Agenda - Council - 05/23/1995 - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I I TABLE 2 SUMMARY OF PROJECT FINANCING TotallProject Cost City ,Participation Dell~ood Escrow (Parcels 2 and 3) TotallAssessment Unit p~ssessment (Parcels 1, 4, 5 and 6) Anmial Unit Assessment (Beginning May 1997) $35,620 $ 6,444 $ 9,430 $19,746 $ 4,937 $ 930 PROJECT PROI~EDURE AND SCHEDULE This project will be iundertaken and financed through the process which allows municipalities to special assess prope~l'ties for public improvements. This process is governed by Minnesota State Statute 429. In addition, Ramsey City Charter provides that no project which is to be special assessed may be ordered until a period of 60 days has elapsed following the close of the public hearing. The City Charter also provides that if a majority of the benefitted property owners, in this case four properties~ petition against the project, the Council cannot order the project. If no such petition against the ~roject is received, the City Council may at its discretion order the project, which could be anticipated to proceed on the schedule as outlined below: Hold public hearing Initiate project by ordering plans and specifications Approve plans and sl~ecifications and set bid date Receive bids and awed project Begin conslruction Complete construction Hold assessment hearings First payment due with real estate taxes June 14, 1995 August 23, 1995 September 13, 1995 October 11, 1995 Mid October November 1, 1995 December 1995 May 1997