7.5. SR 4-15-2002 - Laserfiche WebLink

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Howard R. Green Company Project No. 814060J TH 10/Waco Street Intersection Signalization Elk River, Minnesota I. INTRODUCTION On April 15, 2002, the Elk River City Council adopted a resolution authorizing Howard R. Green Company to prepare a feasibility study for the Trunk Highway (TH) 10/Waco Street Intersection Signalization improvement. The project was initiated by the City Council due to safety concerns at the intersection relative to the development of the commercial property in the southeast quadrant of this intersection. II. NECESSITY AND COST-EFFECTIVENESS The improvements proposed in this study are necessary for the safe movement of vehicular traffic through the intersection of TH 10 and VVaco Street. As the commercial property in the southeast quadrant of the intersection continues to develop, more traffic will be generated at this intersection. This project will be bid in conjunction with two other signal improvements to develop a large enough project to ensure a competitive bidding process. Therefore, the improvements will be cost-effective. Based on the traffic volumes currently at the intersection and anticipated in the future, the proposed improvements are necessary, cost- effective, and feasible from an engineering standpoint. III. PROPOSED IMPROVEMENTS / ESTIMATED COST / PROPOSED ASSESSMENTS The proposed improvements for the TH 10/VVaco Street intersection would be full signalization. With the previous Western Area Phase IV improvements, the intersection geometrics were all established, anticipating future signalization. Therefore, this project would simply install the signal system. The signal installation will be done under an agreement with the Minnesota Department of Transportation (Mn/DOT). The City of Elk River will be the lead agency in getting this improvement accomplished. The construction cost plus a small amount of overhead for the signalization improvement is estimated at $250,000. The cost will be split evenly between Mn/DOT and the City of Elk River based on legs entedng the intersection. Mn/DOT has two legs with TH 10 and the City of Elk River has two legs with Waco Street. Therefore, the City's share of the construction cost is estimated at $125,000. Dividing the City's share by four, for the four quadrants of the intersection, the amount to be assessed to the southeast quadrant is $31,250. The proposed assessment of $31,250 is recommended to be assessed to Lot 1, Block 1, on which the Allina Clinic facility is currently operating, Outlot C and Outlot D of Elk Path Business Park Addition, which are also zoned commercial. Total acreage of these three lots is 14.36 acres. Simply dividing the cost to be assessed by the total acreage results in a rate of $2,176.18 per acre. The following table lists the three properties, their total acreage, and proposed assessment amount. Feas-814060J Page 1