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- 7 - X. ESTIMATED PROJECT COSTS The estimated costs for each street have been prepared and include all anticipated utility improvement costs that will be associated with the street rehabilitation. These costs do include replacement of all driveway curb. A detailed cost estimate for each street improvement is shown in Appendix B and includes the construction costs and total project costs including overhead and contingency. Table 1 lists the estimated total project cost for each street, including contingency and overhead. The overhead costs for the project are estimated at 25 percent. The overhead costs include funds for administration, legal, fiscal, engineering, preparation of plans and specifications, and field surveying and inspection. A contingency amount of ten percent has been added to the estimate to address possible unforeseen conditions on the project that may be identified during plan preparation. Table 1 Total Project Costs Aspen Circle $ 193,000.00 Demont Avenue $ 190,400.00 Morrison Avenue $ 195,000.00 TOTAL COST $ 578,400.00 XI. FINANCING A. STREET REHABILITATION Based on the City Assessment Policy that governs street rehabilitation, the primary method of financing street improvements is to assess the adjacent property owners on a front foot basis. Street Rehabilitation Assessments The policy states that the rehabilitation of an urban street shall be assessed 50% to the affected properties, including any costs associated with installation of concrete curb and gutter. This policy has worked well in the past, but staff is recommending a modification to the standard policy for these streets due to the driveway curb replacement. It is proposed to give property owners the choice of replacement of their driveway entrance curb and all driveway entrances are not the same size. As such, staff is recommending a unit assessment to each property to cover 50% of the standard assessable street rehabilitation costs and an additional driveway curb replacement assessment be added to those properties that choose to have their driveway entrance curb replaced. The additional assessment would be based on 50% of the cost of their specific driveway curb replacement. The cost for sanitary sewer, storm sewer, or watermain repair is not assessed to the adjacent property owners. As has been done in the past, the cost of any driveway work would be the responsibility of each property owner outside of the assessment cost.