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ESTIMATED PROJECT COSTS Street & Storm Drain Improvements – Ramsey County Construction Cost $1,223,975.83 Street & Storm Drain Improvements – Arden Hills Construction Cost + 10% Contingency $ 503,682.25 Overhead (27%) $ 135,994.21 Total Estimated Cost $ 639,676.46 Watermain Improvements Construction Cost + 10% Contingency $ 149,438.85 Overhead (27%) $ 40,348.49 Total Estimated Cost $ 189,787.34 Total Project Cost $ 2,064,869.63 The estimated split of the cost between Ramsey County and the City is as follows: Ramsey County $1,223,975.93 City of Arden Hills $829,463.80 A portion of the City cost is proposed to be assessed to the Land O’ Lakes and Boston Scientific properties. The assessment method laid out in the Feasibility Report has 100% of the cost of the traffic signal evenly split between the two properties, with the turn lanes associated with the Land O’ Lakes project being assessed to them as well per their development agreement with the City. Staff anticipates further discussions between and among the parties to revise and reach agreement on the final cost share allocation for the traffic signal costs, which will result in some change to the following table regarding the proposed special assessment amounts, but currently the proposed financing for the City’s share of the project is as follows: Funding Source Amount Water Utility Fund $189,787.34 Special Assessments - Boston Scientific $188,375.00 - Land O’ Lakes $451,301.46 The purpose of the Public Hearing is to approve plans and specifications prepared by Ramsey County and to order the improvements as required by Minnesota Statutes Chapter 429 for projects that include special assessments. Attachments Attachment A: Feasibility Report – County Road F Reconstruction Attachment B: Resolution 2018-011 Ordering the Improvement