Agenda - Council - 03/24/2020 - Laserfiche WebLink

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A portion of the improvements will be paid by the City either through utility funds or other means. A list of assumptions is as follows: • All trunk water and sanitary sewer system costs will be paid for through the City utility funds, • Storm water management costs are related to ponding and are considered integral to roadway construction, • Assessments will be made to benefitting properties as each phase is constructed, • Two standard methods of assessments were analyzed including: Frontage and Area. • The City's existing assessment policy very closely matches the Frontage method, and • Gross acreage (less NWI Wetland acreage) was used in lieu of net developable acreage in the calculations below. • Lot 3 was not considered in the assessments as the lot is zoned residential. The resultant assessment amounts are considered negligible related to the entire Business Park area. • Lots 14 and 15 abut Armstrong Boulevard, a County roadway, and will access off of Bunker Lake Boulevard. Lots 1 and 4 abut a portion of the Puma Street right of way that is anticipated to be vacated. Lots 8, 9 and 10 abut Alpine Drive, but access will be limited to Puma Street. The table below depicts a distribution based on all costs being assessed to the benefitting properties. We have assumed for this analysis the costs would be assessed to properties benefitting from each phase of construction. For instance, properties directly benefitting from Phase 1 improvements would be assessed for Phase 1 costs at the time of Phase 1 improvements. Calculations were based on the areas and front footages, along with the costs per phase as developed earlier within this report. Trunk sanitary sewer and trunk watermain were considered City costs and were not included in the calculations. While this study focuses primarily on Phases 1— 3, the future phase and the area of additional consideration were included for comparison. A summary of the unit costs used in the calculations is presented below: Phase Frontage Area Method Method (Cost/FF) (Cost/Acre) 1A $ 408.13 $ 19,559.86 1B $ 694.54 $ 33,311.70 2 $ 424.09 $ 14,971.21 Future $ 346.73 $ 15,623.43 Additional Area $ 341.13 $ 55,963.60 Prepared by: Bolton & Menk, Inc. Future Business Park —City of Ramsey Page 11