Agenda - Council - 11/14/2017 - Laserfiche WebLink

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City staff prepared the Feasibility Report in-house as part of staff's normal duties. WSB and Associates, Inc. prepared a Pavement Evaluations and Recommendations report at a not -to -exceed cost of $3,290. The engineer's opinion of probable project costs is $301,738.31. A total of 44 residential parcels will benefit from the proposed improvements and are preliminarily proposed to be assessed for 25-percent of eligible project costs, which totals $75,434.58. This equates to preliminary assessments of $1,714.42 per parcel. The City will fund the remaining 75% of project costs, which totals $226,303.73. These costs will be paid by Street Reconstruction and Overlay Program bond funds, as well as a small amount of Stormwater Utility Funds. Assessments are proposed to be assessed over a term of ten years, with interest rates proposed at two percent above the bond interest rate. Staff proposes to request Council authorization to order a benefit appraisal consultation for this project in accordance with the City's Special Assessments Policy at the time Council awards a construction contract. Recommendation: Staff recommends Alternative #1 to allow the project to be constructed as part of the 2018 Street Maintenance Program, and to allow for the use of special assessments to pay for a portion of the project costs per the applicable provisions of Chapter 8 of the City Charter, the City's Special Assessments Policy, and Minnesota Statute Chapter 429. Action: Motion to adopt Resolution #17-11-284 approving updated Feasibility Report and ordering Plans and Specifications for Improvement Project #17-02, River's Bend Street Reconstructions. Attachments Resolution 1711284 Updated Feas Report 1702 PH Notice Spec Assessment Policy MN Statute Ch429 City Charter Chapter 8 Form Review Inbox Reviewed By Date Kurt Ulrich Kurt Ulrich 11/09/2017 11:41 AM Form Started By: Bruce Westby Started On: 11/06/2017 03:26 PM Final Approval Date: 11/09/2017