Agenda - Public Works Committee - 05/17/2005

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financed through other sources. Thus, the assessed cost to these benefited property owners shall be the same as those presented in this report. The project will have a final tabulation made on actual project costs consistent with the methodology described in this report. A public heating will be held identifying the actual costs to be recovered by special assessment. Each property may, at any time prior to c,:rfi lication 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 hearing. PROJECT SCHEDULE q'his project is anticipated to proceed under the regulations of Chapter 4 of City Code and State Statutes 429 which regulate special assessment public improvement projects. A schedule for the progress of this project could follow as outlined below provided that the issues surrounding the impact of sewer and water are resolved by the time the project is ready to be ordered: · April 12, 2005 · May 10, 2005 · July 12, 2005 · August 23, 2005 · September 27, 2005 · October 2005 · September 27, 2005 o May 2006 Present feasibility study to City Council and Order public hearing Hold public hearing Authorize project by City Council (60 days after public hearing) Receive plans and specifications and authorize bids Receive bids and award construction contract Construct project Hold assessment he.aring and levy assessments First assessment payment due la the event the sewer and water impacts have not been resolved, it may be necessary to modify the schedule above such that co.nstruction is initiated in May of 2006 and the assessment hearing is deferred until September of 2006. The first payment would be due in May 2007. SUMNIARY AND CONCLUSIONS Thc proposed improvements are technically feasible and will benefit the area served. It is ~ ecommended that the City take the steps discussed in the Project Schedule section of this ~'cport to decide whether to proceed with the improvements.. ?