Agenda - Council - 02/12/2002 - Laserfiche WebLink

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~'314- 2001 Street Program Financing Fun.ding'.Source .... Seals i Overtgys T,o~tal' MSA Funds &2,680. 246,223 328,903 .City Contribut. i. gns 53,678 95,821 149,'~-99 Assessments 53,678 95,822 149,499 Escrows [7,45 ~. 0 17,451 Total 207,487 .437,866 645,352 In preparing the 2002 program, a major update of the City's street inventory was required. This inventory has a listing of nearly 1,000 individual street segments, each containing information on construction and maintenance h/story. Once the changes have been entered into the data base, a five-year projection of future street maintenance funding needs will be presented to the Committee. This is anticipated for the February 2002 Public Works meeting. Assessment Policy A significant amount of the financing associated with the Street Maintenance Program is obtained through special assessment and a review of the City's assessment policy should be conducted. Attached is a copy of City Code 4.50.01 which contains the assessments policy. Unfortunately, the wording of this section of code is not very clear. For example: Subdivision I. (a) 1. does not specify what cost is being assessed 50%, an overlay or a sealcoat. Subdivision 1 references "existing platted area", Subd. 2. references "new development, Subd. 2. references sealcoating, and Subd.4. maintenance. One might argue an unplatted parcel is not subject to this part of the code. Subdivision 1. (b) 3. refers to MSA street when the section deals with residential streets. It would appear re-Codification of this section of code would be in order. This might be considered to be accomplished before the program is ordered in May, 2002. I have drafted a listing or' the assessment policies that are currently in use. A discussion of formalizing these into a financing policy or modifying them can be made at a later date. Committee Action: The Committee should direct the preparation of a feasibility study for the 2002 Street Maintenance Program. Reviewed by: City Administrator Director of Public Works Finance Officer PW: 01/15/02 I I I '1 I I I I I I I I