Agenda - Council - 04/09/1996 - Laserfiche WebLink

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TABLE t ESTIMATED COSTS FOX KNOLL 2ND ADDITION, I.P. 96-I6 · .. 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 21350.00 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 $ 69,7,00.00 $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 oversizin_g costs of the watermain and extra depth costs of sanitary sewer will be pmid from funds generated by the water and san/tary sewer trunk charge, which is a uniform 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 t/me 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 '/DDITION, 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