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~MPROVEMENT PROJECT NO. 86-14 - 153RD AVENUE (_C?_:R~D_.__}? TO PUMA <br /> <br />~I tern <br /> <br />Estimated Quantity <br /> <br />Estimated Cost <br /> <br />Bituminous Material <br />Aggregate FA-2 Modified <br /> (Class C) <br /> <br />3,333 Gallons <br /> 167 Tons <br /> <br />$ 3,166.00 <br /> 2~338.00 <br /> <br />Estimated Construction Cost <br /> <br />$ 5,504.00 <br /> <br />Overhead Costs: <br /> Engineering <br /> City Staff Administration <br /> Bonding & Legal <br /> Contingencies <br /> <br />550.00 <br />275.00 <br />110.00 <br />165.00 <br /> <br />Estimated Project Cost <br /> <br />$ 6,604.00 <br /> <br />FINANCING AND ASSESSMENTS <br /> <br />In accordance with the City of Ramsey's current street assessment <br />policy, the proposed improvements on local streets are proposed to be <br />financed by special assessments to the benefiting property on a per <br />unit, or a front foot basis. For MSA Streets such as both segments of <br />153rd Avenue, it has been City policy to use MSA funds for seal <br />coating. Since both segments of 153rd Avenue were constructed over <br />five years ago, only MSA maintenance funds could be used for seal <br />coating. <br /> <br />Due to the current bond market situation, it is difficult to project <br />accurately the annual amortized unit costs. Therefore, an estimated <br />interest rate of ten percent (10%) will be used to project estimated <br />annual costs. In addition, it is proposed to have the projects <br />assessed by October 1, 1986. Therefore, the first years assessment <br />will include interest for 15 months. <br /> <br /> <br />