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• Assessments will be made to benefitting properties as each phase is constructed,
<br />• Three standard methods of assessments were analyzed including: Frontage, Area, and Per Lot.
<br />• The City's existing assessment policy very closely matches the Frontage method, and
<br />• Gross acreage was used in lieu of net developable acreage in the calculations below.
<br />• Lot 6 was assessed by the short side of the lot. Lots 9 and 10 abut Armstrong Boulevard, a
<br />County roadway, and will access off of Bunker Lake Boulevard. Lot 7 abuts a portion of the Puma
<br />Street right of way that is anticipated to be vacated. Lots 1, 3 and 4 abut Alpine Drive, but access
<br />will be limited to Puma Street.
<br />The table below depicts a distribution based on all costs being assessed to the benefitting properties.
<br />We have assumed for this analysis the costs would be assessed to properties benefitting from each
<br />phase of construction. For instance, properties directly benefitting from Phase 1 improvements would
<br />be assessed for Phase 1 costs at the time of Phase 1 improvements. Some lots benefit from more than
<br />one phase of construction and would be assessed as future phases are constructed.
<br />Calculations were based on the areas and front footages (shown on page 12), along with the costs per
<br />phase (shown on page 10). Trunk sanitary sewer and trunk watermain were considered City costs and
<br />were not included in the calculations. For comparison, a summary of the unit costs used in the
<br />calculations is presented below:
<br />Frontage Area Per Lot
<br />Method Method Method
<br />Phase (Cost/FF) (Cost/Acre) (Cost/Lot)
<br />1 $ 462.89 $ 42,685.11 $ 596,700
<br />2 $ 742.27 $ 37,489.38 $ 544,400
<br />3 $ 594.51 $ 19,492.66 $ 497,800
<br />Based on the above cost distribution, the potential assessments per lot per phase is depicted below:
<br />Identification Frontage Area Per Lot
<br />Number Method Method Method
<br />Phase 1
<br />8 $ 621,700 $ 1,058,600 $ 596,700
<br />9 $ 583,700 $ 411,000 $ 596,700
<br />10 $ 584,600 $ 320,400 $ 596,700
<br />Phase 1 Totals $ 1,790,000 $ 1,790,000 $ 1,790,100
<br />Phase 2
<br />2 $ 363,000 $ 759,300 $ 544,400
<br />6 $ 262,000 $ 112,500 $ 544,400
<br />7 $ 1,008,000 $ 761,200 $ 544,400
<br />Phase 2 Totals $ 1,633,000 $ 1,633,000 $ 1,633,200
<br />Prepared by: Bolton & Menk, Inc. COST ALLOCATION ALTERNATIVES
<br />City of Ramsey — Future Business Park Page 14
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