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

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-316- 4 4.50 4.50.01 Ramsey's Financing Policy Streets Subdivision 1. In Existing Platted Areas a. MSA Street Assess the cost of 50% of a typical residential street (normal construction) on a unit method or front foot basis. For the purpose of this paragraph, the cost of a "typical residential street" shall be defined as the cost determined annually based on the construction costs during that year for each type of street constructed to currerlt City Standards. 2... Remainder of cost is paid by MSA. b. Residential Street The total cost of initial street construction shall be specially assessed to benefiting property owners on a unit method or front foot basis. 50% of the cost for reconstruction or overlays on existing bituminous streets shall be specially assessed to the benefiting property, owners. The remaining :50% of this cost shall be paid from the City's General Fund. However, when a previously proposed sealcoating project has been defeated by petition, the benefited property owners shall be assessed 100% of the project cost. The reason for this I00% assessment is because when a sealcoating project has been defeated by petition, this means that the affected street has not received proper maintenance and therefore the cost of reconstruction and/or overlay will be substantially more than il'the street had received sealcoating in a dmety fashion. On MSA streets which provide access to residential lots, 50% of the cost for the reconstruction/overlays for a typical residential street shall be specially assessed to the benefiting property owners with the remaining cost being paid from the MSA maintenance fund. Subd. 2. In New Developments a. Assess total cost on a un.it method Subd. 3. Seal Coating The total cost for the initial sealcoating on City streets shall be specially assessed to the benefited property owners on a front foot or unit basis. 4-15 'i I I I -I I I I I I