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<br /> TABLE 2 <br /> . ESTIMATED PROJECT COST <br /> OPTION 3 - RECYCLING EXISTING PAVEMENT <br /> FOLLOWED BY BITUMINOUS OVERLAY <br /> DUNLAP STREET <br /> Estimated Street Improvement Cost $ 38,200 <br /> Administration, Engineering, Fiscal (32%) $. 12.200 <br /> Estimated Thtal Project Cost $ 50,400 <br /> This CIR project would pulverize the existing surface, correct subsurface soils, add emulsion, <br /> grade and compaet the surface and place a 2" bituminous overlay. This estimated construction is <br /> based on soliciting bids for the project, as Ramsey County would not be able to include this project <br /> in their 1992 construction schedule. <br /> . <br /> Based on the need for an immediate improvement to Dunlap Street and the significantly higher cost <br /> of reconstruction over CIR improvements, we recommend that a CIR project be constructed at this <br /> time as the most reasonable rehabilitation alternative. <br /> METHODS QE FINANCING <br /> The feasibility study was initiated by the City Council as a result of concerns raised by property <br /> - <br /> owners and businesses along Dunlap Street. The City's Assessment Manual outlines a method of <br /> partially assessing commercially or industrially zoned properties for cold in-place recycling <br /> projects. This assessment rate, set by City Council resolution, is based on assessing 50% of the <br /> total project cost. <br /> . <br /> 9 <br />