Laserfiche WebLink
In addition to the construction costs, there are overhead costs estimated at 30% of the construction <br />costs. Overhead costs include, but are not limited to engineering, construction staking, inspection, <br />fiscal, legal, administrative and contingency costs. An estimate of these costs is as follows: <br /> <br />Engineering 10% <br />Staking and Inspection 7% <br />Fiscal and Legal 3% <br />Administration 5% <br />Contingencies 5% <br />Total 30% <br /> <br /> TABLE 1 <br />ESTIMATED PROJECT COSTS <br /> <br />Improvement <br />Sanitary Sewer Lateral <br />Watermain Lateral <br />B & B Carpet Water Service <br /> <br />Project Assessable Cost <br /> <br />$ 30,620.00 <br /> 32,790.00 <br /> 7,730.00 <br /> <br />Estimated Construction Cost <br /> <br />$71,140.00 <br /> <br />Overhead ~ 30% <br /> <br />$21,342.00. <br /> <br />Estimated Total Project Cost <br /> <br />$92,482.00 <br /> <br />FINANCING/ASSESSMENT <br /> <br />Historically, in the City of Ramsey, total project costs have been divided equally among the total <br />number of benefitted lots. However, in this case, the lot size significantly varies between parcels. <br />For this reason, it is proposed that the total project costs be divided on an area basis for each parcel. <br />This is a reasonable basis for commercial property such as these parcels. A surmnary of each <br />parcels' cost is presented in Table 2. In addition to the total project cost, each unit must contribute <br />a uniform amount for sanitary sewer trunk and water trunk facilities. This tnmk charge amount <br />finances the oversizing of sanitary sewer and water lines. <br /> <br />City policy allows the recovery of the total assessable cost over a 10-year period for existing <br />commercial properties. The assessment policy utilizes an interest rate of two percent over prime rate <br />in effect at the time the assessment resolution is passed. The interest rate to be charged on this <br />project is estimated to be 10 percent. <br /> <br /> <br />