Agenda - Council - 05/23/1995 - Laserfiche WebLink

Home

ESTIMATED COST~ The estimated construction and project costs are summarized in Table 1. Detail cost estimates are included in Appendix B. The estimated costs in Table 1 indicate those costs which are lateral or project assessable, and the incremental additional cost for installation of the 12-inch trunk watenn~in in 151st Avenue in place of a standard 8-inch lateral watermain. Table 1 also indicates overhead costs at 30% of the construction costs, as an allowance for engineering, legal and other indirect!costs. This allowance is comprised of the following components, with the final cost of these items determined by actual conditions when each is completed. Engineering 10% Staking and Inspection 7% Fiscal and Legal 3% A dmi nistration 5 % Contingencies .5% Total 30% The cost for trails is to be credited against the total park dedication in the amount of $6.00 per lineal foot. An optional cost is also included to provide a 20-foot-span prefabricated bridge to cross the County ditch. This cost is not included in the project totals. = TABLE 1 ESTIMATED PROJECT COSTS FOX KNOLL I.P. #95-15 Project Trunk Im_.~_provement Assessable Attributable Sanitary Sewer $ 35,300 $ 0 $ 35,300 Watermain 35,300 5,100 40,400 Storm Sewer 11,800 0 11,800 Streets 29,700 0 29,700 Trails 8.800 0 8.800 Total Construction Cost $120,900 $5,100 $126,000 Overhead Costs @ 30% Const. Cost Total Project Cost 36,300 1,500 37,800 $157,200 $6,600 $163,800 The total estimated project assessable costs are proposed to be divided equally amongst each of the 22 lots being developed, regardless of the frontage of the individual properties. The oversizing trunk charges for the watermain will be paid from water trunk charges, which is a uniform rate charge to all users. The current 1995 trunk charge rate for sanitary sewer and water is $1539 per residemial connection. This project will assess $33,858 in trunk charges and expend $6,600 from the trunk fund. City policy has previously allowed the recovery of the total assessable cost over a five-year period for new developments. The assessment policy utilizes an interest rate of 2% over the prime rate in effect at the time the assessment resolution is passed. The interest rate to be charged_ on this project is estimated to be I t %.