Agenda - Council - 10/14/2008 - Laserfiche WebLink

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ESTI'1Y ATED covs T1 e cstlr"ntrtcti cost of this project lnt:Is estirrta97,990 ,pn x �tal,l�s c�t'the pra,jer�t construction cost toe presc;r�ta.d trr .�pp�ndrB. The project ovorhead, which adds 4n additional 50 % w'1' the conytr�ee;tiara cast i:naltidre the following: w EnginooriltS d0s.lgl 8% + Project acimin.istmtion 5% M Banding and legal «"/c • 'Inspection and testing S"ro * Cantingencics, 10% The above project costs do not include the cast Of driveway paving, Because driveways are private property and not a portion Or the public strcet.each driveway .shall be measured by area and material and will be billed individually to each property. The esti.matcd cast for driveway paving is estimated to be $3,00' per squrare .Epat,' FINANCING Tho total pmject Gusts c:o.nsist of"thc ccanstrucuon ccasts,'px pc�rC;i, and eashavet acgtr.isitirr.e� costs, and the overhead costs Listr d' bcve. 'rho. Pro �cct casts have also been divided bwtwtn'those costs associatcd' with the strr�et imprcverncnts and those rcicatdd to the Improved storm. water systerrr.•.A ccrsts assc�ci'st't�:d with the storm rotator i�"rrprc�vemc'rtts,nc;ludin9' ciraintr c° aril utility eiasements shall be Otnancad tllrO,411 the City's Storm Water, The costs asgociatt:d with the: street improvemcnts sha11 be kinanced one half (501y+) though spacial assessments to the benctrtcd propertic;s adjacent to 'the improved streets consistent, with Minnesota State Statutes 429 and City of Ramsey Code Chapter 4, no remaining 50Qib of the street improvements will be ;kinanccd with City of Rtuxr.sey Seneratl funds revenues, Bu=d upon the above: distribution the total project cost will be funded as follows; $49,7*3 From the City, general fund; $98,544 'ream the. storm water utility', and $49,7'13 from assessments. The assessed portion of the: project cast shall be assessed among the bcn,ckitod 11 properties listed in appendix C. Tho thrce properties having double Frontage with Waco street which wore assosscd :t"rzr its itnprovcmcnt in 1.991 shall be one halt of the t1►•nourat r ssesaed to oub of tho rcarnulrring he.nefrtted properties, The comer lots can 179th 'Lano wor:tld be charged a �Ul s.harc of tho street improvC111011t crests "finis would result in an assc:ssmgnt of $$,:34 por asscssad $h=- Ttae prtrject 4vlll have at f1nal tabultttion made anactUal prc7ject oasts cons.ist4tt with the rmatilodulcagy described in this r+»pcart, A public hOtul rg will be Itcld idcnti.kyinb 'the acrt"' costs to be rocavered by sPeeial assesarnerrt, Property owner would have 'the Option of payir►g tine ;PVll cast of the asse=ssment without interost at the: caonclusion of the prOjeCt Or could elect to have this assesirnont collec:tcd annually with their ta% paym.ont over a tan year poriod, Property owners electing to have the project mast specially assessed shall —154—