Agenda - Council - 05/10/2005 - Laserfiche WebLink

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need to be adjusted to balance of amount of earthwork associated this the new section and grades. The southern terminus of the roadway shall be provided with a 70 foot diameter cu[ de sac. This is approximately 10 feet wider than the existing dirt cul de sac. It will be necessary to install a storm culvert alond TH 47 to maintain the drainge from the highway. Apermit from MnDOT wiiI be required for this aspect of the project as well as all work within their right of way. Existing driveways shall be neatly cut and repaved with like· material. Disturbed tufted areas on the east side of the roadway shall be restored with four inches of topsoil and be seeded with a highway tuff 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 it is anticipated that a development proposing the extension of sewer and water services to property on the. east side of TH 47 will cause construction impacts to this. project area. In the event such a projeqt materializes the above described improvements may be altered to include sanitary sewer, waterrnain storm se~wer and concrete curb and gutter. ESTIMATED COSTS An estimate of the costs described in the section above is detailed in 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 of sewer and water construction, the 'above costs will need to be appropriately modified to reflect these additionaI improvements. However, it is proposed that the. cost to the benefited properties shall be held to those outlihed in t/ds report. FINANCING The costs have been segregated into those attribut,able to the construction th~ eight foot bituminous trail and the remaining work of grading and pav/ng 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 financed 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 $6,358 per property, rf 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 per/od. As stated in the costs section above, i.f sewer and water impacts result in additional improvements and associated costs, it is proposed that these additional costs shall be -128-