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Howard R. Green Company <br />Project No. 806550J <br /> <br />Feasibility Study 175th Avenue Improvements <br /> City of Elk River <br /> <br />the lateral portion with the City funding the trunk oversizing until adjacent properties <br />were assessed. <br /> <br />It is proposed to assess the street construction at a rate of $5,000 per residential unit. <br />There are a total of 25 residential units along 175th Avenue. The only properties with <br />more than one unit is the Klein parcel with two and the Mitchell parcel with 11. The <br />Cargill parcel has not been proposed to be assessed because of the global agreement <br />between the City and Cargill. The proposed assessable units are shown on Exhibit 4. <br /> <br />IX. PROJECT SCHEDULE <br /> <br />The schedule for the 175th Avenue Improvement project, as provided in Table 3, is <br />based upon 9uidelines established in Minnesota State Statues, Chapter 429, Local <br />Improvements and Special Assessments. These dates will be revised if necessary as <br />the project develops. <br /> <br /> Table 3 <br />Project Schedule <br /> <br />City Council Receives Feasibility Study and Orders Public Hearing <br /> <br />Public Hearing, Resolution Ordering the Improvement <br /> <br />Assessment Hearing/Resolution Adopting Assessment <br /> Role <br /> <br />Construction Substantially Complete <br /> <br />First Payment Due with Real Estate Taxes <br /> <br />May 13, 2002 <br /> <br />June 10, 2002 <br /> <br />August 12, 2002 <br /> <br />Fall 2003 <br /> <br />May 2003 <br /> <br />X. CONCLUSION <br /> <br />The total estimated project cost, including overhead costs is $941,600. The project is <br />necessary and cost-effective. As previously stated, this cost will be financed through a <br />combination of assessments to benefiting properties and TEA-21 funds, Municipal State <br />Aid funds, Elk River Municipal Utilities funds, and City funds. <br /> <br />8 <br /> <br /> <br />