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Prepared by: Bolton & Menk, Inc. Financing Twin Lake Boulevard ǀ 0N1.125376 Page 10 FINANCING SPECIAL ASSESSMENTS – LITTLE CANADA In accordance with its assessment policy, the City of Little Canada will be assessing the properties for roadway improvements within the City’s jurisdictional limits. The Assessable Parcels Map in Appendix C depicts the properties that will be assessed based on the City of Little Canada’s assessment policy. Street: Consistent with the special assessment policy, 50% of the street rehabilitation costs are proposed to be assessed to the benefiting properties. Remaining street costs will be funded using a combination of the City’s Municipal State Aid funds and the City’s Infrastructure Capital Improvement Fund. Residential properties along the roadway are proposed to be assessed on a per unit basis. Non- residential properties are proposed to be assessed at twice the rate of single-family residential properties. The estimated assessment rates are as follows: • Residential Assessment $1,091.45 Per Unit • Non-Residential Assessment $119.54 Per Front Foot The special assessment policy includes special provisions for corner lots, lots that have already been assessed, oversized lots, and minimum/maximum front footages; notes and adjustments for these parcels are listed in the Assessment Roll in Appendix C. As such, the total assessable front footage or unit count for each property is multiplied by the assessment rate. Water, Sewer, and Storm: This project includes only minor water, sanitary, and storm sewer repairs. As such, in accordance with the City of Little Canada’s Special Assessment Policy, water, sanitary, and storm sewer improvements will not be assessed. The City’s share of these improvements will be funded by the City’s Infrastructure Capital Improvement Fund. Trail: The trail improvements proposed with this project will not be assessed. The City’s share of these improvements will be funded by a Ramsey County Community Development Block Grant (CDBG). FINANCING SUMMARY – LITTLE CANADA The financing summaries for the City of Little Canada are shown below are based on a reclamation and pave project for the project area. Table 3: Little Canada Financing Summary Item Estimated Little Canada Cost MSA Account Infrastructure Capital Improvement Fund Special Assessments CDBG Grant Street $667,033 $333,517 $95,991 $237,526 $0 Sanitary Sewer $20,079 $0 $20,079 $0 $0 Water Main $36,570 $0 $36,570 $0 $0 Storm Sewer $63,342 $63,342 $0 $0 $0 Trail $400,996 $0 $0 $0 $400,996 Total $1,188,020 $396,859 $152,640 $237,526 $400,996 *Includes total estimated costs and financing for the City of Little Canada only.