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Storm water funds will fund all storm sewer project costs. <br />Project costs, which include construction costs plus 14% indirect costs for administrative, engineering, finance and <br />legal fees, total $620,416.34. Of this amount, $585,705.26 are eligible for special assessments. Final project costs <br />will be funded using the following funding sources in the estimated amounts shown: <br />• Special assessments = $146,426.31 <br />• Street overlay bond funds = $460,974.83 <br />• Stormwater utility funds = $13,015.20 <br />A special benefit consultation report will be ordered for this project to ensure special assessment amounts do not <br />exceed property benefit amounts. <br />Recommendation: <br />City staff recommends Alternative # 1. <br />Action: <br />Adopt Resolution # 18-081 accepting bids and awarding a construction contract for 2018 Street Overlay <br />Improvements, Improvement Project #18-03. <br />Resolution 18-081 <br />5 Year SROP Plan <br />CIP Sheet 2018 Overlays <br />18-03 Plans <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 05/03/2018 03:41 PM <br />Form Started By: Bruce Westby Started On: 04/05/2018 04:23 PM <br />Final Approval Date: 05/03/2018 <br />