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COST ALLOCATION <br /> • <br /> ( % of total area population + % of population over 55 divided by 2) <br /> (18.01% / 12,541) (13.78% / 1 ,633) <br /> Annual Operating Costs <br /> Fridley 42.424% 179,581 <br /> New Brighton 33.106 140,138 <br /> MOUNDS VIEW 15.900 67,305 <br /> Spring Lake Park 8.570 36,301 <br /> Construction Costs <br /> To be paid for by: <br /> Fridley 60% <br /> New Brighton 40% <br /> They will receive credit for their financing based on the rate of 7% <br /> over 20 years in their annual cost allocation for the "up-front" <br /> construction funding. <br /> Example: <br /> New Brighton operating costs = $140,138 <br /> Annual Credit = $75,000 <br /> Total Annual Contribution $65,138 <br /> (Credit = 40% of 2,000,000 = $800,000 plus 7% over <br /> 20 years = approximately $75,000) <br /> Operating Cost Property Tax Impacts <br /> City Tax Impact <br /> 80,000 Home 90,000 Home <br /> Fridley 6 7 <br /> New Brighton 5 7 <br /> Mounds View* 11 13 <br /> Spring Lake Park 9 12 <br /> *Based on Mounds View's contribution of $67,305 <br /> Construction Costs <br /> Mounds View's Share $ 318,000 <br /> Paid Annualy over 20 Years $ 17,000 - $20,000 <br /> Estimated Total Mounds View Contribution $ 84,318 - $87,000 <br />