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' 4.6. Detour Routes <br /> The project will require significant excavation and disposal of unacceptable material <br /> from the existing street area, and a supply of significant volumes of granular base, <br /> aggregate base and bituminous pavement materials. This effort will require closing the <br /> ' roads under construction and increasing loaded truck traffic on the streets adjacent to the <br /> construction area. Adequately signed detours will be identified to direct traffic around <br /> the construction zones and notify users of the increased truck and construction activity. <br /> In order to accommodate the property owners along the excavated roads, temporary. <br /> parking on the adjacent streets may be necessary during the periods of time when vehicle <br /> access is not possible. <br /> 5. FINANCING <br /> 5.1. Opinion of Probable Construction Cost <br /> Detailed breakdowns of the Cost Opinion for the various construction areas are included <br /> in Appendix B. The opinion of cost incorporated the construction costs experienced <br /> during 2000 and 2001, and include a 10%contingency factor. Administrative costs are <br /> projected at 30% of the construction cost and include engineering, legal, financing and <br /> other administrative costs. A summary of the project costs is as follows: <br /> Sanitary Sewer $290,000 <br /> Watermain Improvement $280,000 <br /> 1 Storm Sewer Improvement $710;000 <br /> Street Reconstruction $920,000 <br /> Total $2,200,000 <br /> 5.2. Funding Sources <br /> The total project cost is projected to be approximately$2,200,000. Funding for the <br /> ' project will come from a variety of sources including City is Street and Utility <br /> Reconstruction Funds (Public Improvement Bonds), Special Assessments to benefiting <br /> properties, and the Minnesota Department of Natural Resources. <br /> The City's assessment policy for street assessment is based on front footage along <br /> improved roads. The property owner is assessed 35%of total street and local drainage <br /> construction costs. Each property owner that receives a new water service will be <br /> assessed a flat rate per service hookup to new watermain. <br /> ' City of St.Anthony 2002 Street and Utility Improvement Project <br /> Feasibility Report <br /> WSB Project No. 1065-592 Page 6 <br />