Agenda - Council - 08/12/2003 - Laserfiche WebLink

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TABLE 1 OPTIOCq 1, PAVED STREET SUMMARY OF ESTIMATED TOTAL PROJECT COST Street Construction Cost Storm Drainage Construction Cost Water Construction Cost Sanitary Sewer Construction Cost Total Construction Cost Construction Overhead Cost (33%) Estimated Construction Cost ROW & Easement Cost -(.95 Acres@ $ 40,000/Acre) $181,245 $ 94,155 $ 83,299 $ 75,675 $434,374 $ 143,343 $ 577,717 $ 38,000 Total Project Cost $615,717 In projecting the estimated costs of construction, data from projects constructed in the metropolitan area over the last several years and a working knowledge of the construction activity in the area were used. These costs are expressed in current dollars. TABLE 1 OPTION 2, GRAVEL STREET I I I I I I I I I SUMMARY OF ESTIMATED TOTAL PROJECT COST Street Construction Cost Storm Drainage Construction Cost Water Construction Cost Sanitary Sewer Construction Cost Total Construction Cost $101,878 $141,385 $ 83,299 $ 75,675 $402,237 I I I 6.0 · Construction Overhead Cost (33%) Estimated Construction Cost · ROW& Easement Cost (.95 Acres@ $ 40,000/Acre) $ 132,738 $ 534,975 $ 38,OOO Total Project Cost $572,975 METHOD O.F PAYMENT The preferred method for financing the proposed improvements is to assess the benefited properties on a front footage basis or on another equitable measurable basis for the immediate area in accordance with Minnesota Statutes 429. Due to comments received at the informational meeting regarding the large difference in lot sizes, the staff is recommending the front foot method of financing for this I I i I I Page 7 -208- G:\MunicipalLARAMS EY\633\RA633FSR2.doc