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Feasibility Study <br />2010 Street Overlay Improvements <br />City of Elk River, MN <br />assessments options were also calculated based on buildable lot area and on a per lot basis. The <br />assessment rate based on buildable area would be approximately $4,060 per acre, with total <br />assessments ranging from $4,700 to $53,000. Assessments on a per lot basis would be <br />approximately $15,800. This per lot calculation excludes the EDA lot at the corner of Industrial <br />Boulevard and Triangle Road as being too inundated by wetlands to be buildable. <br />VII. PROJECT SCHEDULE <br />The following project schedule for the 2010 Overlay Improvements Project is based upon <br />guidelines in Minnesota State Statues Chapter 429 for assessment of local improvements: <br />Order Feasibility Study May 17, 2010 <br />Receive Feasibility Study June 7, 2010 <br />Call for lmprovement Hearing June 7, 2010 <br />Authorize Preparation of P & S June 7, 2010 <br />Conduct Informational Open House June 22, 2010 <br />Conduct Improvement Hearing June 28, 2010 <br />Authorize Project June 28, 2010 <br />Approve P & S July 6, 2010 <br />Authorize Advertisement for Bids July 6, 2010 <br />Call for Assessment Hearing July 6, 2010 <br />Open Bids August 4, 2010 <br />Conduct Assessment Hearing August 16, 2010 <br />Award Bids August 16, 2010 <br />Commence Construction August/September 2010 <br />Complete Construction September 30, 2010 <br />Warranty Inspection September, 2011 <br />VHL CONCLUSION <br />Based on the information Qathered and presented in this study the proposed overlay <br />improvements, from an engineering standpoint, are necessary and feasible and are best <br />accomplished by letting competitive bids for the work. The proposed project would improve the <br />condition and extend the service life of the existing bitununous roads. <br />©Bnlton & Monk, bic. 2010. All Ki~lltc Raceri~ed <br />816.102234 <br />Page 5 June 3, 2010 <br />