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FINANCING <br /> <br /> Lateral Watermain Street Conc C&G Sidewalk Total <br />Funding Source S & W Looping Imprvmnts Imprvmnts Imprvmnts Project <br /> <br />Special Assmnt 48,960 13,199 14,462 $ 76,821 <br />S&W Trunk Fund 33,113 $ 33,113 <br />City Gend Fund 13,198 7,538 $ 20,736 <br />City Trail Fund 20,188 $. 20,188 <br />TOTAL 48,980 33, 1 I3 2~,397. 22,000 .20,188 $150,658 <br /> <br />t.n addition to the direct project costs, trunk assessments will be levied on the parcels. <br />which will be receiving sewer and water availabilitY. While the development status of <br />some of the assessed parcels may change in the future, these trunk assessments will. be <br />based upon each of the parcels current zoning status: If for example one existing single <br />fi~mily parcel is subdivided into two single family parcels, it is proposed that one trunk <br />unit assessment will be assessed under this project and that the-additional trunk unit <br />assessment would be collected at the time of the subdivision under the terms of the <br />development agreement. The summary of assessments which is presented in shown in <br />Appendix D shows that $17,793 will be collected l~om three parcels benefited by this <br />project. This amount will partially offset the trunk fund expenditure of $33,113 caused by <br />this project. This project also provides the potential to collect additional trunk and latei'al <br />benefit charges without additional construction costs if adjacent parcel subdivide or <br />develop to a more intensive land use. A summary of assessments shown by individual <br />parcel is contained in Appendix D. <br /> <br />The project will have a final tabulation made on actual project costs consistent with the' <br />methodology described in this report. A public hearing will be held identifying the actual <br />costs, to be recovered by special assessment. Each property may, at any time prior to <br />certification of the assessment to the County Auditor, paythe whole of the assessment on <br />such property, with interest, except that no interest shall .be. charged if the entire <br />assessment is paid within 30 days Eom the adoption of the assessment resolution. <br />Special assessments reported to Anoka County shall be payable over a ten year period <br />with interest at a rate of two percent (2%) above the U.S. Treasury rate at the time of the <br />special assessment hear/ng. <br /> <br />-5- -277- <br /> <br /> <br />