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<br />2007 PMP <br />4/4/2007 <br />Page 3 <br /> <br />Commercial Assessments (Connellv Avenue) <br />At the public hearing, staff indicated a change in the scope of the project with the necessary <br />addition of watermain replacement. Staff provided an estimated assessment rate based on mill <br />and overlay costs only; the additional street improvement costs were added to the watermain <br />costs. Council requested information on what the assessment rate would be if all street costs were <br />included in calculating the assessments. The two rates are as follows: <br /> <br />Rate based on mill and overlay costs only: <br />Rate based on all street costs: <br /> <br />$ 7,680.52/unit <br />$1O,804.97/unit* <br /> <br /> <br />The table below provides a summary of assessment rates as presented in the feasibility report. <br /> <br /> Assessment rate per Total received in Total funded by the <br /> unit assessments City <br />2"Mill $ 2,061.52 $ 72,153.20 $ 72,153,20 <br />Full Depth <br />Mill $ 3,068.30 $ 196,370.97 $ 227,053.93 <br />Commercial $ 7,680,52 $ 61,444.15 $ 26,333.21 <br />Watermain N/A $ 154,965.50 <br />Storm Sewer N/A $ 10,991.01 <br />Sanitary <br />Sewer N/A $ 6,328.45 <br />Total $ 329,968.32 $ 497,825.30 <br /> <br />The table below shows the rate based on all street costs being included in the assessment rate for <br />the commercial area. The total project amount varies slightly from the table above based on <br />different overhead costs factored into street costs and utility costs. <br /> <br /> Assessment rate per Total received in Total funded by the <br /> unit assessments City <br />2"Mill $ 2,061.52 $ 72,153.20 $ 72,153.20 <br />Full Depth <br />Mill $ 3,068.30 $ 196,370.97 $ 227,053.93 <br />Commercial* $ 10,804.97 $ 86,439.74 $ 37,045.60 <br />Watermain N/A $ 123,856.28 <br />Storm Sewer N/A $ 10,991.01 <br />Sanitary <br />Sewer N/A $ 6,328.45 <br />Total $ 354,963.91 $ 477,428.47 <br />