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5. FINANCING <br />5.1 Opinion of Cost <br />A detailed opinion of probable costs for the proposed improvements can be found in Appendix B <br />of this report. The opinion of probable costs incorporates anticipated 2017 construction costs for <br />the proposed improvements plus 23% indirect costs for administrative, engineering, financing <br />and legal costs. No construction contingency costs are included in the estimated costs. <br />City staff prepared the Feasibility Report in-house as part of staff's normal duties. <br />NTI prepared the Geotechnical Exploration and Engineering Review, included in Appendix C, at <br />a cost of $4,400. <br />WSB and Associates, Inc. prepared the Pavement Evaluations and Recommendations included in <br />Appendix D, at the not -to -exceed cost of $2,687.50. <br />5.2 Funding <br />5.2.1 Assessments <br />The use of special assessments is not being proposed with this project. <br />5.2.2 City Contribution <br />The City will fund this project in its entirety. No funds have been budgeted for this <br />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 />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 />Feasibility Report <br />Alpine Drive Reconstruction <br />City of Ramsey Project No. 17-01 <br />Page 9 <br />