4.4. SR 02-17-1998 - Laserfiche WebLink

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In accordance with the City's Assessment Manual, the overhead cost has been estimated at 28% of the total construction costs. This overhead cost includes city administration, engineering, and fiscal and legal costs. Table 1 Watermain Construction Sanitary Sewer Construction Street Reconstruction $16,525.00 $11,925.00 $17.350.00 Total estimated Construction Cost Overhead costs Total Estimated Project Cost $45,800.00 $12.800.00 $58,600.00 According to the City's Assessment Policy these types of improvements are typically funded by assessments to the benefited properties. There are a total of three lots along the west side of Boston, none along the east side, and Orono Cemetery at the north end. The two lots at the intersection of Orono Road and Boston Street can be served from Orono Road so they have been excluded from this study. Further analysis of the three benefited lots along the west side of Boston Street reveals that two of them could be further subdivided. If these were to be further subdivided in the future the newly created lot should pay an assessment for City services. Therefore it is proposed to treat these lots as two assessable units .with one unit deferred until the lot is subdivided. The deferred assessment would accrue no interest and if the lot were never split would never be collected. Since Orono Cemetery is only interested in water service it is proposed to treat it as one-half unit. This would result in a total of 5 1/2 assessable units with two of those being deferred. Given the estimated total project cost of $58,600 the assessment per unit would be $10,650. The following table lists the benefited properties and their proposed assessment. Units Units Assessment Assessment Property Assessed Deferred Level Deferred Orono Cemetery 0.5 -0- $5,325 -0- David Dirkes 1.0 1.0 $10,650 $10,650 Kathreen Secora Et Al 1.0 -0- I $10,650 -0- Karen Thomas 1.0 1.0 I $10.650 $10.650 TotalI $37,275 $21,300 FEAS-801.210 3 801210j