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5, FINANCING <br />5.1. Opinion of Probable Construction Cost <br />A detailed breakdown of the Cost Opinion for the proposed project is included in <br />Appendix B. The opinion of cost incorporates the construction costs experienced during <br />2007 and 2008, and includes a 15% contingency factor. Administrative costs are <br />projected at 25% of the construction cost and include engineering, legal, financing, and <br />other administrative costs. A summary of the project costs is as follows: <br />Arbors Alley Roadway and Utility Improvements <br />City of Saint Anthony Village, Minnesota <br />CDpiuion of Probable Cost_ <br />_ ____ <br />Total Street Improvements <br />$44,010 <br />"Total Watermain Improvements <br />$40,300 <br />Total Proposed Improvements <br />$84,310 <br />5.2. Funding Sources <br />The total project cost is projected to be approximately $84,000. Funding for the project <br />will come from Special Assessments to benefiting properties. <br />Arbors Alley Roadway and Utility Improvements <br />City of Saint Anthony Village, Minnesota <br />Project Costs and Proposed Funding Sources <br />Proposed ImpYbImprovementsFandin <br />source9 <br />Total <br />Assessable <br />Cit <br />_ <br />Street Improvements <br />$44,010 <br />$0 <br />$44,010 <br />Watermain Improvements_ <br />Total ** c� <br />$40,300 <br />$84,310 <br />_ <br />$0 <br />$0 <br />$40,300 <br />$84,310 <br />** This project anticipates issuing 429 public improvement. bonds. <br />Feasibil(N Report <br />A, hom Alley Roadway and Utility Imp, ovemeni Project <br />City ofS1. AnUmny <br />WS13 Project No. 1626-42 <br />Page 7 <br />