $751,124.99 Surface Water Management Fund $25,844.50 $530,206.20 Total by Area $245,139.97 $3,056,052.54 GRAND TOTAL $3,301,192.51