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<br /> <br /> <br />Feasibility Report <br />121st Avenue and Acres of Bald Eagle <br />Utility & Street Improvements Project <br />City of Hugo, MN <br />WSB Project No. 018363-000 Page 8 <br />5 FINANCING <br /> <br />5.1 Opinion of Probable Cost <br /> <br />A detailed opinion of probable cost is included in Appendix B of this report. Costs associated with <br />grading, temporary stabilization, clearing and grubbing of the development site are excluded from the <br />feasibility study and will be contracted directly by the development team. The opinion of probable cost is <br />based on projected construction costs for 2021 and includes a 10% contingency and 25% indirect costs. <br />The indirect costs include engineering, legal, and administrative costs associated with the project. <br /> <br />The project costs are summarized as follows: <br /> <br />121st Avenue and Acres of Bald Eagle <br />Utility & Street Improvements Project <br />City of Hugo, MN <br />Project Costs <br />Improvements Total <br />Schedule A. Sanitary Sewer Improvements $160,414.80 <br />Schedule B. Watermain Improvements $208,255.80 <br />Schedule C. Water/Sewer Services Improvements $143,887.56 <br />Schedule D. Storm Sewer Improvements $53,924.21 <br />Schedule E. Street Improvements $310,133.82 <br />Total Improvements $876,616.20 <br /> <br />5.2 Funding <br /> <br />Funding for the project will be provided through the City Trunk Water Fund for watermain oversizing, the <br />Acres Of Bald Eagle, and assessments to benefiting properties for sewer and water services. Generally, <br />costs to construct development improvements and 121st Street improvements are the responsibility of the <br />developer; new watermain, sewer and services to provide utilities to existing properties are the <br />responsibility of the property owners. Trunk watermain costs for oversizing watermain to meet future <br />City needs are the responsibility of the City Trunk Water Fund. <br /> <br />The proposed funding is outlined as follows: <br /> <br />121st Avenue/Acres of Bald Eagle <br />Utility & Street Improvements <br />Project Funding <br />Improvements Acres of Bald <br />Eagle <br />Watermain <br />Oversizing <br />(City) <br />Assessments <br />(121st St) Total <br />Schedule A. <br />Sanitary Sewer Improvements $160,414.80 $160,414.80 <br />Schedule B. Watermain <br />Improvements $158,323.36 $49,932.44 $208,255.80 <br />Schedule C. Water/sewer <br />Service Improvements $54,608.40 $89,279.16 $143,887.56 <br />Schedule D. Storm Sewer <br />Improvements $53,924.22 $ 53,924.22 <br />Schedule E. Street <br />Improvements $310,669.42 $310,133.82 <br />Total Improvements $737,404.60 $49,932.44 $89,279.16 $876,616.20