Agenda - Council - 07/11/2017 - Laserfiche WebLink

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costs for the CIP. A more detailed project funding program will also be explored, including a description of the methodology used to calculate individual special assessments for benefiting parcels. A proposed project schedule will also be explored in greater detail. While preparing the Feasibility Report, Staff will conduct a public information meeting with the residents of North Forty to explain the need for the proposed improvements, the scope of the improvements, estimated costs, proposed funding program, and proposed schedule. Staff anticipates requesting Council acceptance of the Feasibility Report this September to allow the project to proceed in a timely manner with construction beginning in the spring of 2018. This will also provide for compliance with all applicable provisions of the City Charter, the City's Special Assessments Policy, and Minnesota Statute Chapter 429. Alternatives: Alternative #1 — Motion to adopt Resolution #17-07-169 ordering a Feasibility Report for Improvement Project #18-01, North Forty Street Reconstructions. Alternative #2 — Motion to deny adoption of Resolution #17-07-169 at this time. Funding Source: The Feasibility Report will be completed in-house as part of Staff's regular duties. No additional expenditures are anticipated. The current Capital Improvement Plan (CIP) estimates costs for reconstructing these streets at $900,000. Estimated project costs and funding sources will be further refined during preparation of the Feasibility Report. Based on 2013 cost estimates, the City of Ramsey is funding approximately $11,000,000 for Street Maintenance Program costs over the 5-year period from 2015 to 2019. This equates to an average annual expenditure of $2,200,000 to fund all sealcoat, mill and overlay, and street reconstruction projects. The City currently budgets $500,000 annually for sealcoat projects, leaving $1,700,000 to fund mill and overlay and street reconstruction projects. Per the adopted Special Assessments Policy, special assessments may fund up to 25% of mill and overlay and street reconstruction projects. Staff therefore proposes to use street reconstruction and overlay bonds to pay for project costs initially, after which up to 25% will be paid back over time using special assessment proceeds. Recommendation: Staff recommends Alternative # 1. Action: Motion to adopt Resolution #17-07-169 ordering a Feasibility Report for Improvement Project #18-01, North Forty Street Reconstructions. Resolution 1707169 Street Map Figure CIP Project Sheet Attachments Form Review Inbox Reviewed By Date Kurt Ulrich Kurt Ulrich 07/06/2017 11:42 AM Form Started By: Bruce Westby Started On: 07/03/2017 08:57 AM Final Approval Date: 07/06/2017