Agenda - Council - 02/08/2000 - Laserfiche WebLink

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I I I I I In addition to construction cost, Table 3 indicates overhead charges of twenty-two percent (22%), which will be applied to cover the following services: Engineering and Inspection City StaffAdministration Bonding and Legal Pavement Management Fund Contingencies 10% 5% 2% 2% 3% FINANCING It is the City's policy to assess property owners fifty percent (50%) of the total project cost of the improvements for projects associated with the annual street maintenance program. Properties are assessed equally regardless of front footages or property size, since comer lots and cul-de-sac lots, which are common within the City, would receive widely disparate assessments. Since projects are generally classified by subdivision which have similar characteristics and lot sizes, it is felt that there is a fair apportionment of project costs when assessed equally within the individual subdivisions. Past practice has been to classify individual projects by subdivision, since individual lots within the subdivi~i6h generally have similiar characteristics and lot sizes. The costs contained within this report are estimated costs. The projects will have a final tabulation made on actual project costs consistent with the methodology described in this report. A public hearing will be held identifying the actual costs to be recovered by special assessment. Each property may, at any time prior to certification of the assessment to the County Auditor, pay the whole of the assessment on such property, with interest, except that no interest shall be charged if the entire assessment is paid within 30 days from the adoption of the assessment resolution. Special assessments reported to Anoka County shall be payable over a ten-year period for bituminous overlaying projects, with interest at a rate of two percent (2%) above the U.S. Treasury rate at the time of the special assessment hearing. PROJECTED PROJECT SCHEDULE In proceeding with the improvements, the following schedule could be anticipated: Receive feasibility study and set date for public hearing ....................................... January 11, 2000 Hold public hearing (60-day comment period follows) ......................................... February 8, 2000 Authorize projects and order plans and specifications ............................................... April 11, 2000 Approve plans and specifications and set the bid dates (3-week advertisement) ...... April 11, 2000 Receive bids and award contracts ................................................................................. May 9, 2000 Perform work ....................................................................................................... June-August 2000 Set date for assessment public hearing (minimum 2-week notice) ......................... August 22, 2000 Hold assessment hearing ................................................................................... September 26, 2000 First payment due with tax statement ............................................................................... May 2001