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

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need ro be adjusted to balance of' amount of' earthwork associated this the new section and gad. es. The southern terminus of the roadway shall be provided with a 70 foot diameter cttl de sac. This is approximately I0 feet wider than the existing dirt cut de sac. It will be necessary to install a storm culvert alond TH 47 to maintain the drainge fi.om the highway. Apermit from MnDOT Will be required for this aspect of the project as well as ail work within their right of way. Existing driveways shall be neatly cut and repaved with ilke mater/al. Disturbed turfed are~ on the east side of the roadway shall be restored with four inches'of topsoil and be seeded with a highway turf mixture. Disturbed areas on the west side of the roadway shall be restored with 4 inches of'topsoil .and sod. At the time of this writing i.t is anticipated that a development proposing the extension of sewer and water services to property on the east side of TH 47 Mil cause construction impacts to this project area. Ln the event such a project materializes 'the above described improvements may be altered to include sanitary sewer, .watermain storm sewer and concrete curb and gutter. . E'STI~LATED COSTS An estimate of the costs described in'the section above [s. detailed [ri Appendix C. 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; 'en~neering design 8%; project administration 5%; bonding and legal 2%; inspection and testing 5%; and 5% for contingencies. Should this project be modified in scope as a result 0fsewer and water construction, the above costs will need to be appropriately modified to reflect these additional improvements. However, it is proposed that the cost to the benefited properties shall be held to those outlined in this report. FINANCING The costs have been segregated into those attributable to the construction the eight foot bituminous trail and the remaining Work of Fading and paving the roadway. The total cost of the work is estimated to be $46,011. The estimated cost of the trail is $7,863 which is to be financed through the city's trail fund. The remaining costs of $38,149 are to be £manced equally between the city through its general funds and through special assessments to the benefited property owner. The assessable cost of $19,075 is proposed to be divided equally among the three fronting property owners.. This would result in an assessment of 56,358 per property. I£ 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 from $1,049 to $677 over this ten year period. ,Ks stated in the costs section above, if sewer and water impacts resuli in addiiionaI improvements and associated costs, it is proposed that these additional costs shall be