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Howard R, Green Gompany <br /> July 2, 2002 <br /> File: 806550J-0030 <br /> <br />Item 5.7. <br /> <br />The Honorable Mayor and City Council <br />City of Elk River <br />13065 Orono Parkway <br />Elk River, MN 55330-5600 <br /> <br />RE: <br /> <br />175TM AVENUE IMPROVEMENTS <br />REVISED FEASIBILITY STUDY <br /> <br />Dear Council Members: <br /> <br />Attached is the revised Feasibility Study for the assessment of the street improvements <br />proposed for 175th Avenue between Tyler Street and Fillmore Street. As directed by the City <br />Council, we have revised the proposed assessments to reflect a six (6) percent increase in the <br />credit given for those properties which gave the easements along 175th Avenue for no <br />compensation. The six (6) percent increase in the credit is due to the fact that the original offers <br />were determined in 2000. Six (6) percent accounts for inflation of three (3) percent for each of <br />the past two years. Table 1 on page five of the Feasibility Study provides information relative to <br />which properties received compensation for signing the easements and which properties <br />received no compensation. Table 3 on page eight shows the proposed assessments, the <br />inflated credit amounts, and the difference or assessable amount remaining. As shown on <br />Table 3, the total assessment for this project is proposed to be $81,092.00. <br /> <br />Attached are two resolutions for the City Council's consideration. The first resolution accepts <br />the Feasibility Study and orders the public hearing to be held on August 12, 2002. The second <br />resolution determines the cost to be assessed and orders the preparation of an assessment roll. <br />The assessment hearing would also be held on August 12, 2002. For your information, the <br />project is scheduled to be bid in late July, and bids would be available for the Council to <br />consider August 12, 2002, after the public hearing and assessment hearing. <br /> <br />If you have any questions regarding this project or either of these two proposed resolutions, I <br />will be in attendance at your July 8, 2002, City Council meeting. <br /> <br />Sincerely, <br /> <br />Howard R. Green Company <br />Ter~ J~. a~urer, P.E. <br /> <br />TJM:mw <br /> <br />Enclosures <br /> <br />Ltr-070202-Council[1]Ltr-070202-Council[1] <br /> 1326 Energy Park Drive · St. Paul, MN 55108 ° 651/644-4389 fax 651/644-9446 toll free 888/368-4389 <br /> <br /> <br />