Agenda - Council - 05/23/2006 - Laserfiche WebLink

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The project will have a final tabulation made on actual project costs consistent with d~e methodology described in this report. A public hearing will be hdd identifying the actual costs to be recovered by special assessment. Each property may, at any time prior to certification of the assessment to the County Auditor: pay the whole of the assessment on such praper~y, with interest, except that no interest shall be cha'ged 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 headng. PROJECT SCHEDULE This 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 fbr the progress of this project is anticipated as follows: February 28, 2006 ~, March 28, 2006 ,, June 13,2006 July 11,2006 A.l~gust 2006 September 26, 2006 May 2007 ~ City Council orders public hemJng ~nd revision ofprojecl: feasibility study Hold public hear/ng Aurhohze project by City Comacil (60 days after public hemJn~) and order bids Receive bids and award consm~ction contract Construct project Hold assessment hear/rig and levy assessments First assessment payment due SUMMARY AND CONCLUSIONS The proposed improvements are tectmically feasible and will benefit the area served. It is recommended that the City take the steps discussed in the Project Schedule section of this report to decide whether to proceed with the improvements.