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A total of 59 residential parcels will benefit from the proposed improvements and are preliminarily proposed to be <br />assessed for 25-percent of eligible project costs which totals $76,918.30. Subgrade correction costs are not eligible <br />for assessments and are paid 100% by the City. This equates to preliminary assessments of $1,303.70 per parcel. <br />The City will fund the remaining project costs, which totals $295,318.22. The City's costs will be funded using <br />Street Reconstruction and Overlay Program bond funds, as well as a small amount of Stormwater Utility Funds. <br />Recommendation: <br />Staff recommends Alternative # 1. This will allow the project to be constructed as part of the 2019 Street <br />Maintenance Program, and will allow for the use of special assessments to pay for a portion of the project costs per <br />the applicable provisions of the City Charter, the City's Special Assessments Policy, and Minnesota Statute, <br />Chapter 429. <br />Action: <br />Motion to adopt Resolution # 18-221 accepting the Feasibility Report and ordering a Public Hearing for November <br />13, 2018, for Improvement Project #19-03, Wood Pond Hills and Chestnut Ridge Street Reconstructions. <br />Resolution 18-221 <br />MSS Chap 429 <br />Charter Chap 8 <br />Spec Assessments Policy <br />5 Yr SROP <br />IP1903 Feasibility Report <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 10/18/2018 04:49 PM <br />Form Started By: Bruce Westby Started On: 10/16/2018 08:39 AM <br />Final Approval Date: 10/18/2018 <br />