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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 />majority of the property is zoned Urban Business or Planned Unit <br />Development, it is recommended that a ten (10) year assessment <br />period be used. The interest would be one and one-half percent <br />(1.5%) greater than the rate of interest on the bonds. <br /> <br />The following table shows the annual costs for one acre <br />residential and one acre commercial lots ammortized over 10 years <br />at 10 percent interest: <br /> <br />TABLE IV <br /> <br />ANNUAL COSTS TYPICAL LOTS <br /> <br />Cost per acre residential <br />Annual unit cost per acre residential <br />Cost per acre commercial <br />Annual unit cost per acre commercial <br /> <br /> $784.08 <br /> $127.57 <br />$1,263.24 <br /> $205.53 <br /> <br />VIII.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 <br /> <br />Hold public hearing <br /> <br />Order plans and specifications <br /> <br />Approve plans and specifications and <br /> order bids <br /> <br />Receive bids <br /> <br />Be~in construction <br /> <br />Complete project <br /> <br />Assessment hearing <br /> <br />June 26, 1984 <br /> <br />July 24, 1984 <br /> <br />September 25, 1984 <br /> <br />October 23, 1984 <br /> <br />November 27, 1984 <br /> <br />December 10, 1984 <br /> <br />June 30, 1985 <br /> <br />August, 1985 <br /> <br /> <br />