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E. Developers are required to post a completion bond for the estimated <br />instaliation costs (plus a safety m�,rgin of up to 50 per cent} of sewer, <br />water, etc. These bonds cost $15. 00 per $1, 000 of improvements. <br />In addition, collateral must be deposited representing 50 to 100 per <br />cenx of the total coet of i�nprovements. If the builder does not have <br />money fo� the collateral, he would have to borrow it. The cost on <br />$1, 2Q0 worth of improvements would be $18. 00 for the bond and the <br />losa of interest on the collateral would be $72. 00 a year at minimum. <br />Total cost is $90.00-$150.00. <br />F. 5ome cornmunities require a deposit for the installation of sodded <br />boulevards , shade trees , atreet signs , etc . T�is depos2t r. emoves <br />more money fr�m circulation with a cost of aboat $6. 00 per lot <br />+`' --ough loss of interest. <br />The above costs have been incurred by the developer be£ore construction <br />can begin. Assuming a minimum lot size of 15, 000 square feet and 100 <br />foot frontage, tihe following average costs per lot in a subdi�rision laid out <br />in curvilinear streets would result: <br />Costs Per Lot <br />Raw Land <br />3 years interest at 6 per cent on inve5tment <br />in land compounded annually <br />2 years taxes on raw land <br />1 year taxes on platted lot <br />Topographical map <br />Boundary survey <br />Preliminary plat layout <br />Final plat and engineering survey <br />Corrections and additions to final plat <br />Bond and interest on collater�.l <br />Interest on cieposit for sodding, trees, etc. <br />Development of the Site <br />$ ?50. 00 <br />14�. 00 <br />14. 00 <br />10. 00 <br />4. 00 <br />1.00 <br />20. 00 <br />45. 00 <br />10. 00 <br />i2o.00 <br />6. 00 <br />1, 12 . 00 <br />The next stage of development after receiving approval of the final plat <br />by the village councii is the actual physical work involved in preparation <br />of the site for home building. For ihe gurpoee of figuring costs, the <br />land is assumed to be rolling topography without any abnormal soil con- <br />ditions such as peat or heavy clay. <br />A. R,ough grading of streets and building sites will cost about $480. 00 <br />per lot in a fairly good size subdivision. In areas of steep slopes , <br />the cost would rise quickly. If there are large trees on the lot, <br />another $50. 00 for removal of the trees would be added to the costs. <br />Preservation of trees could.cost even more. <br />� <br />� <br />