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break in the hill somewhere in this location much of the water will be draining northerly to be piCked up by these two small basins where it does have a short easy way south of there (inaudible) for this short portion of Aglen down to Ruggles. It would continue to flow overland, and that would be where the construction would end as per this alternate. All of the easements that are necessary for this improve- ment and roadway access have been acquired except for one small portion. I believe it's that lot. That would be a minor expense to the project, we anticipate if all of the improvement were done. The fiscal agent will go through some of the numbers involved, and the cost, to bring everyone up to date in the city's procedures. Normally speaking, side lots, such as this one, are only assessed lO~ of their side lot frontage as far as assessable frontage is concerned, so those of you on side lot locations that are abutting the improvement being considered, may keep this in mind as you deliberate whether you're in favor or opposed to the improvement. Thank you. MAYOR DEMOS~ At this time I will ask Mr. Popovich to present a summary of financing and assessments. r~. POPOVICH: The original published cost of the overall larger improvement was $l09,607.00. Subsequent to that, in doing re-checking, the cost for Alternate 1 which was originally assumed to be higher, is $79,858.00. There is front footage of 2300 front feet. If it were lOO% assessed, it would be $34.4l a front foot. If we go to the 25% recommendation of the Public Works Department it's $8.60 that would be assessed per front foot against each lot. That would raise $19,960.60, and general taxes would have to take up the rest, which would be $59,897.00 to arrive at $79,858.50. That's the larger improvement. If you go to Alternate 2 which is the SMaller area, the total cost is $60,519.00, or $19,000.00 less. There are 2,026 assessable feet. Based on lOO% assessments, it would be $29.87 a foot instead of $34.41, and assessed at 25%, it would be $7.47 a front foot. That would raise $l5,l34.00 by special assessments, and the balance of $45,385.00 by general taxes to arrive at the total of $60,5l9.00 for Alternate 2. This doesn't take into consideration the other aspect of the storm sewer project if you were to go to Alternate l. Then you'd have to get the feasibility report and have a hearing on that and consolidate the improvements. But you have the information for Alternate 1 or 2. Under either one, depending on what the reaction is from the people affected,if the project moves ahead we would assess over 20 years with an 8% carrying charge with the right of prepayment at any time