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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 /> <br /> TABLE VI ! <br />SUMMARY OF ESTIMATED R.E.C. COSTS <br /> <br />R.E.C. Cost for Typical Residential Lot <br />R.E.C. Cost for Quad Lot <br /> <br />Total Cost <br /> <br />Annual Cost* <br /> <br />$3,820.57 $ 982.27 <br />2,432.47 625.39 <br /> <br />VI. <br /> <br />*Based on a nine percent (9%) interest rate and a five (5) year <br />assessment period. <br /> <br /> PROJECTED PROJECT SCHEDULE <br /> <br /> If the City should elect to proceed with the improvements, the <br /> following schedule could be anticipated: <br /> <br />Accept feasibility study & set public <br />hearing date <br /> <br />Hold the public hearing <br /> <br />Order plans and specification. <br /> <br />Approve plans and specifications and <br />set bid date <br /> <br />Receive bids and award contract <br /> <br />Begin construction <br /> <br />Complete construction <br /> <br />Hold assessment hearing <br /> <br />First payments due with real estate taxes <br /> <br />March 25, 1986 <br /> <br />April 22, 1986 <br /> <br />April 22, 1986 <br /> <br />May 13, 1986 <br /> <br />June 10, 1986 <br /> <br />June 23, 1986 <br /> <br />August 15, 1986 <br /> <br />Sept., 1986 <br /> <br />1987 <br /> <br />VII. SUMMARY AND RECOMMENDATIONS <br /> <br /> The proposed improvements are technically feasible and will <br /> benefit the area served. It is recommended that the City take <br /> the following steps should the City Council decide to proceed <br /> with the improvements as presented. <br /> <br />11 <br /> <br /> <br />