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Assuming that the land between 23rd Avenue and 35th Avenue and 4th <br />Street and 28th Street is the sole beneficiary of this expenditure, the <br />proportionate share of cost per building site is shown below. The total <br />area involved is 1600 acres. With a proper allowance for streets, parks, <br />and public rights -of -way, an average of three building lots per acre can be <br />developed on this land, or 4800 building lots. Prorating the total cost of <br />the improvement over the total number of potential building sites results in <br />the following cost: <br />$775.000 00 Lots $161.45 /Lot <br />Improved lots in this area have been selling for $2,500 or more, and <br />there is no reason to expect this price to drop.. Assuming a $2,500 lot <br />price, the cost of the proposed drainage improvements is only($161.45/$2,500) <br />6k% of'the value of the improved lot. <br />- 20 - <br />