5.1. SR 07-18-2011 - Laserfiche WebLink

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previous projects all town home or twin home properties are proposed to be assessed at $5,238.46 or 0.75 residential equivalents per dwelling unit. The properties along the 15L Street cul-de-sac are proposed to be assessed at a rate of $1,746.15 or 0.25 residential equivalents per dwelling unit. Commercial and industrial properties have been assessed at a rate of $10,476.92 or 1.5 residential equivalents. Assessments in Project Area 2 have been calculated with the total assessable costs split throughout the Industrial Park based on 50% per unit and 50% on assessable lot frontage. Assessments in Project Area 2 range from $6,256.83 to $18,852.37. At the close of the assessment hearing, it would be appropriate for the City Council to consider the attached resolutions. The first resolution adopts the final assessment roll (which is also attached). This can be adopted with any revisions to the assessment roll that the City Council deems appropriate after listening to testimony from the public. A final notice of the assessment schedule including interest rate will be mailed to each property after the assessment hearing, indicating the action the Council has taken. The second resolution awards the contract. This resolution has been prepared based on staff recommendation to not include the sidewalk along Evans Avenue. It would only be appropriate to consider this second resolution if the resolution adopting the final assessment roll is passed by the City Council. FINANCIAL IMPACT Based on the low bid received, the total project cost including overhead is estimated at $1,655,976.72. The total cost of private property assessments, as detailed in the attached assessment rolls, is $560,615.41. The remaining project cost is proposed to be funded by the appropriate City and Elk River Municipal Utility funds. ATTACHMENTS ^ Tabulation of bids Resolution adopting final assessment roll ^ Assessment Roll -Project Area 1 & Project Area 2 Resolution awarding the low bid and authorizing execution of the contract Action Motion by Second by Vote Follow Up N:\Public Bodies\Ciry Council\Council RCA\Agenda Packet\07-18-2011\Assessment and Bid.docx