Agenda - Council - 10/24/2017 - Laserfiche WebLink

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Alternatives: Alternative #1 — Motion to adopt Resolution #17-10-271 accepting the Feasibility Report and ordering a Public Hearing on November 14, 2017, for Improvement Project #18-00, Stanhope Terrace Street Reconstructions. Alternative #2 — Motion to deny adoption of Resolution #17-10-271 at this time. Funding Source: The Feasibility Report was completed in-house as part of Staff's regular duties. The current Capital Improvement Plan (CIP) estimates costs for reconstructing these streets at $850,000. Per the attached Feasibility Report, the engineer's opinion of probable project costs is $430,934.81. A total of 16 residential parcels will benefit from the proposed improvements and are preliminarily proposed to be assessed for 25-percent of eligible project costs which totals $107,733.70. This equates to preliminary assessments of $6,733.36 per parcel. The City will fund the remaining 75-percent of project costs, which totals $323,201.11. The City's costs will be funded using Street Reconstruction and Overlay Program bond funds, as well as a small amount of Stormwater Utility Funds. 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 the City Charter, the City's Special Assessments Policy, and Minnesota Statute, Chapter 429. Action: Motion to adopt Resolution #17-10-271 accepting the Feasibility Report and ordering a Public Hearing on November 14, 2017, for Improvement Project #18-00, Stanhope Terrace Street Reconstructions. Resolution 1710271 City Charter Chapter 8 MN Statute Chapter 429 CIP sheet Feas Report 18-00 Stanhope Terrace Attachments Form Review Inbox Reviewed By Date Kurt Ulrich Kurt Ulrich 10/19/2017 04:11 PM Form Started By: Bruce Westby Started On: 10/17/2017 08:11 AM Final Approval Date: 10/19/2017