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THUNDER BAY DRAINAGE
<br />IMPROVEMENT NO. 89 -14
<br />Ditches A -C Ditch D Total
<br />Construction Contract 66,920 21,735 88,655
<br />Contingency (5 %) 3,345 1,085 4,430
<br />Engineering 15,475 5,025 20,500
<br />Legal (5% Actual) 1,455 345 1,800
<br />Administration Fee (2.5 %) 1,795 425 2,220
<br />Assessment (1 %) 700 230 930
<br />Total $89,690 $28,845 $118,535
<br />Ditches A -C
<br />50/50 Basis $89,690 X 50% = $44,845
<br />City Share = $44,845
<br />Assessable = $44,845 4. 72 lots = 622.85/lot
<br />Note $622.85 X 72 = $44,845.20
<br />Ditch D
<br />Greenbrier lots = 1/2 of Ditch A -C rate given the fact their
<br />drainage goes to two ditches. (Greenbrier and Ditch D)
<br />1/2 X $606.02 = $303.01 X 4 lots = $1,212.04
<br />Total ditch cost = $28,845 - $1,212.04 (Greenbrier assessment) =
<br />$27,632.96
<br />Contract Adjustment Factor = $118,535 _ $88,655 = 1.337
<br />City Costs pursuant to contract line items = 5,570 X 1.337 =
<br />7447.09
<br />Ditch Total
<br />Less Greenbrier Assessment
<br />City Project Costs
<br /># of Lots
<br />$28,845.00
<br />- 1,212.04
<br />- 7,447.09
<br />20,185.87
<br />• 5
<br />$ 4,037.17 per lot
<br />Lots 1 through 5, Block 2
<br />1 2 3 & 5 4*
<br />Gross Assessment 4,037.17 4,037.17 4,037.17 4,037.17
<br />Less: Project Credit 606.01 606.01 606.01 - 606.01
<br />Culvert Credit -0- -0- 1,100.00 1,100.00
<br />Easement Credit 1,523.19 1,178.00 1,178.00 -0-
<br />1,907.97 2,253.16 1,153.16 2,331.16
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