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54 <br />Table 3 <br />Assessment Cost Analysis <br />100% Extra Concrete Costs Assessed <br />An $11,800 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 = $786.67/year <br />Total = $17,464.00 <br />Increase over Fxisting CIP: $7,286.50 <br />Increase principal: $5,900.00 <br />Increase in Interest: $2,832.00 <br />Equal Principal <br />YEAR <br />PRINCIPAL <br />INTEREST <br />TOTAL <br />1 <br />$786.67 <br />$708.00 <br />$1,494.67 <br />2 <br />$786.67 <br />$660.80 <br />$1,447.47 <br />3 <br />$786.67 <br />$613.60 <br />$1,400.27 <br />4 <br />$786.67 <br />$566.40 <br />$1,353.07 <br />5 <br />$786.67 <br />$519.20 <br />$1,305.87 <br />6 <br />$786.67 <br />$472.00 <br />$1,258.67 <br />7 <br />$786.67 <br />$424.80 <br />$1,211.47 <br />8 <br />$786.67 <br />$377.60 <br />$1,164.27 <br />9 <br />$786.67 <br />$330.40 <br />$1,117.07 <br />10 <br />$786.67 <br />$283.20 <br />$1,069.87 <br />11 <br />$786.67 <br />$236.00 <br />$1,022.67 <br />12 <br />$786.67 <br />$188.80 <br />$975.47 <br />13 <br />$786.67 <br />$141.60 <br />$928.27 <br />14 <br />$786.67 <br />$94.40 <br />$881.07 <br />15 <br />$786.67 <br />$47.20 <br />$833.87 <br />TOTAL <br />1 $11,800.00 <br />IL $5,664.00 <br />$17,464.00 <br />Street Reconstruction Task Force Findings Report <br />November 13, 2008 <br />WSB Project No. 1626.03 <br />