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FINANCING 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 the <br />benefitting property on a per unit basis. <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 />The following table provides a cost summary for the project based on the total <br />O estimated cost, unit cost and annual amortized unit costs projected at 10 percent <br />interest for a period of 10 years. <br />COST SUMMARY <br />Total Costs $36,300 <br />Total Units 24 <br />Cost Per Unit $1,512.50 <br />Annual Unit Cost (10 years) $246.09 <br />• <br />CONCLUSIONS AND RECOMMENDATIONS: <br />The proposed improvements are feasible and will benefit the area served. It is <br />our recommendation that the City proceed with the improvements as presented. To <br />obtain the most economical bids, it is recommended that the City consider bidding <br />the project in conjunction with other street projects as one contract. <br />Rev. 7/16/81 <br />F 4 <br />