4.0. SR 01-26-1998 - Laserfiche WebLink

Home Browse Search

Costs associated with the acquisition of rights-of-way and easements h~a_ve not been included in the estimated costs. These costs will vary depending if rights-of-way and easements are acquired through an acquisition process or from the platting of property within the project areas. IX. FINANCING Costs associated with the proposed improvements will be financed through trunk and lateral sanitary sewer and water assessments to benefitting property owners, street and storm drainage assessments to the Developers of the Earl Hohlen and Wadde Schulze properties, MSA funds, Intermodal Surface Transportation Efficiency Act (ISTEA) funds, and County funds. At the time that a signal system is installed at TH 10 and 171st Avenue, MnDOT funds for the two TH 10 legs of the intersection would likely be available. Proposed assessments will be based on the City's Assessment Manual and current City assessment policies. An appraisal report prepared by Peter J. Patchin and Associates, Inc. was discussed in the planning study and is included in Appendix C for reference. This report concluded that the market benefit of trunk sanitary sewer and water within the East Elk River Urban Service Area is $6,000 per acre for residential and industrial lands, and $8,000 per acre for commercial lands. It is proposed to assess for trunk sanitary sewer and water at a single rate of $6,000 per acre regardless of zoning, following previous City assessment policies. Assessments are levied against gross acreage, subtracting designated wetland and flood plain areas only. Exhibit 10 shows the property owners proposed to be assessed for trunk sanitary sewer and water and associated gross acreage. The exact boundaries of wetlands and floodplains will need to be verified at the time of construction and prior to assessments being established. Trunk sanitary sewer and water lines have been shown to provide additional benefit to the Earl Hohlen and Wadde Schulze properties as lateral sanitary sewer and water. This lateral benefit is proposed to assessed at the City's current assessment rate of $50.00 per front foot for lateral sanitary sewer and water. In areas where only lateral sanitary sewer or lateral water service is present, a rate of $25.00 per front foot will be assessed. Costs associated with the construction of streets and storm drainage are proposed to be funded through the use of MSA funds, and through assessments to the Developers of the Earl Hohlen and Wadde Schulze properties. The proposed transportation corridor was added to the MSA system in 1995 making costs associated with street and storm drainage eligible for MSA funds. As projects develop, an application for ISTEA funds will be made for proposed street and storm drainage construction. The application of Surface water Management Fees to developments ~vithin the area will also be used to fund proposed storm drainage construction. The Developers of the Earl Hohlen and Wadde Schulze properties are proposed to be assessed for the entire street and storm drainage improvements costs within each dex'Telopment. The cost associated with the proposed Main Street improvements will be assessed to the Developer of the Earl Hohlen property. Feas-800.110 27 800-110-J