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

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Observations: Preparing a Feasibility Report for the proposed improvements will allow staff to refine estimated project costs and develop a proposed funding program, and allows for the use of special assessments against benefiting properties as a partial funding source. The Feasibility Report will explore numerous aspects of the proposed improvements including whether they are feasible and necessary, whether they are cost-effective, and whether they should be completed alone or in conjunction with other improvements. Estimated costs will be explored in greater detail than was used to estimate 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 business and property owners of Hy-10 Ramsey 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 #17-07-170 ordering a Feasibility Report for Improvement Project #18-02, Hy-10 Ramsey Street Reconstructions. Alternative #2 — Motion to deny adoption of Resolution #17-07-170 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. 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 #17-07-170 ordering a Feasibility Report for Improvement Project #18-02, Hy-10 Ramsey Street Reconstructions. Resolution 1707170 Street Map Figure Attachments Form Review Inbox Reviewed By Date