CCP 02-26-2008 - Laserfiche WebLink

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0 PROJECT FUNDING This project, if approved, would be funded from a combination of City of New Brighton general taxes, special assessments, M.S.A. Construction Funds, and the Water Improvement Fund, Sanitary Sewer Improvement Fund, and the Storm Water Improvement Fund. A breakdown of the project cost is as follows: I . Street reconstruction and curb and gutter costs less assessable costs and M.S.A. costs. 2. 25 percent of street reconstruction and curb and gutter costs for typical residential street section. 3. The total costs to reconstruct 14th Street NW is proposed to be paid from M.S.A. construction funds. 4. Assumes curb and gutter will need to be removed and replaced and aggregate base can not be salvaged. PROPOSED STREET RECONSTRUCTION FUNDING - In accordance with the assessment policies of New Brighton's Comprehensive Street Plan for streets reconstructed to City standards with existing concrete curb and gutter, 25 percent of the street surfacing and concrete curb repair costs are special assessed against the benefiting properties in the project. The remaining costs are to be paid from taxes and Municipal State Aid Funds. The proposed method of assessing this project is on a per lot basis in which all the benefiting lots in the project area are assessed an equal amount. This has historically been the most common and equitable type of special assessment for street projects like this where lots are generally the same size and receive the same benefit. There are approximately 136 properties that are assessable under this project. The assessable properties are shown in green on the Project Area Map on Page 8. The estimated street assessment rate for proposed Project 08-1 is $1,380.00 PER LOT (Assessment rate calculations can be found in Appendix B) 5 ASSESSABLE MSA CITY COST COSTS FUNDS TOTALS Street Reconstruction 1. $459,600 2. $187,500 3. $121,400 $768,500 Watermain Replacement 4. $220,550 $0 $0 $220,550 Sanitary Sewer Repairs $41,000 $0 $0 $41,000 Storm Sewer Improvements $9,650 $0 $0 $9,650 29th Avenue NW Retaining $0 $0 $21,950 $21,950 Wall Replacement Public Impound Lot Paving $21,650 $0 $0 $21,650 TOTALS $752,450 $187,500 $143,350 $1,083,300 I . Street reconstruction and curb and gutter costs less assessable costs and M.S.A. costs. 2. 25 percent of street reconstruction and curb and gutter costs for typical residential street section. 3. The total costs to reconstruct 14th Street NW is proposed to be paid from M.S.A. construction funds. 4. Assumes curb and gutter will need to be removed and replaced and aggregate base can not be salvaged. PROPOSED STREET RECONSTRUCTION FUNDING - In accordance with the assessment policies of New Brighton's Comprehensive Street Plan for streets reconstructed to City standards with existing concrete curb and gutter, 25 percent of the street surfacing and concrete curb repair costs are special assessed against the benefiting properties in the project. The remaining costs are to be paid from taxes and Municipal State Aid Funds. The proposed method of assessing this project is on a per lot basis in which all the benefiting lots in the project area are assessed an equal amount. This has historically been the most common and equitable type of special assessment for street projects like this where lots are generally the same size and receive the same benefit. There are approximately 136 properties that are assessable under this project. The assessable properties are shown in green on the Project Area Map on Page 8. The estimated street assessment rate for proposed Project 08-1 is $1,380.00 PER LOT (Assessment rate calculations can be found in Appendix B) 5