Agenda - Council - 02/24/2015 - Laserfiche WebLink

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Alternative Action #2 — Motion to adopt Resolution #15-02-049 Ordering Cooperative Agreement for Jarvis Street Reconstruction and Railroad Crossing Quiet Zone Improvements; IP #15-20, with the following modifications to the proposed design: Alternative Action #3 — Motion to deny adoption of Resolution #15-02-049 at this time. Funding Source: The Feasibility Report was completed in-house as part of staff's regular duties. Based on Elk River's estimated cost -share information, the City of Ramsey's share of the project costs totals $920,305.50, though this number may change slightly based on staff's continued discussions of the project with Elk River, their consultant, and the LRRWMO. This estimated cost accounts for 50% of the costs for reconstructing the shared segment of Jarvis Street and the required railroad crossing quiet zone improvements. The City of Elk River is agreeable to paying the City of Ramsey's share of the costs up -front with an interest-free payback period of 3 -years for calendar years 2016, 2017, and 2018. Elk River's estimated costs include 10% contingency costs plus 10% indirect costs for administrative, engineering and legal costs. No costs are proposed for temporary easements. This improvement project, which is listed in the City's current 5 -year Capital Improvement Plan, is proposed to be funded using a mix of Public Improvement Revolving (PIR) funds, special assessments, and stormwater utility funds. Preliminary special assessments are proposed in the Feasibility Report in the amount of $4,500 per lot. This totals $45,000 for the 10 single-family residential properties having direct access to the shared segment of Jarvis Street. This amount is $2,000 per lot less than the assessments proposed for the Garnet Street and 168th Avenue Reconstruction project given that only half of Jarvis Street is in the City of Ramsey, and since no utilities are proposed with this project. The table below shows the estimated project costs and funding sources per improvement category. Surface/Street Storm Sewer Quiet Zone Improvements TOTALS Assessments $45,000 $45,000 City Funds Total $549,335 $594,335 $85,945 $85,945 $240,025 $240,025 $875,305 $920,305 Staff will present more detailed information on project costs, financing and assessments during the hearing, including 5 and 10 year assessment payoff amounts. Recommendation: Staff recommends Alternative Action #1, and would support Alternative Action #2 if Council wishes to make minor modifications to the project. Staff does not recommend Alternative Action #3 due to the need to reconstruct Jarvis Street and the beneficial timing of the project if completed in 2015. Action: Approve or deny adoption of Resolution #15-02-049 Ordering Cooperative Agreement for Jarvis Street Reconstruction and Railroad Crossing Quiet Zone Improvements; IP #15-20.