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� MR. PETER S. P4POVICH, City Hond Consultant: "The total estimated cost of this project ia $867,700. Depeading on • �hether the property is residential, commercial, or acreage. obviously, the Einancing would have to co� bp that use. Zn accordance with a resolutioa the Council passed some year,s ago - fn 1971 - the frontaqe assessment for residentiaZ property was pegqed at $7.50 a front foot, aad if the ccst rata over than, it wovid be 70% of that portion of the cost that would run over that particular � ount of money." � � "The same is true with Co�qnercial pzoperty. That wae $11 a foot plus 7696 if the cost ran over, so taking and apply- ing �sat has been used in the past, the reaidential property works out at $18.20 a front foot and that raises $429,000, or approxfmately half of the total coat. The Conm�rcial property - and there•s lesa of that - will be assessed at $21.70 a front foot. That will ra3se $190,000. The acreage will be assessed at $420 per acre foz the benefit received. That will raise $83,000, and then there a�e services from the street to the property line and that'e pegqed at $145 per service, Mihich will raise another $16,OOb. That will total out appxoxixaately $718,fl00 plus dollars. Substractinq that £rom the $867,700 leaves a balance of $148,761 to be financed. Because in the past when there was anything exceas to be fin- anced, it was apread over general taxes, it's proposed this be spread over general taxes. This wil7. be apread over a 2� yesr period of time, together with the assesaments, and obv3ously, all of the tax base in the city will help pay it. If you divide that $148,000 at 6% that will u�rk out to $12,000 a year on general taxes spread over the entire city. The balance wi11 be, as I indicated, accordinq to the assessment formula, spread over a 2Q year period of time, aad you would have the right to prepay at any year after the assessments have been adopted, w£thout any interest pena2ty. If you don't pay in this psrti- cular year, it will be sent to the County, and be collected each year alonq with your real estate taxes." ' MAYOlt CRSPEAU: "Any questions?" • MR. BiLL REEVES, 1660 We�t FIiqhway 96: Asked how much the Arsenal property wou2d pay toward the improvemettt. Mr. Christoffersen said he had not considered assesainq Arsenal property because most of it is served by their o��m internal �acilities. Mr. Fopovich explained that the Arsenal is Federal �