Agenda - Council - 03/12/1996 - Laserfiche WebLink

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03107/96 16:20 FAX 61g 441 ~b~ TABLE ESTIMATED COSTS FOX KNOLL 2ND ADDITION, I.P. 96-16 Project Trunk Improvement Assessable Attributable Total Sanitary Sewer $101,900.00 $ 45,035.00 $146,935.00 Watermain 95,600.00 16,200.00 111,800.00 Storm Sewer 24,350.00 0.00 24,350.00 Streets 78,016.00 0.00 78,016.00 Trails 21,950.00 0.00 21,950.00 Total Construction Cost $322,816.00 $ 61,235.00 $384,051.00 Overhead Costs @ 13% Const. Cost 41,984.00 7,965.00 49,949.00 Total Project Cost $364,800.00 $ 69,200.00 $434,000.00 FINANCING The total estimated assessable project costs are proposed to be divided equally amongst each of the 46 lots being developed. The oversizing costs of the watermain and extra depth costs of sanitary sewer will be paid from funds generated by the water and sanitary sewer trunk charge, which is a un/form rate charge to all users. The current 1996 trunk charge rate for sanitary sewer and water is $1563.00 per residential connection. City policy has previously allowed the recovery of the total assessable cost over a 5 year period for new developments. The assessment policy utilizes an interest rate of 2% over the U.S. Treasury note rate in effect at the time the assessment resolution is passed. The interest rate to be charged on this project is estimated to be 8.0%. Table 2 summarizes the apparent assessments for the Fox Knoll Project. TABLE 2 FOX KNOLL 2ND ADDITION, I.P. 96-16 Total Assessable Project Cost Number Of Assessable Lots Assessable Project Cost Per Lot Trunk Sanitary Sewer & Water Charge Total Assessable Unit Cost $364,800.00 46 $ 7,930.00 $ 1,563.00 $ 9,493.00 Annual Per Lot Assessment ( 5 Year Term) $ 2,378.00 I I I I I I I I I I I I I I I I I I I