Agenda - Council - 02/23/1993 - Laserfiche WebLink

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TABLE ESTIMATED PROJECT g92-23 Bituminous Paving Class V Base Course Shaping and Grading Bituminous Removal Culverts Tuff Restoration 375 tons @ $25/ton 620 tons @ $6/ton Lump Sum 700 Sq. Yd. @ .50/Yd. 6 each @ $300 each .75 acres @ $1,500/acre Estimated Construction Cost Overhead Costs @ 30% Construction Cost COSTS $9,375 3,720 6,000 350 1,800 $22,370 6,711 Total Project Cost $29,081 FINANCING PROJECT g92.20 Exhibit A identifies seven properties which will receive direct benefit from this project. Parcels 2, 4, and 7 contain existing residences which have their vehicular access onto Bison Sweet N.W., either directly or by easement. Parcels 1 and 3 currently have no habitable residences, but are buildable lots which can obtain building permits without further subdivision. Parcels 5 and 6 are comer lots of the Dellwood Hills subdivision having frontage on both 171st Avenue N.W. and Bison Street N.W. When Dellwood Hills was planed, the Development Agreement acknowledged a partial responsibility toward the paving of Bison Street N.W. An escrow of $9,434 was placed on deposit with the City which represented the estimated fair share of two buildable lots. It is proposed that all seven of these benefitted lots be assessed equally regardless of individual front footages or value of improvements or individual lots, as this has been past City policy on previous paving projects. However, the $9,434 escrow posted by the developers of Dellwood Hills will be applied equally against the assessments due to parcels 5 and 6. If the project should proceed to the stage where the City Council authorizes plans to be prepared and bids to be solicited as required by law, the City Council may award the construction to the lowest responsible bidder, providing that bid does not exceed 110% of the construction cost estimates contained herein. After the project has been completed and final costs are known, the public hearing will be held which will identify the actual costs to be recovered by special assessment. Each property may, at any time prior to certification of the assessment to the County Auditor, pay the whole of the assessment on such property, with interest, except that no interest shall be charged ff the entire assessment is paid within thirty (30) days from the adoption of the resolution. Special assessments reported to Anoka County shall be payable over a ten year period with interest at a rate of 1.5% above prime rate at the time of the special assessment hearing. This rate is estimated to be 8%. The costs presented in this report are estimates. Table 3 presents a project financing summary as it would affect individual properties.