6.1.A. SR 12-18-2006 - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I I I Table 1 Project Cost Estimate Street & Storm Sewer Improvements Watermain Improvements Total Construction Cost $ 2,244,100 $ 278,400 $ 2,522,500 Administration, Engineering, Fiscal, & Legal (28%) Contingency (5%) Total Project Cost $ 706,300 $ 126,200 $ 3,355,000 X. FINANCING AND ASSESSMENTS The improvements discussed in this report are proposed to be financed through a number of different methods. Benefiting properties would be assessed on a per unit basis for street, curb and gutter, sidewalks, storm sewer, and street lighting. A residential lot that could not be further subdivided would be assessed as one unit. Lots that can be subdivided would be assessed as multiple units as appropriate. Churehes and other non-residential property would be assessed as multiple units determined by the lot area. The number of assessable units is approximately 126 for the reconstruction areas, 28 for the alley areas, and 30 for the mill and overlay area which is graphically shown in Exhibit 9. The proposed assessment rate is $6,650.00 per unit for areas where complete reconstruction is proposed, $500.00 for the alley areas, and $1,950.00 for the mill and overlay areas. The total assessment amount would then be $910,400. The Elk River Municipal Utilities would be responsible for funding all water improvements, including construction cost plus associated overhead. The water improvements are estimated at a total project cost of $370,200. Based on the estimated total project cost of $3,355,000, total assessments of $910,400 and Elk River Municipal Utilities contribution of $370,200, the remaining project cost to be funding by the City is $2,074,400. XI. PROJECT SCHEDULE Informational Meeting Feasibility to City Council Public Hearing Plans and Specifications Ordered Prepare plans and Specifications Walk Through with Residents Plans and Specifications Approved by Council Advertise for Bid Assessment Hearing Bid Awarded Begin Construction Construction Substantially Complete December 7, 2006 December 18, 2006 February 5, 2007 February 5, 2007 February 2007 Spring 2007 Spring 2007 March/April 2007 April 2, 2007 April 2007 May 2007 Fall 2007 8