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<br /> . <br /> . Bids were taken on April 6, 1993. Low bidder is T. A. <br /> Schifsky & Sons, Inc. Work will include bituminous <br /> overlay and seal coat improvements. <br /> . Based on low bid, the total project cost, including <br /> overhead, is $257,568.20. Of this amount, $136,878.20 <br /> will be funded by the City and $120,690.00 will be <br /> assessed to the abutting/benefitting property owners. <br /> . . Assessment rate for residential homes is $2.98 per adjusted <br /> front foot and $63.78 per unit for townhomes in the Arden <br /> View Drive/Court area. <br /> . Calculation for adjusted front footage for all abutting <br /> properties is based on the City's Assessment Manual, <br /> adopted in November 1990. <br /> . Assessments shall be paid over a three year period if the <br /> total assessment is less than $500 and over a five year <br /> period if more than $500. The interest rate is 8.00%. <br /> . Prepayment, without interest, is available for 30 days. <br /> 039-1002.rnay <br />