Agenda - Council Work Session - 01/08/2013

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unit price basis and the contractor will only be paid for work completed. No costs are included for easements or wetland mitigation / permitting. Detailed cost estimates for the sanitary sewer and water extensions have been completed in conjunction with this report. The estimates include construction, a 10% allowance for contingency. A summary of the cost estimate for the entire project is presented in Table 1. Table 1. Estimate of Probable Cost Summary - Estimate of Probable Cost Item Estimated Total Costs Road Construction $2,168,000.00 Watermain $521,000.00 Sanitary Sewer $202,500.00 Total $2,891,500.00 Financing The City received a Cooperative Agreement grant in the amount of $702,000 which will partially fund the road construction and associated drainage improvements. The remaining of the road, associated drainage improvements, and bituminous sidewalk will be funded by the City's Municipal State Aid (MSA) account. The costs for extending the sanitary sewer and water main will be funded in the near term by the sewer and water enterprise funds, with those funds being paid pack over time through the collection of connection charges and /or assessments. A summary of the funding is as follows: Table 2. Financing Summary. 81 Page inancing Summary Description Amount Cooperative Agreement Grant $702,000 MSA Fund $1,466,000 Sewer Enterprise Fund $202,500 Water Enterprise Fund $521,000 Total $2,891,500 unit price basis and the contractor will only be paid for work completed. No costs are included for easements or wetland mitigation / permitting. Detailed cost estimates for the sanitary sewer and water extensions have been completed in conjunction with this report. The estimates include construction, a 10% allowance for contingency. A summary of the cost estimate for the entire project is presented in Table 1. Table 1. Estimate of Probable Cost Summary - Estimate of Probable Cost Item Estimated Total Costs Road Construction $2,168,000.00 Watermain $521,000.00 Sanitary Sewer $202,500.00 Total $2,891,500.00 Financing The City received a Cooperative Agreement grant in the amount of $702,000 which will partially fund the road construction and associated drainage improvements. The remaining of the road, associated drainage improvements, and bituminous sidewalk will be funded by the City's Municipal State Aid (MSA) account. The costs for extending the sanitary sewer and water main will be funded in the near term by the sewer and water enterprise funds, with those funds being paid pack over time through the collection of connection charges and /or assessments. A summary of the funding is as follows: Table 2. Financing Summary. 81 Page