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Mr. Jim March <br /> February 5, 1997 <br /> Page Three <br /> Option 3 - Peltier Lake Drive Watermain Extension <br /> Option 3 consists of connecting to the existing watermain at Mill Road and Peltier Lake <br /> Drive. For determining the cost associated with Option 3, we assumed the watermain <br /> will be extended north on Centerville Road from the Lakeland Hills plat boundary, and <br /> then east along Peltier Lake Drive, as shown on the attached sketch. The watermain will <br /> be constructed ten feet inside the right -of -way line, approximately five feet from the edge <br /> of the street. For conservative estimating purposes, we have estimated the street is <br /> removed to the centerline. <br /> In order to serve homes on the opposite side of the street, the watermain services will be <br /> bored under the street. The estimated construction costs for this option are listed below: <br /> Watermain $ 87,000.00 <br /> Street Restoration 70,000.00 <br /> Landscaping (sod only) 12.000.00 <br /> Total Construction Estimate $169,000.00 <br /> Assessments <br /> Some of the costs for Option 3 could be recovered by assessing the benefitting property <br /> owners and a credit from the developer. The developer of Lakeland Hills has tentatively <br /> indicated he would be willing to contribute a credit toward the Peltier Lake Drive <br /> watermain extension option equal to the value of the creek crossing. Based on the cost <br /> estimates listed in Options 1 and 2 above, this credit could be around $35,000, not <br /> including overhead. Adding an overhead cost to the estimate would increase the credit <br /> from the developer. <br /> For estimating the total assessment revenue, the assessment to each property owner is <br /> based on the assessments from the 1996 watermain projects in Centerville with a 3.6% <br /> increase. The new 1997 assessment is then $1,704.13. This 3.6% increase is based on <br /> the 1996 ENR cost index for construction projects. There are 30 benefitting property <br /> owners in the Peltier Lake development that would be provided water service. Water <br /> service is not proposed to two residents at the north end of Peltier Circle and five <br /> residents along the Clearwater Drive cul -de -sac. <br /> The total revenue generated from the assessments is $51,125. The costs associated with <br /> the Peltier Lake Drive Watermain Extension are summarized in the following table. <br /> 260/090- 0406.feb <br />