Agenda - Council - 02/14/1995 - Laserfiche WebLink

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' LPM - Policy t~8-B " ~ I Page6 10. ASS~MENT POLICIF-.~ i~ 10.01 ~=~=~ ~e le~ for road~y improvemen~ ~c a~ent ~ ~ ~=lat~ in ac~rd=~ ~ ~e fo~fl~ set foah in the s~ion on ~ment Fomfl~ u~g eider the adjusted ~ont foot meth~ ~ ~r 1~ ~it meth~. ~ adjust~ front f~ me.od ~ ~ meal for a~ment p~ges ~em~e ~r lot/~t me.od h r~u~ted by ~ifion by ~ l~a 55% of 6e ms.ed prope~ o~ers and/g it ~ dae~M ~at the aff~ 1o~ ha~ re~iv~ equil benefim. ~e Ci~ Coun~ sh~ have fm~ ~ofi~ on ~ ~ of fomfla to ~ us~. I I i I I I I. 10.02 10.03 10.04 10,05 10.06 I I I I The t~al project cost for streets constructed or reconstructed in any given project shall be equal to the actual!constru .ctlon cost, plus associated costs such as legal, bonds, administrative and engineering. WhenCe city CONSTRUCTS A NEW LOCAL OR MAJOR STILEET, 100% of the total project cost, indud,lng all utilities, will be recovered by assessing the beuefitting property for actual benefit received. A new s~eet shall be defined as a roadway including curb and gutter which had not previously existed. When~the dry RECONSTRUCTS AN EXISTING LOCAL OR MAJOR STREET, 70% of the total projee4 cost will be recovered by assessing the benefitting property for benefit received. The remaining 30% shall be absorbed by the city. A reconstructed street shall be defined as a roadway which existed prevlo[tsly. The addition oI~ curb and gutter when it did not previously exist is still considered recondtructiom I I I i 10.07 10.08 When 'the city CONSTRUCTS OR RECONSTRUCTS AN AIJ.~Y, 80% of the total project cost will be recovered by assessing the bene.fitting property for benefit received. The remaining 20% shall be absorbed by the city. When major street construction or reconstruction is partially financed by State Aid Funds to improve the deslguiand capacity, the adjoining properties will be charged an assessment based on the cost of an averag~ street construction. The remainder to be paid by State Aid Funds or General Funds. The fdllowing assessment policies will apply for existing single family property when a major street is improved: 1. li~xisfing assessed Street as 2. Fad'sting nss~ssed single family residential property abutting tWo or four lane divided median roads will be using the adjusted front footage method, based on 1/4 of the cost of a standard local if built at the time of the assessment. single family residential property abutting two or four lane uhdivlded roads will be using the adjusted front footage method, based on 1/2 of the cost of a standard local if built at the time of the assessment. Lots w,ifich are split subsequent to a roadway improvement project shall be assessed as if in existence at the fimj: the assessment was adopted, using the formula us~ at the time of assessment plus interest as per current City pollcy from date of assessment. ! I I I '1 I I I I I Post-It" brand fax transmittal memo 7671 I # o~ p~ ~ 4' CO. CO. ~pL ' ~ ~ I I I