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Feasibility Report <br />2024 / 2025 Street Reconstruction and Municipal Sewer and Water Extension Project Pine Haven City of Lino Lakes, MN WSB Project No. 023620-000 Page 5 4.3.2 Water Service Twelve-inch diameter DIP watermain will be extended northeast along Lake Drive and east along 81st Street. The watermain along Lake Drive and 81st Street is trunk watermain and will serve <br />additional properties in the future. An 8-inch diameter DIP municipal water will be extended south along Danube Street and Elbe <br />Street to serve the Pine Haven neighborhood, as shown in Appendix A. The City will terminate <br />the watermain at the cul-de-sac for Danube Street and at the south end of Elbe Street. Fire <br />hydrants will be installed per City specifications. One inch diameter copper services would be <br />extended to the property lines. 5. Financing 5.1 Opinion of Probable Cost A detailed opinion of probable cost is included in Appendix B of this report. The opinion of probable cost <br />is based on projected construction costs for 2024 through 2025 and includes a 10% construction <br />contingency and 20% indirect costs. The indirect costs include engineering, legal, and administrative <br />costs associated with the project. The project costs are summarized as follows: 2024 / 2025 Street and Utility <br />Improvement Project Opinion of <br />Probable Cost Breakout Probable Cost Street and Storm $1,767,338 <br />Sanitary Sewer $754,692 <br />Watermain $814,163 <br />Total Project $3,336,193 5.2 Funding The street and storm water infrastructure improvements are proposed to be funded by the issuance of <br />Street Reconstruction Bonds, repaid by a property tax levy. There are no proposed assessments <br />associated with the roadway and drainage improvements. Funding of the extension of municipal watermain and sanitary sewer improvements is proposed to be <br />provided by the City’s Area & Unit Trunk Fund and special assessments. 2024 / 2025 Street and Utility Improvement Project Funding Overview Breakout Street Reconstruction Bond Area & Unit <br />Trunk Fund Assessment Total <br />Street and Storm $1,767,338 $1,767,338 Sanitary Sewer $538,692 $216,000 $754,692 Watermain $550,163 $264,000 $814,163 Totals $1,767,338 $1,088,855 $480,000 $3,336,193 DRAFT277