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Feasibility Report TKDA Project No. 18196.000 City of Arden Hills Page 11 Table 2: Project Cost Option 1 – Full Depth Reclamation Estimated Costs Street Improvements $ 413,197.50 Indirect Costs for Street Improvements (27%)* $ 111,563.33 Total Costs for Street Improvements $ 524,760.83 Storm Sewer Improvements $ 33,150.00 Indirect Costs for Storm Sewer Improvements (27%)* $ 8,950.50 Total Costs for Storm Sewer Improvements $ 42,100.50 Sanitary Sewer Improvements $ 9,750.00 Indirect Costs for Sanitary Sewer Improvements (27%)* $ 2,632.50 Total Cost for Sanitary Sewer Improvements $ 12,382.50 Water Improvements $ 2,450.00 Indirect Costs for Water Improvements (27%)* $ 661.50 Total Cost for Water Improvements $ 3,111.50 Total Improvement Cost $ 458,547.50 Total Indirect Costs for City (27%)* $ 123,807.83 Total Project Cost $ 582,355.33 Total project cost (rounded) – Option 1 $ 583,000.00 Option 2 – Mill and Overlay Estimated Costs Street Improvements $ 278,695.00 Indirect Costs for Street Improvements (27%)* $ 75,247.65 Total Costs for Street Improvements $ 353,942.65 Storm Sewer Improvements $ 20,400.00 Indirect Costs for Storm Sewer Improvements (27%)* $ 5,508.00 Total Costs for Storm Sewer Improvements $ 25,908.00 Sanitary Sewer Improvements $ 9,750.00 Indirect Costs for Sanitary Sewer Improvements (27%)* $ 2,632.50 Total Cost for Sanitary Sewer Improvements $ 12,382.50 Water Improvements $ 2,450.00 Indirect Costs for Water Improvements (27%)* $ 661.50 Total Cost for Water Improvements $ 3,111.50 Total Improvement Cost $ 311,295.00 Total Indirect Costs for City (27%)* $ 84,049.65 Total Project Cost $ 395,344.65 Total project cost (rounded) – Option 2 $ 396,000.00 Assessment Policy: Per the City’s Assessment Policy, benefiting properties shall be assessed 5 0% of the street improvement costs. The remaining 50% shall be paid through the Street Capital Improvement Fund. The term of the assessment is proposed to be 10 years for a reclamation and 5 years for a mill and overlay. The interest rate for the term has not yet been set and will be provided as the process moves forward. The interest rate was assumed to be 3.15% for the purpose of this report. The area proposed to be assessed is every lot, piece, and parcel within the City limits benefiting from the Arden Oaks Neighborhood improvements, with driveways abutting the roadway, within the following described areas located within Section 27-SW, Township 30N, Range 23W, as described on 2 plats: Arden Oaks and Shady Oaks Addition. Per paragraph I in the Definitions Section of the assessment policy (page 8), we do not recommend placing an assessment on the park within the Arden Oaks neighborhood. The intended use of the park appears to be for the local residents of DRAFT REPORT 7-8-2021