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PW has designed the roadway improvement and will administer construction. The cost <br />of the project is estimated at $450,000. Project costs to benefited residents could go <br />down if the Board elects to waive engineering, survey and contract administration costs. <br />Sixty-six (66) lots are benefited by the RID boundary. Removing lots from the RID <br />increases the cost per lot for all remaining lot owners. <br />FISCAL IMPACTS: <br />The RID is financing the project at an interest rate of 3% <br />The cost per lot for 66 lots is estimated to be approximately $776/year for ten <br />years <br />- The cost per lot for 54 lots (removing the nine upper Wiehl and three lots owned <br />by the only lower Wiehl Road lot owner) drives the cost per lot to approximately <br />$949.50/year for tern years. <br />ATTACHMENTS: <br />Exhibit 1: RID signed petitions <br />Page 2 of 3 <br />PUBLIC WORKS BOARD OF COUNTY COMMISSIONERS WORK SESSION STAFF REPORT <br />