Agenda - Council - 01/12/1993 - Laserfiche WebLink

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TABLE 2 TOTAL PROJECT COST Construction Cost Engineering & Project Management @ 10% Staking & Inspection @ 7% Fiscal & Legal @ 3% Contingencies @ 5% Administration @ 5% TOTAL PROJECT COST: $9,016.00 902.00 631.00 270.00 451.00 47~ $11,72I .00 FINANCING The total project costs have been identified in the previous section. The project will provide benefit to two parcels, P.I.N. 22-32-25-33-0016 and 22-32-25-33-0017. It is proposed that these parcels share the total project cost equally. Accordingly, each parcel is estimated to be charged $5,860. This amount may be paid without interest for a period of thirty (30) days after an assessment hearing is conducted at the conclusion of the project. If the amount due is unpaid at the end of this period, the cost will be assessed with interest payable over a ten year period. The interest rate will be determined by Git5, Council at the time of the assessment. An estimated interest rate of eight percent (8%) being used for this feasibility study would result in an annual assessment of $873. PROJECT SCHEDULE The following schedule could be anticipated for pursuing this project: Accept feasibility study and set public hearing Hold public hearing Order plans and specifications Receiv6 plans and specifications and set bid dates Award project Be~n construction Complete construction Hold assessment hearings First payment due with real estate taxes December 22, 1992 January I2, 1993 March 23, 1993 April 13, 1993 April 27, 1993 May I993 May 1993 Jul5, 1993 May 1994