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CHESHiRE1CLARKALLEYSUBSIDY PROCEDURE <br />The total amount deducted from the accounts far properties eligible for the subsidy is $3,214.14 This dollar fgure <br />is removed from the amount to be assessed. Before incorporating the cast into the City's share of the project, <br />however, it is necessary to remove the 6°/° finance and administrative fee attributable to this portion of the ! <br />assessable costs. The $3,214.14 is actually x proportionate share of direct and indirect costs to be assessed} + ~ <br />6°/° of x. Therefore, the actual % reduction ~s based on 61106, or 5.66°/Q. This results in $3,214.14 ~ .0566 = <br />$181.92. The remainder, $3, 032.22 is to be charged to the Street Assessment Subsidy Fund. Bath SPA and th j <br />Assessment Worksheet will reflect these final project amounts. The assessment spreadsheet, which generates <br />the amounts to be assessed to each account, will be annotated prior to microfilming to reflect the changes made <br />due to the subsidy program. <br />1l 03 30 32 OOfi00 <br />Improvement Improvement <br />Tempe Descri~ion <br />Alley FF Alley Paving, Frontage <br />Alley SF Alley Paving, by Area <br />TOTAL <br />Total Reduction <br />Backing out 5.fifi°/a Finance and Administration Fee <br />Total Cost to Subsidy Fund <br />Improvement Subsidy:: Subsidy : Net Improvement <br />Amount % ``Amount ~ Amount Asses$ed <br />$2,689.$0 0.667 $1;193:20 $896.60 <br />$2,131.41 0.661 $ ~ ,42.94 $7 ~ 0.47 <br />$4,821.21 $1,601.01 <br /> $3~14.~4 <br /> $181.92 <br /> $3,032.22 <br />0210~1~4 SUBCHESH.111lK4 <br />