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53 <br />Table 2 <br />Assessment Cost Analysis <br />Existing CIP - Concrete Pavement <br />An $8,000 average assessment (based on assessment costs provided in Task Force Meeting No. 2 <br />and No. 3) spread over 15 years at 6.0% interest would have the following annual cost based on the <br />following methods: <br />Equal Payment <br />Years 1-'15 = $533.33/year <br />Total = $11,840.00 <br />Increase over Existing CII3: $3,108.00 <br />Increase Principal: $2,100.00 <br />Increase in Interest: $1,008.00 <br />Equal Principal <br />YEAR <br />PRINCIPAL <br />INTEREST_ <br />TOTAL <br />1 <br />$533.33 <br />$480.00 <br />$1,013.33 <br />2 <br />$533.33 <br />_ <br />$448.00 <br />$981.33 <br />3 <br />$533.33 <br />$416.00 <br />$949.33 <br />4 <br />$533.33 <br />$384.00 <br />$917.33 <br />5 <br />$533.33 <br />$352.00 <br />$885.33 <br />6 <br />$533.33 <br />$320.00 <br />$853.33 <br />7 <br />$533.33 <br />$288.00 <br />$821.33 <br />8 <br />$533.33 <br />$256.00 <br />$789.33 <br />9 <br />$533.33 <br />$224.00 <br />$757.33 <br />10 <br />$533.33 <br />$192.00 <br />$725.33 <br />11 <br />$533.33 <br />$160.00 <br />$693.33 <br />12 <br />$533.33 <br />$128.00 <br />$661.33 <br />13 <br />$533.33 <br />$96.00 <br />$629.33 <br />14 <br />$533.33 <br />$64.00 <br />$597.33 <br />15 <br />$533.33 <br />$32.00 <br />$565.33 <br />TOTAL <br />I <br />$11,840.00 <br />Street Reconstruction Task Force Findings Report <br />November 13, 2008 <br />WSB Project No. 1626-03 <br />