Agenda - Council - 04/20/1982 - Special

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I I I I I I I I I I it is proposed Lo assess the cost of paving 164th Lane N.W. Lo .3unkite St. N.W. between 164th Lane and Barthel's Rum River Acres 2nd Addition to the lots in Bar- thel's Rum River Acres 2nd Addition. This cost is estimated to be $18,000. The remainder of the project cost or $42,000 is proposed Lo be assessed to Barthel's Rum River Acres. Based on the Cir_y of Ramsey's current street assessment policy, the proposed im- provements are proposed to be financed by special assessments to the benefitting property on a per unit basis. The benefitted area is shown on Exhibit A. The following table provides a cost summary for the project based on the total esti- mated cost, unit cost and annual amortized unit costs projected at 13 percent inter- est for a period of 10 years for each of the additions. COST SUMMARY Total Cost Cost Assessed to Barthel's Rum River Acres 2nd Addition Cost Assessed to Barthel's Rum River Acres. $55,000 $18,000 $37,000 Unit Costs Barthei's Rum River Acres 2nd Addtion Assessed Cost Total Units COsL Per Unit Annual Unit Cost (10 Years) $18,000.00 $500.00 $92.15 Unit Costs Barthel's Rum River Acres Assessed Cost Total Units Cost Per Unit Annual Unit Cost (10 Years) $37,000.00 30 $1,233.33 $227.30 4