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<br />sources have also been suggested along with the assessment impact for each element to assist in <br />determining possible financing scenarios. The table below has been prepared anticipating 25% <br />project overhead costs and assumes 68 units will be assessed. <br /> <br />Project Element <br /> <br />Possible Funding <br />Sources <br /> <br />Total Project <br />Cost <br /> <br />100% <br />Assessed <br /> <br />50% <br />Assessed <br /> <br />25% <br />Assessed <br /> <br /> MSA, City, <br />Cone. Curb & Gutter Assessments $ 317,863 $ 4,674 $ 2,337 $ 1,169 <br /> MSA, City, <br />Reconstruct Street Assessments $ 578,956 $ 8,514 $ 4,257 $ 2,129 <br />Sidewalk MSA $ 315,964 <br />Storm Sewer Storm Water Utility $ 59,631 <br /> <br />Schedule: <br /> <br />Bids for the 2008 Street Program are to be awarded at the June 10th City Council meeting and <br />work is anticipated to begin after July 1 and will be completed by the end of July. Staff feels that <br />this year's work will be very competitive and that the alternate bid received for the bituminous <br />overlay for IP 08-06 will likely be the same as the base prices for the other overlay projects. <br />However, to accomplish the work during this construction season the alternate bid award should <br />be made before September 9,2008 City Council meeting. <br /> <br />Action: <br /> <br />Staff has been directed to prepare a feasibility study outlining the scope, costs and financing <br />associated with an alternate project to IP 08-06. Direction should be provided on identifying <br />benefitted parcels and suggested financing options. Consideration should also be given to a <br />schedule for public involvement for this process with the goal of having a decision rendered no <br />later than the September 9th Council meeting. <br /> <br />Reviewed By: <br />Director of Public Works/Principal City Engineer <br /> <br />PW: OS/20/08 <br /> <br />12 <br />