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Utility Fund. The extension of watermain consists of connecting to the existing system at Main <br />Street and extending the 16 -inch pipe through the first phase. Individual service stubs would <br />extend to the property line of each business area. <br />The proposed sanitary sewer system improvements have an estimated project cost of $46,000. <br />Sanitary improvements will be paid by assessing the costs to each of the two benefitting <br />property owners. The estimated assessment for sanitary sewer improvements is $23,000 per <br />property. The extension of sanitary sewer consists of connecting to the existing system at Main <br />Street and extending an 8 -inch pipe through the first phase. Individual service stubs would <br />extend to the property line of each business area. <br />The street and storm sewer extension has an estimated project cost of $771,000. Street <br />improvements will be paid by assessing the costs to each of the two benefitting property <br />owners. The estimated assessment for street and storm sewer improvements is $385,500 per <br />property. The extension of the street consists of connecting to the existing intersection at Main <br />Street and extending a five -lane road through the first phase. <br />The Project is necessary for development, is cost - effective, and feasible; and will result in a <br />benefit to the properties proposed to be assessed. <br />Page 2 14817.004 <br />