Agenda - Council - 07/09/1991 - Laserfiche WebLink

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I i I I I I I I I I I I I cleared and rough graded by the developer prior to the installation of the sanitary sewer and watermain. The following Table I shows the estimated costs for the sanitary sewer, watermain, storm sewer and streets. TABLE I SANITARY SEWER, WATERMAIN, STORM SEWER AND STREETS ESTIMATED COSTS Estimated Construction Costs Sewer . Water Storm ~ Street Construction Costs: Overhead 35% Estimated Project Cost: $25,000 35,000 12,000 25,000 $97,000 34,000 $131,000 V. METHOD OF PAYMENT AND SUMMARY OF COSTS Based on the city's current assessment ordinance, it is proposed to assess all lateral costs on a unit basis to the development of Chestnut Pond. The standard city assessment period is five (5) years for residential development. The interest charged would be one and one-half percent (1.5%) greater than the rate of interest the City pays on the bonds. In addition to the lateral costs, the proposed development will be assessed for trunk sanitary sewer costs and watermain trunk source and storage costs. The current trunk costs are $421.00-per unit for sanitary sewer and $936 per unit for watermain trunk, source and storage for total of $1,357. The following Table II provides a summary of assessed costs for the trunk and lateral costs for the 17 developable units. TABLE II SUMMARY OF ASSESSED COSTS (17 units) Total Per Unit* Estimated Project Cost Estimated Trunk Water Oversizing Estimated Lateral Project Cost Standard City Trunk Assessment $131,000 8,000 123,000 7,235 1,357 $8,592/unit