Agenda - Council - 04/12/2005 - Laserfiche WebLink

Home

conveyed to the wetland which is located south of 164th Lane and east of Sapphire Street. Figure 2 illustrates the proposed drainage patterns including curblines, spillways, ditches an'~t culverts. It should be noted that 16421 Sapphire street has a mound septic system which is located at least partially within the ri~=ht of way of Sapphire Street. The proposed drainage plan eliminates the need for a ditch section past this location to avoid conflict with this system. This project does not anticipate the connection of private driveways to the new bituminous roadway. The cost of this connection, if desired, will be the responsibility of the individual property owners. Where it is necessary to remove existed driveways for the installation of culverts or to accommodate a transition to the new roadway, such driveways shall be neatly saw cut and replaced with like material as a portion of the project cost. Disturbed turfed areas shall be restored with fertilizer, seed and mulch. ESTIMATED COSTS Tim estimated costs of this project are detailed in Appendix B. In addition to the estimated construction costs an additional 25% has been included to cover the overhead cost associated with this project. These costs include; engineering desig'n 8%; project administration 5%; bonding and legal 2%; inspection and testing 5%; and 5% for contingencies. FINANCING It is proposed to finance one half (50%) of the total project cost, $70,507 though special assessments to the benefited properties adjacent to the improved streets consistent with Minnesota State Statutes 429 and City of Ramsey Code Chapter 4. The remaining 50%, or $70,507 of the project will be financed with City of Ramsey general tax funds. The assessed portion of the project cost shall be equally assessed among the benefited 19 properties listed in Appendix C. This would result in an assessment of$3,711 per property. If a property owner would elect to have this assessment collected over a ten year period at an estimated interest rate of 6.5%, annual payments would'range fi:om $675 to $395 over this ten year period. It should be noted that five of the 19 properties are owned by two property owners and their assessments would be multiples of the above values. The project will have a final tabulation made on actual project costs consistent with the methodology described in this report. A public hearing will be held identifying the actual costs to be recovered by special assessment. Each property may, at any time prior to certification of the assessment to the County Auditor, pay the whole of the assessment on such property, with interest, except that no interest shall be charged if the entire assessment is paid within 30 days from the adoption of the assessment resolution. Special assessments reported to Anoka County shall be payable over a ten year period with interest at a rate of two percent (2%) above the U.S. Treasury rate at-the time of the special assessment heating. .. -3-