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RYAN INDUSTRIAL PARK IMPROVEMENTS <br />LITTLE CANADA, MINNESOTA <br />Our File No. 37209 <br />ASSESSMENT HEARING <br />Cost Summary: <br />Total Project Cost <br />Assessed Amount <br />Art Ryan Cost <br />City Cost <br />Public Hearing <br />$228,574.00 <br />$137,144.40 <br />$45,714.80 <br />$45,714.80 <br />Project Costs: <br />Construction Cost $162,000 <br />Engineering and Testing <br />Legal <br />Fiscal <br />Publish., Admin. and Assess <br />Construction Interest (5 %) <br />Subtotal <br />$30,837 <br />$19,207 <br />$2,929 <br />. Fee $9,720 <br />$1,290 <br />$63,983 <br />Total Project Cost $225,983 <br />Final Costs <br />$225,983.00 <br />$138,261.40 <br />$43,110.80 <br />$44,610.80 <br />Cost Distribution: <br />1). Entire fiscal cost of $2929 assessed to property <br />owners. <br />2). Ditch Cleaning cost of $7500 assessed as follows: <br />80% to property owners <br />20% to City <br />0% to Art Ryan <br />3). All other costs assessed as follows: <br />60% to property owners <br />20% to City <br />20% to Art Ryan <br />Assessment Rate: <br />Note: 50% of assessed cost are assessed on a front foot <br />basis. The other 50% of assessed costs are <br />assessed on an area basis. <br />Front Foot Basis: $69,130.70/5441.25 L.F.= $12.70493/L.F. <br />Area Basis: $69,130.70/1,129,989 S.F. = $0.0611782/S.F. <br />Page 11 <br />