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Page 2 of 2 <br /> <br />start of bidding. Selected plan sheets illustrating the project improvements are provided in <br />Attachment B. <br /> <br />Budget Impact <br /> <br />The estimated total project cost and funding sources based on the final plans and specifications are <br />summarized below. <br /> <br />Total Estimated Expenses <br />Construction: $ 538,607 <br />Engineering Design: $ 33,400 <br />Construction Mgmt: $ 26,300 <br />Gen Admin & Legal: $ 15,000 <br />Material Testing: $ 10,000 <br />TOTAL ESTIMATE: $ 623,307 <br /> <br />Proposed project funding sources are a combination of the City’s Permanent Improvement Revolving <br />(PIR) fund, utility funds, and special assessments for street improvements summarized in the <br />following table: <br /> <br />Total Estimated Funding <br />PIR Fund: $ 329,944 <br />Special Assessments: $ 245,243 <br />Water Utility: $ 2,450 <br />Sanitary Sewer Utility: $ 9,750 <br />Surface Water Utility $ 35,920 <br />TOTAL FUNDING: $ 623,307 <br /> <br />The amounts listed above are estimates based on the current opinion of probable construction costs. <br />Final total expenses and funding amounts will be revised and presented to the City Council upon <br />receipt of construction bids. <br /> <br />The total estimated cost of the recommended improvements is $623,307. A portion of this project is <br />proposed to be assessed to the benefiting property owners and the remainder through other funding <br />sources. In accordance with the City’s Assessment policy, the preliminary assessment for the <br />recommended improvement is calculated at $6,131.10 per unit. As the project is competitively bid, the <br />calculated assessment amount will be updated leading up to the adoption of the assessment roll. <br /> <br />Attachments <br />Attachment A: Resolution 2022-006 <br />Attachment B: Project Plan Sheets