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Financin.Q and Assessments: <br /> <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 the <br />benefiting property on a per unit basis. The area to be assessed is shown on <br />Exhibit A. Exhibit A also shows several lot subdivisi6ns, which are-based on <br />the current subdivision ordinance of the city. <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 following 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 percent <br />interest for a period of 10 years. <br /> <br /> Total Costs <br /> Total Units <br /> Cost Per Unit <br /> <br /> Annual Unit Cost <br /> (10 Yrs. ) <br /> <br />Conculsions and Recommendations: <br /> <br />COST S~'~MARY <br /> <br /> $110,OO0 <br /> <br /> 67 <br /> <br /> $1,641.79 <br /> <br /> $ 267.21 <br /> <br />The proposed improvements are feasible and will benefit the area served. It is <br />our recommendation the City proceed with the improvements as presented. To <br />obtain the most economical bids, we would recommend that the City consider bidding <br />the project this fall at the earliest date possible. <br /> <br />-4- <br /> <br /> <br />