Laserfiche WebLink
permit for work within their road right -of -ways for Aspen Circle, Ontario Road, Payne <br />Avenue, and Jessica Court. <br />X. ESTIMATED PROJECT COSTS <br />The estimated costs for each street have been prepared and include all anticipated utility <br />improvement costs that will be associated with the street reconstruction. A detailed <br />construction cost estimate for each street improvement is shown in Appendix B and <br />includes the construction costs and total project costs including overhead and <br />contingency. Table 1 lists the estimated total project cost for each street, including <br />contingency and overhead, The overhead costs for the project are estimated at 25 <br />percent. The overhead costs include funds for administration, legal, fiscal, engineering <br />design, preparation of plans and specifications, and field surveying and inspection. A <br />contingency cost of ten percent has been added to the estimate to address possible <br />unforeseen conditions for the projects. <br />XI. FINANCING <br />Dianna Lane <br />Aspen Circle <br />Ontario Road <br />Jessica Court <br />Payne Avenue <br />TOTAL COST <br />Table 1 <br />Total Project Costs <br />A. STREET RECONSTRUCTION REHABILITATION <br />Based on the City Assessment Policy that governs street reconstruction/ <br />rehabilitation, the primary method of financing street improvements is to assess <br />the adjacent property owners on a front foot basis. <br />Residential Street Reconstruction Assessments <br />The actual assessable cost of a street reconstruction to an urban section along <br />residential property is determined by calculating the assessable footage based <br />on the guidelines in the City's assessment policy and applying the capped <br />residential assessment rate per front foot. We are recommending that the City <br />Council increase the capped rate by 3% from the 2010 rate to a rate of $61.50 <br />per assessable foot for 2011. <br />Street Rehabilitation Assessments <br />The policy states that the rehabilitation of an urban street shall be assessed 50% <br />to the affected properties, including any costs associated with installation of <br />.9. <br />12 <br />708,500.00 <br />115,000.00 <br />54,500.00 <br />68,000.00 <br />312,000.00 <br />1,258,000.00 <br />