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N <br />ESTIMATED COSTS <br />Street Improvement -*Bower's Mississippi Acres 2nd & 3rd Additions <br />Item <br />Bituminous Surfacing <br />Class V Gravel <br />Grading - <br />Restoration <br />Estimated Quantitv <br />Estimated Cost <br />600 Ton <br />1250 Ton <br />Lump Sum <br />Lump Sum <br />Estimated Construction Cost <br />Contingencies, Engineering, Administrative & <br />Easements <br />ESTIMATED PROJECT COST <br />SUMMARY OF COSTS <br />Bower's Mississippi Acres <br />Bower's Mississippi Acres 2nd & 3rd Additions <br />TOTAL ESTIMATED PROJECT COST <br />$ 15,600 <br />7,200 <br />2,900 <br />1,000 <br />$ 26,700 <br />6,675 <br />$ 33,375 <br />$140,850 <br />33,375 <br />$174,225 <br />FINANCING AND ASSESSMENTS <br />In accordance with the City of Ramsey's current street assessment policy, the proposed <br />street improvements are proposed to be financed by special assessments to the bene- <br />fitting property on a per unit basis. Since the drainage improvements are required <br />to construct the street, it is proposed to assess the storm sewer on a per unit <br />basis with the street. <br />Due to the current bond market situation, it is difficult to project accurately the <br />annual amortized unit costs. Therefore, an estimated interest rate of 10 percent <br />will be used to project estimated annual costs. <br />The following tables provide a cost summary for the projects based on the total estima- <br />ted cost, unit cost and annual amortized unit costs projected at 10 percent interest <br />for a period of 10 years. <br />4 <br />