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I <br /> I <br />I <br /> I <br /> I <br /> I <br /> I <br />I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> <br />Item <br /> <br />Bituminous Surfacing <br /> <br />Class V Gravel <br /> <br />Grading & Culvert Cleaning <br /> <br /> Estimated Construction Cost <br /> <br />ESTIMATED COSTS <br /> <br /> Estimated Quantity <br /> <br /> 1,650 Tons <br /> <br /> 1,500 Tons <br /> <br /> 1 Lump Sum <br /> <br />Contingencies, Engineering & Administration <br /> ESTIMATED PROJECT COST <br /> <br />Estimated Cost <br /> <br />$38,000.00 <br />8,40O.OO <br />6,600.00 <br />$53,000.00 <br />13~250.00 <br />$66,250.00 <br /> <br />FINANCiNG AND ASSESSMENT: <br /> <br />In accordance with the City of Ramsey's current street assessment policy, the <br />proposed improvements are proposed to be financed by special assessments to the <br />benefited property on a per unit basis, Lots abutting County Road No. 63 and <br />Gibbon Street which do not have amy access onto Gibbon Street are proposed to <br />be assessed a half u~it. <br /> <br />The benefited area is shown on Exhibit A. <br /> <br />The following table provides a cost summary for the project based on the total <br />estimated cost, unit cost amd annual amortized unit costs projected at 13 <br />perce~t interest for a period of 10 years. <br /> <br />COST SUMMARY <br /> <br />Total Cost <br /> <br />Total Units <br /> <br />Cost Per Unit <br /> <br />Annual Unit Cost (10 Years) <br /> <br />$66,250.00 <br /> <br /> 22.5 <br /> $2,944.44 <br /> <br /> $542.66 <br /> <br />-4- <br /> <br /> <br />