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3.0. HRSR 02-12-2001
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3.0. HRSR 02-12-2001
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2/12/2001
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have to start prior to us. They can do some work around the King and Main <br /> site and maybe take the lead on the sidewalk removal on the north side. A <br /> rash of poor weather that would limit construction activity could hamper a <br /> tight construction time frame, but we think we are safe in saying everything <br /> should be completed by mid June. <br /> Staff wanted to have a meeting or two with the HRA on costs and assessment <br /> options prior to having the neighborhood meeting with the downtown business <br /> and property owners. In this manner, in addition to the product and the design <br /> for the sidewalks, we could also discuss assessments. Based on the scenarios <br /> laid out by the city engineer, it is staffs opinion that a combination unit and <br /> front footage assessment approach is the best and fairest for downtown <br /> property owners. Either way, the city is a significant property owner and will <br /> receive assessments for this project. <br /> What amount to assess is a judgment call for the City Council and HRA. A <br /> certain minimum amount needs to be assessed in order to cover the <br /> administration/engineering cost for going through the assessment process <br /> while assessing too much could spark opposition to the project by the property <br /> and business owners. "Hard feelings" shouldn't develop when we assess only <br /> 15 to 20 percent of the cost of a project, but it could happen. Where the balance <br /> • exists will be anyone's guess. The three assessment options show revenues <br /> being received that range from $42,900 to $58,500. <br /> As noted in January, the HRA's share of the project will be paid off over time <br /> and will be funded via an internal loan from one of the city's reserves. In this <br /> manner, there will still be some HRA funds available on an annual basis for <br /> other projects. If no other projects arise, the HRA can pledge more monies to <br /> the repayment of the sidewalk project in any given year. <br /> • <br />
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