Laserfiche WebLink
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 which equals 75 percent of <br /> eligible project costs. No funds have been 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 and <br /> Overlay Program bonds. Stormwater Utility Funds are proposed to pay for all storm <br /> sewer improvements. <br /> Special assessments are proposed to pay back a portion of these costs based on the final <br /> assessments 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 2018. <br /> TABLE 1 <br /> Proposed Project Funding <br /> ASSESSMENTS CITY FUNDS TOTAL <br /> EstimatedCosts $70,752 $212,248 $283,000 <br /> Total Estimated Project Cost $283,000 <br /> Less Special Assessments (25%) - $70,752 <br /> Subtotal = $212,248 <br /> Less City Bonding Funds - $210,748 <br /> Subtotal = $1,500 <br /> Less Stormwater Utility Funds - $1,500 <br /> Total Remaining Cost = $0 <br /> Feasibility Report <br /> Rivers Bend Street Reconstructions <br /> City ofRamsey Project No.I7-02 Page 10 <br />