Agenda - Council - 03/09/2010 - Laserfiche WebLink

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Developer Escrows $ 56,462 MSA $ 444,368 Overlay Assessments $ 210,374 Seal Assessments $ 48,151 City General Fund $ 125,971 TIF $ 205,227 TOTAL $ 1,090,553 Projects 10 -01 and 10 -03 will not be an assessment project since funds for the first sealcoating of newly constructed streets have been escrowed by the project developer for this purpose. Although IP 10 -02 consists of several noncontiguous areas, these streets have a number of similarities that allow them to be considered as a single project. All were constructed during the same period the 1980's, and all were overlaid in 2005. The lot sizes are relatively similar as well. They are proposed to be assessed as a single project in accordance with Assessment Policy No. 1. It is anticipated that the per unit assessment will be $193 in 2010. Project 10 -03 and 10 -07 are comprised of collector MSA streets which experience higher project costs because of their wider pavement and need for striping and pavement markings. In addition, these streets typically have significantly lower assessable densities as a result of the effort made to minimize the number of accesses to these streets. Project 10 -07 will assess fronting properties along these streets the average overlay assessment associated with the 2010 program in accordance with Assessment Policy No 10. The two overlay projects, 10 -04 and 10 -05 have anticipated assessments of $811 and $1,588 per property, respectively. Both overlay projects 10 -06 and 10 -07 have few assessable properties which if assessed according to Policy No 1 would result in a disproportionately large assessment for the type of improvement. For this reason these two projects are proposed to be assessed the average overlay cost associated with the 2010 program in accordance with Policy No 7. The average overlay assessment is estimated to be $939. Notice has been sent to all benefited property owners as required by City Code and Minnesota Statues Chapter 429. In addition a resident meeting on the program will be held on March 4, 2010. Staff will investigate any suggested drainage or other improvements and prepare a program to address them prior to the contract being let for the street work. Following the public hearing, the Council should direct any revisions to the feasibility study it deems necessary as a result of the comments made at the public hearing, as the feasibility study will serve as the basis for determining the work to be performed and the method in which project costs will be financed. Assuming no petitions are received from a majority of the benefited properties opposing the improvement, the Council will be asked to order the projects at the May 11, 2010 City Council meeting. It is anticipated that contracts will be awarded at the June 8, 2010 Council meeting and work will be performed during July and August. Final costs will be presented at the assessment hearing on September 28, 2010. Residents wishing to pay the assessment for the work will have until November 1, 2010 to pay the assessed amount to the City. Afterward the City will certify the assessment to Anoka County to be collected with interest on the property tax statements over the specified number of years (three years for sealcoats and ten years for overlays).