6.3. SR 01-13-2003 - Laserfiche WebLink

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assessment manual, the overhead costs have been estimated at 28% of the total construction cost. The overhead cost includes City administration, engineering design, construction staking and inspection, and fiscal and legal costs. Table 1 Project Cost Estimate Sanitary SewerNVater/Restoration Upgrade to Urban Street Section with Storm Sewer Total Construction Cost Administration, Engineering, Fiscal, & Legal Contingency (5%) Total Project Cost $276,5OO $ 68,5oo $345,000 $ 97,000 $ 17,500 $459,500 VIII. FINANCING Financing methods for the proposed improvements on Boston Street and Concord Street are based on the City's Assessment Manual and past practices. They will include proposed assessments for sanitary sewer, water and restoration improvements to those properties abutting Boston Street, Concord Street and Mississippi Road that have not been previously assessed. As has been the City's past practice when City utilities are extended into a neighborhood, the reconstructed streets on Boston Street and Concord Street are proposed to be built to the City Urban Standard, including concrete curb and gutter and storm sewer. The cost of the street reconstruction beyond restoration of the existing section is proposed to be funded by the City as has been the policy established in other similar projects. It is recommended the City Street Reserve Fund be used for this portion of the financing. The amount is estimated to be $92,000. IX. ASSESSMENTS As stated previously, it is proposed to assess the cost of the sanitary sewer, water and restoration improvements to those properties on Boston Street, Concord Street and Mississippi Road not previously assessed for City utility service. The portion of the project cost to be assessed is estimated at $367,500.