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ESTIMATED PROJECT COSTS <br /> The total estimated project cost for New Brighton's share of Project 10-3 is as follows: <br /> ESTIMATED <br /> COST <br /> Construction Costs $673,000 <br /> Contingencies (15%) $101,050 <br /> In-House Engineering and Administration (5.8%) $44,950 <br /> Outside Engineering(14.2%)* $110,000 <br /> Capitalized Interest(5%) $38,750 <br /> TOTAL ESTIMATED PROJECT COST $968,450 <br /> *This is a preliminary estimate provided from WSB &Associates, Inc. All costs will be agreed <br /> upon in a cooperative agreement between St. Anthony and New Brighton. This agreement will <br /> be considered by the New Brighton at the December 8, 2009 Council Meeting. <br /> PROJECT FUNDING <br /> The New Brighton portion of this project, if approved, would be funded from a combination of <br /> City of New Brighton general taxes, special assessments, M.S.A. Construction Funds, <br /> Watermain Replacement Fund, Sanitary Sewer Utility Fund, and the Storm Water Management <br /> Fund. St. Anthony Village will be responsible for one-half of the street and storm sewer <br /> improvements and one-hundred percent of the St. Anthony sanitary sewer and watermain <br /> replacement <br /> A breakdown of the project cost is as follows: <br /> CITY COST AS COSTS LE MSA COSTS TOTALS <br /> Street Reconstruction $123,350 1. $41,100 2. $151,900 $316,350 <br /> Sanitary Sewer Replacement $174,050 $2,500 $0 $176,550 <br /> Watermain Replacement $261,900 $0 $0 $261,900 <br /> Storm Sewer Improvements $213,650 $0 $0 $231,650 <br /> TOTALS $772,950 $43,600 $151,900 $968,450 <br /> 1. Of the$316,350 shown for the total street reconstruction costs,only$164,450 is the equivalent to a residential <br /> street reconstruction project. Equivalent residential costs exclude oversized excavation,select granular sub-base, <br /> subgrade drainage system,and street striping. 25%of$164,450 is the assessable amount for street reconstruction <br /> costs for a typical residential street section. <br /> 2. M.S.A.costs are costs associated with constructing the roadway to standards are beyond what a typical <br /> residential street would be constructed to. These costs include oversized excavation,select granular sub-base, <br /> subgrade drainage system,and street striping. <br /> 5 <br />