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�iseal 3.0% <br />�nterest During Const�-uction 4.5% <br />Assessment �ZoII �'reparatian 1.0°/a <br />Contingencies 4.0% <br />TOTAL 3 7.0% <br />The City�s portion of the pra�ect eos�s are currently budgeted from the PIR and Uti�ity <br />Enterprise Funds (sanitary sewer, surface wa�er managemen� ancl waterr�a�n funds}. <br />Vale��ine Aven�e is a S�ate Aid street, whle� is eligible for use of State Aid funds. A <br />prapased project funding summ�.ry is Iisted in the table belovv. Raadway costs include a <br />37°/o overheac�; u�i�ity costs Include 30% overhead. <br />Sanitary Surface <br />Sewer water�main Water PIR State Aid qssessments Toial Cost <br />Fu�oi Fund Managemer�f Fund Fund�ng <br />Funal <br />Street <br />Improvements $142,620 $231,166 $373,786 $747,572 <br />Starm <br />Drainage $'124,466 $72,744 $197,210 <br />[rnpravements <br />Watermain <br />Improvements $'� 22,483 $122,483 <br />Sanftary Sewer �68,,��� <br />Irnprovements �681 ��s <br />Total $68,159 $122,483 $124,466 $142,620 $303,910 $373, 786 $�,135,423 <br />Amount funded by the �ity $ 457,727 <br />�mount funded by State Aid $ 303,9� 0 <br />Amount received from assessments $ 373,786 <br />Tatal Pro�ect Costs $ 1,135,423 <br />Assessments <br />As detailed in the feasibili�y report, two prel�m�nary assessment rates have been <br />established, for reconstructian and for mill and overlay. The table be�ow �ists the <br />estirnated assess�nent rate per residential equivalent units (REt7}. <br />Type of �mprovement I�1�zmber of REtJs Es�imated Assessmen� Rate <br />Reeonstruction 31 $8,833 <br />MiII and averlay 44 $2,272 <br />Ci�y Council Mee�ing <br />\�1Vletro-inet.us\ardenhills�PR&PW�Engineering\Council_Actions\20 t 4\I -� I -I QMemo_2010PMP_OrderPlansSpecs.doc <br />Page 3 of 4 <br />