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~inancin§ and Assessments: <br />In accordance with the City of Ramsey's current street assessment policy, the <br />proposed street improvements are proposed to be financed by special assessments <br />to the benefitting property on a per unit basis. The commercial and industrial <br />property along 149th Avenue is proposed to be assessed at a rate of 2.4 times that <br />of the residential area since the cost of upgrading 149th Avenue is 2.4 times <br />greater per lineal foot than in the residential area. <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 tables provide a cost summary for the projects 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 /> COST SUMMARY <br />STREET IMPROVEMENT AS PETITIONED. <br /> <br />Total Costs $151,100 <br />Total Units 58.5 <br />Cost Per Unit $2,582.91 <br />Annual Unit Cost (10 Yrs.) $420.37 <br /> <br /> COST SUMMARY <br />ALTERNATE STREET IMPROVEMENT PROJECT <br />INCLUDING LIMONITE STREET AND 149TH AVENUE <br /> <br />Total Costs $187,000 <br />Total Units 76.1 <br />Cost Per Unit $2,457.29 <br />Annual Unit Cost {10 Yrs.) $399.93 <br /> <br />5 <br /> <br /> <br />