CCP 03-11-2014 - Laserfiche WebLink

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PROJECT FUNDING This project, if approved, would be funded from a combination of City of New Brighton general taxes, special assessments, Water Improvement Funds, Sanitary Sewer Improvement Funds, and Storm Water Improvement Funds. A breakdown of the project cost is as follows: 1. 75 percent of Street Rehabilitation costs. 2. 25 percent of Street Rehabilitation costs. 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 City of New Brighton general taxes. For this project, the proposed assessment method is the per lot basis. A portion of the assessment area includes 30 condo units in which all of the benefiting lots /property are converted to equivalent single family lots and divided amongst the number of units within each area. This method has historically been used when a large number of units access the street improvement area yet the size of the overall area benefitting from the improvement greatly vary from the typical 75 -foot residential lot. The condos located on 23rd Avenue NW The assessable area of the common area is divided by the typical single family lot size to convert to an equivalent number of single family homes and then divided by the number of tax parcels to come up with a per unit assessment. The breakdown of the areas to be specially assessed for Lake Dian Court, 23rd Avenue NW single - family, and 23rd Avenue condos are as follows: 5 CITY COST ASSESSABLE COSTS TOTALS Street Reconstruction 1. $338,900 2. $113,000 $451,900 Watermain Replacement $365,600 $0 $365,600 Sanitary Sewer Repairs $14,000 $0 $14,000 Storm Sewer Improvements $140,300 $0 $140,300 TOTALS $858,800 $113,000 $971,800 1. 75 percent of Street Rehabilitation costs. 2. 25 percent of Street Rehabilitation costs. 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 City of New Brighton general taxes. For this project, the proposed assessment method is the per lot basis. A portion of the assessment area includes 30 condo units in which all of the benefiting lots /property are converted to equivalent single family lots and divided amongst the number of units within each area. This method has historically been used when a large number of units access the street improvement area yet the size of the overall area benefitting from the improvement greatly vary from the typical 75 -foot residential lot. The condos located on 23rd Avenue NW The assessable area of the common area is divided by the typical single family lot size to convert to an equivalent number of single family homes and then divided by the number of tax parcels to come up with a per unit assessment. The breakdown of the areas to be specially assessed for Lake Dian Court, 23rd Avenue NW single - family, and 23rd Avenue condos are as follows: 5