Minutes - Council - 06/23/1987 - Laserfiche WebLink

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John Lucia - 14341 Uranium - Inquired if the costs and interest rate quoted in the presentation are final. Mr. Raatikka replied that the costs quoted are estimates; the interest rate that will be used is based on the interest rate at the time the project is approved plus an additional 1.5% for carrying costs. If bids come in more than 10% over estimate, the project must cease according to City Charter. Sue Nomeland - 6219 144th - Inquired as to the life of the pavement and who is responsible for general maintenance and resurfacing. Mr. Raatikka replied that the life of the pavement is 15-20 years; the City performs general maintenance like patching cracks and potholes; sealcoating, which is necessary every 5-6 years, is assessed to the residents of the area. John Lucia - Stated that since October is a poor construction season and it was mentioned that the property owners would be assessed a capitalized interest carrying charge if the project is pushed out until the spring of 1988, consideration should be given to postponing everything until the construction season of 1988. Mr. Raatikka replied that normally, October is not a bad time of the year to pave; past experience is that contractors usually shut down in November. There is not a penalty if the project gets pushed out till the spring of 1988; the bids taken in 1987 would be firm regardless of whether the project is completed this year or next. ADJOURNMENT Motion by Councilmember Sorteberg and seconded by Councilmember Cox to adjourn the public hearing. Motion carried. Voting Yes: Mayor Reimann, Councilmembers Sorteberg, Cox, DeLuca and Pearson. Voting No: None. Sylvia Frolik Secretary The public hearing adjourned at 8:17 p.m. Respectfully submitted, /~ /~/.//J~ David Hartley City Administrator City Council Public Hearing/June 23, 1987 Page 3 of 3