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