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5.2 Funding <br />5.2.1 Assessments <br />A portion of the project costs is proposed to be recovered through special assessments <br />levied against the 12 identified benefiting properties; 8 along Garnet Street and 4 along <br />168th Avenue. Assessments are proposed to be collected for eligible improvements <br />benefiting residential properties with direct access to the improved segments of Garnet <br />Street and 168th Avenue as described below. A preliminary assessment summary is <br />included below in Table 3. <br />Residential Assessments <br />Residential assessments are proposed to be levied against residential properties having <br />direct access to both improved streets. To be consistent with the newly adopted Special <br />Assessments Policy, each residential property is proposed to be assessed using the "per <br />lot" method as allowed for in the recently adopted Special Assessments Policy. <br />Assessments are not levied for public utilities improvements. These costs are paid 100% <br />through the City's sewer and water utility funds. <br />Single-family residential property owners are preliminarily proposed to be assessed at the <br />rate of $6,500 per lot. However, since special assessments have not been utilized widely <br />for street reconstruction projects in Ramsey, and since State Statute and the City Charter <br />does not allow for assessments to exceed the benefit to the property, staff wants to ensure <br />that the assessment used with this project will not exceed the benefit to the assessed <br />properties. Staff is therefore requesting Council authorization to order a benefit appraisal <br />consultation for this project in accordance with the City's Special Assessments Policy. <br />The Preliminary Assessment Map and Roll are included in Appendix C. <br />Sewer and Water Service Assessments <br />No assessments are currently proposed for sewer or water services. However, if any <br />property owners request to connect to City sewer and/or water with this project they can <br />request that these costs be assessed. <br />TABLE 3 <br />Preliminary Assessments — Garnet Street and 168th Avenue <br />TYPICAL ASSESSMENT <br />RATE <br />NO. OF <br />LOTS <br />TOTAL <br />Garnet Street Residential Assessment <br />$6,500/Lot <br />8 <br />168th Avenue Residential Assessment <br />$6,500/Lot <br />4 <br />$52,000 <br />$26,000 <br />TOTAL PROJECT ASSESSMENTS <br />$78,000.00 <br />Feasibility Report <br />Garnet Street and l681" Avenue Reconstruction <br />City of Ramsey Project No. 13-10 <br />Page 16 <br />