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M <br />ESTIMATED ASSESSMENT APPROACH <br />Costs for the project are divided between benefited property owners and the City using policies <br />established in the City of Pequot Lakes' "Assessment Procedures and Policy ", adopted <br />February 7, 2006, including amendments made to the policy since that time. <br />Per this policy, 100% of the roadway improvement project costs for this project are assessed to <br />the abutting benefited property owners on a per front foot basis. <br />Following is an example roadway assessment calculation utilizing the City's present per front <br />foot policy: <br />Estimated Cost of Roadway Improvements ........................ ............................... $ 194,000 <br />TotalFront Footage ......................................... ............................... ..........................4,250 <br />(Note that this estimated front footage does not include the two side <br />lots off of North Sluetter Road or a side lot west of the loop, but it does <br />include the Outlot east of the five lots along North Sluetter Road. If the <br />project would proceed, clarification would be needed on if and how to <br />include such footage.) <br />Estimated Assessment Amount per Front Foot ........................... ............................... $ 46 <br />Alternately, an example of a "per residence" calculation would be: <br />Estimated Cost of Roadway Improvements ........................ ............................... $ 194,000 <br />Number of Existing Residences ......................................................... ..............................8 <br />Estimated Assessment Amount per Front Foot .................... ............................... $ 24,250 <br />NOTE: This example / residence count does not include the two side <br />lots off of North Sluetter Road, the Outlot east of the five lots along <br />North Sluetter Road, or the six undeveloped lots; all of which have <br />access to the roadway. If the project would proceed, clarification <br />would be needed on if and how these lots would pay for the benefit of <br />a paved road. <br />NOTE that estimated project costs are given. Actual costs can only be determined after the <br />project has been final designed, bid, and constructed. <br />Pequot Lakes —Wildlife Trail Improvements Study <br />WSN No. 013060044.000 Page 10 <br />