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ESTIMATED COSTS INCLUDING BITUMINOUS <br /> <br />Est. quantity <br /> 4250 Ton <br /> 7800 Ton <br /> Lump Sum <br /> <br /> Item <br />Bituminous Surfacing <br />Class V Gravel <br />Grading <br />Restoration and Culvert <br />Installation Lump Sum <br /> <br /> Estimated Construction Cost <br /> Contingencies, Engineering & Administrative <br /> ESTIMATED PROJECT COST <br /> <br />Est. Cost <br />$ 85,000 <br /> 39,000 <br /> 16,500 <br /> <br />20,700 <br /> <br />$161,200 <br /> 40,300 <br />$2Ol,5OO <br /> <br />The cost of the project could be reduced by $106,250, if the bituminous surfacing <br />is deleted. Therefore, the cost excludin9 bituminous would be $95,250. <br /> <br />Financin9 and Assessments: <br />In accordance with the City of Ramsey's current street assessment policy, the <br />proposed improvements are proposed to be financed by special assessments to <br />the benefiting property on a per unit basis. The area to be assessed is shown <br />on Exhibit A. The large lot next to Baugh Street and 176th Avenue N.W. is proposed <br />to be assessed for two lots since it can be subdivided. <br /> <br />Due to the current bond market situation, it is difficult to project accurately <br />the annual amortized unit costs. Therefore, an estimated interest rate of 10 <br />percent will be used to project estimated annual costs. <br /> <br />The followin9 table provides a cost summary for the project based on the total <br />estimated cost, unit cost and annual amortized unit costs projected at 10 per- <br />cent interest for a period of 10 years~ <br /> <br /> <br />