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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 $40000 <br /> ' Watermain Improvement $365,400 <br /> Storm Sewer Improvement '$18,5001 <br /> .....__. _......-_............................................__....._ _..._.._-......._..........._........................................._..._....__._..........-.......; <br /> EStreet Reconstruction $951,7001 <br /> Total + S1,736,200 j <br /> 5.2. Funding Sources <br /> ' The total project cost is projected to be approximately $1,736,200. Funding for the <br /> project will come from the City's Street and Utility Reconstruction Funds (Public <br /> Improvement Bonds) and Special Assessments to benefiting properties. <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 /> Project Costs and Proposed Funding Sources <br /> Funding Sources <br /> Proposed Improvements Assessable; City Total <br /> 1. Street Reconstruction $333,095 $618,605 $951,700 <br /> ' H. Watermain Cost* $24,800 $340,600 $365,400 <br /> 111. Storm Sewer Improved $6,475 $12,025 $18,500. <br /> ' N. Sanitary Cost $0 $400,6001 $400,600 <br /> Total ** $364,370 $1,371,830 $1,736,200 <br /> * Watermain is assessed at $400 per connection. This project contains 62 <br /> connections. <br /> ** This project anticipates issuing approximately$1.7 million public <br /> improvement funds. <br /> t <br /> 1 - <br /> City of St.Anthony- 2003 Street and Utility Improvement Project <br /> ' Feasibility Report <br /> WSB Project No. 1065-71 Page 6 <br />