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! <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 />The following table Summarizes the financing of the proposed <br />imprOvements utilizing the three alternatives: <br /> <br /> TABI.E III <br /> <br />STORM DRAINAGE IMPROVEMENT FINANCING ALTERNATIVES <br /> <br />ae <br /> <br />Alternate A: Current City Policy <br /> <br />Trunk Cost <br />Benefited Residential Area <br />Benefited Commercial/Industrial Area <br />Cost per Residential Acre <br />Cost per Commercial/Industrial Acre <br /> <br />Assessed Cost Residential = <br /> 1,910 x $138.94 = <br /> <br />$387,400.00 <br /> 1,910 Acres <br /> 549 Acres <br /> $138~94 <br /> $222.30 <br /> <br />.$265,375.40 <br /> <br />Assessed Cost Commercial/Industrial = <br /> 549 x $222.30 = <br /> <br />$122,042.70 <br /> <br />Total Assessed Cost: <br /> <br />Subdrain Cost <br />Benefited Area <br />Cost per Acre <br /> <br />$387,418.10 <br /> <br />$42.,900.00 <br /> 11 Acres <br /> $3,900.00 <br /> <br />Alternate B: Storm Sewer Improvement District <br /> <br />Trunk Cost <br />Cost per Year <br />Estimated'Assessed Valuation <br />Estimated Tax Mill Levy <br />Estimated Increase in Taxes for <br /> $70,000 Home <br /> <br /> $387,400.00 <br /> $63,030.00* <br />$6,000,000.00 <br /> 10.5 Mills <br /> <br />$145.00 <br /> <br />Subdrain Cost - Assess the same as <br /> Alternate A <br /> <br />Alternate C: City Wide Storm Sewer Improvement District <br /> <br />Trunk Cost <br />Cost per Year <br />Estimated Assessed Valuation <br />Estimated tax Mill Levy <br />Estimated Increase in Taxes for <br /> $70,000 Home <br /> <br /> $387,400.00 <br /> $63,030.00* <br />-$45~000 000.00 <br /> 1.4 Mills <br /> <br />$19,40 <br /> <br />Subdrain Cost - Assess the same as <br /> Alternate A <br /> <br />*Amortized at 10% over 10 years. <br /> <br />9 <br /> <br /> <br />