Agenda - Council - 03/28/1983 - Special

Home

! I I '1 I I I i I I I I ! I I I I I STREETS: CITY/LOCAL/DISTRIBUTOR/COLLECTOR Street costs are apportioned to the property benefiting from the street construction. Apportioning the cost of the street construction may be done by dividing the cost of the street improvements by the assessable front footage of the benefiting properties or by dividing the costs of the street improvements by the number of benefiting lots. STREETS: M.S.A./COUNTYROADS Properties along M.S.A. streets and county roads will be assessed for street improvements in an amount equal to one hundred percent (100%) of the cost of a typical street related to the land use, i.e., residential, commercial and industrial. The typical street cost ~ncludes the construction cost plus one hundred percent (100%) of the- right-of-way acquisition costs. The remaining cost will be paid from the M.S.A. construction fund. For the purpose~of this paragraph, the cost of a "typical residential street" shall be defined as the cost determined annually based on the construction costs during that year for each type of street constructed to current City standards. Properties with various physical abilities to support development will have the typical street cost adjusted by the benefit factor. Benefit factor~ for various types of land: marsh, wildlife, recharge, ponding -BF=0. Peaty, low farm land -BF = 0.25. Restricted due to soils or flooding but allowing scattered development. BF = 0.25-0.75. Developable for residential/commercial and industrial BF = 1.0. 3. Properties along M.S.A. streets and county roads will be credited for previous street assessments, if any. Property previously assessed for a permanent street will be given full credit and will not be assessed for the M.S.A. project being assessed. ~ be Property previously assessed for a partial street will .be given credit for the amount previously paid converted to current dollar value by the ENR Index. c. If at a later date a lot or parcel is split or subdivided, each new lot will be assessed a unit cost/adjusted. Formula for assessing typical street cost as part of a M.S.A. s~reet project: (typical street cost) x (benefit factor) - (previous assessments/ current value) = amount to be assessed for typical street. M.S.A. Street/County Road Cost Apportionment Formula: Total cost of improvement - amount to be assessed for typical street = M.S.A. Construction Fund Obligation.