Appropriating $36,000.00 Cumulative Sewer Building and Sinking Fund

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Page 2 October 27, 1971 Memo to: Board of Public Works and Safety The estimated construction cost was $25,060. 80% of the construction cost amounts to $20,048. The City employed Jack Harris to appraise the property -- this report was filed with the Engineer September 27, 1971 and indicated a value of $8500 per acre. The amount of land in question is 1.84 acres and based on the above price would amount to $15,640. If the City bears 80% of this cost, the City's share would be $12,512. Total project cost would be as follows: City share of construction cost - - - - - $20,048.00 City share of land cost - - - - - - - 12,512.00 Appraisal Fee - - - - - - - - - - - - - 105.00 Contingency - - - - - - - - - - - - - - - 3,335.00 $36,000.00 The above figures have been accepted by the developer as stipulated i in the Memorandum of Agreement between the Board and the Developer dated October 26, 1971. The Engineering Department hereby requests the preparation of an ordinance to the City Council appropriating from the Cumulative Sewer Building and Sinking Fund $36,000.00 for this project. The Engineering Department believes this project is necessary for the health, welfare and safety of the citizens and taxpayers of the City of South Bend, and that the project will be of public use and benefit. Subject to the availability of appropriated funds we recommend the acquisition of the necessary land by purchase, gift or condemnation. ArIPPROVED SO U119 OF PUBIC WORKS & SAFETY LST:td cc: Jame: S. J. Crumpacker to Taylor C i Engineer I