Description	Amount
EXPENSES
Construction (Sanitary sewer, private drain connections, pavement and boulevard restoration and contingency)	$1,153,000
Watermain Construction (EnWin – Water)	$1,250,000
Engineering and Project Administration (15%)	$172,950
Miscellaneous (survey, drafting, geotechnical investigation, inspection, non-recoverable HST)	$146,418
Total Expenses	$2,722,368
REVENUES
Construction Cost Recoveries from EnWin - Water	$1,250,000
Administration & Restoration Fees (EnWin – Water)	$87,500
Property Assessment – Local Improvement Roll	$779,360
Total Revenue	$2,116,860
TOTAL NET CITY COST	$605,508

The Local Improvement Sanitary Sewer Project (ID# 7159000) is currently in a surplus position with sufficient funds to fund this project.

Local Improvement on Private Property – Septic Changeover

There is no required funding source as it relates to the private local improvement. At the time that the homeowners completes the required works, the City would be required to pay the contractor from the City’s working capital. A corresponding long-term loan would be set up from the property owner which would decline each year until such time as the full cost, inclusive of interest is repaid. Should all properties consent to participating in the private local improvement, approximately $1M in additional funding would be required for this purpose. The City current has sufficient working capital to fund the estimated loan in full however should City Council extend the terms to other projects, the amount could initially be considered significant.

Consultations:

Legal Department - Wira Vendrasco

Finance Department - Janice Guthrie, Carrie McCrindle, Melissa Osborne