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5.2.2 City Contribution <br />The City contribution to the project will include all funding in excess of the amount <br />collected through special assessments to benefiting properties. No funds have been <br />budgeted for this project. <br />The City's share of eligible project costs related to surface (street) improvements is <br />proposed to come from the previously encumbered 5-year street reconstruction bonds. <br />Stormwater Utility Funds would be utilized for all storm sewer improvements. <br />Special assessments would be used to pay back a portion of these costs based on the term <br />of the special assessments as adopted by Council at the end of the project. <br />Table 1 illustrates the proposed project funding based on the proposed design outlined <br />within this report. This funding program assumes construction will occur in 2017. <br />Estimated Costs <br />TABLE 1 <br />Proposed Project Funding <br />ASSESSMENTS <br />$151,750 <br />Total Project Cost <br />Less Special Assessments <br />Subtotal <br />Less City Bonding Funds <br />Subtotal <br />Less Stormwater Utility Funds <br />TOTAL Remaining Cost <br />CITY FUNDS <br />$455,250 <br />TOTAL <br />$607,000 <br />$607,000 <br />$151,750 <br />$455,250 <br />- $447,950 <br />$7,300 <br />- $7,300 <br />$0 <br />Feasibility Report <br />Sunwood Drive Reconstruction <br />City of Ramsey Project No. 17-00 <br />Page 10 <br />