Agenda - Council - 02/24/2009 - Laserfiche WebLink

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• Project administration 5~/0 • Bonding and legal 2% • Inspection and tasting Sp~/a • Contingencies. 10°/u The above project costs do not include the cost of paving existing unpaved driveways. Such driveways are private property and not a portion of the public street, Each unpaved driveway shall have its bituminous apron measured by area and will bebilled-additionally to the property, The estimated cast For driveway paving is estimated to be $3,00 per square foot.. FINANCING The total project costs consist of the construction costs and project overhead costs which are detailed in Appendix B; Funding sources for this project include City Municipal State Aid funds (VISA), storm water utility funds, and special assessment to benefitted properties, The casts associated with. the replacement of the road shall be funded with MSA monies. The cast associated with concrete curb and gutter will be funded 2S% from the storm water utility with the remaining 7S°..t4 frot~n-MSA funds, These costs also include associated work elements including irrigation repair, and landscaping restoration costs. The ston~i sewer repairs and extensions will be funded entirely from the storm water utility. The sidewalk will be funded through MSA funds should the Council decide to award the alternate project, Property owners will contribute the equivalent cost of a bitwninous overlay on the road which. is estimated to cost $1,700 per unit at unit prices anticipated during the 2009 construction season. Based upon the above distribution the total project cost will be funded as follows; MSA / Storm Water- Property Total City Utility ~Dwners Basic Project Cost $ 1,233,539 $ 925,953 $ 193,686 $ 11,3,900 ' Alternate Project Cost $ 1,591,233 $1,283,647 $ 193,686 $ 113,900 The project will have a final tabulation mach on actual praject casts, A public hearing will beheld iderttifying tho actual casts to be recovered by special assessment which tzaay change depending on the actual bituir~inous overlay cost e;+~perienced during the 2009 construction season. Property owners. would have the option of paying the full cost of the assessment without interest at the conclusion of the praject or could elect tb have this assessment collected annually with. their tax payment. Property owners electing to have the praject cast specially assessed shall have their cost reported to Anoka County and collected over a period of up to ten years with interest at a rate of two percent (2%) above the U.S. Treasury rate at the time. of the special assessment hearing. At an estimated -114- ...~,~..~...~..,._.,.~....~...,.w._.~,....,~._,..~....,...,_.~,....~..~ Pale 4 .~.,,.~_„