Agenda - Council - 01/24/2006 - Laserfiche WebLink

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Project 06-01 will not be an assessment project since funds for the first sealcoating of newly constructed streets have been escrowed by the project developer for this purpose. Project 06-04 is comprised of collector MSA streets and do not have the typical fronting densities that are found in residential subdivisions. This project will assess the few fronting properties along these streets the average sealcoating assessment in accordance with Assessment Policy No 6. Project 06-03 includes the sealcoating of streets in a commercial and industrial area. This project will be assessed based upon area in accordance with Assessment Policy No 7 which was adopted in 2003. The remaining projects have been ag~egated by subdivision or similar lot sizes and will be assessed per unit in accordance with Assessment Policy No. 1. Table 5' of the Feasibility Study summarizes this year's project costs and anticipated individual assessments. The total cost of ail improvements is anticipated to be $964,275, of which $20,376 will come from developer escrows and $143,830 will be financed through MSA funds. Funding for individual projects is divided equally between assessments and the City general fund budget. Sealcoat project assessments are anticipated to be $100 for residential properties. Commercial sealcoat assessments will vary based upon parcel size and are anticipated to range between $102 and $1,546. The overlay projects have anticipated assessments which range between $805 and $1,317. Notice has been sent to all benefited property owners as required by City Code and Minnesota Statues Chapter 429. Following the public hearing, the Council should direct any revisions to the Feasibility Study it deems necessary as a result of the comments made at the public heating, as the Feasibility Study will serve as the basis for determining the work to be performed and the method in which costs will be financed. Assuming no petitions are received from a majority of the benefited properties opposing the improvement, the Council Will be asked to order the projects at the Mamh 28, 2006 meeting. It is anticipated that contracts will be awarded at the April 25, 2006 Council meeting and work will be performed during May through July. Final costs will be presented at the assessment hearing on September 26, 2006. Council Action: None required, unless modifications to the feasibility study are desired. Reviewed by: City Administrator Assistant Public Works Director/Principal Engineer Finance Officer CC: 01/24/06 -158-