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Howard R. Green Company <br />Project No. 814060J <br /> <br />TH 10/Waco Street Intersection Signalization <br /> Elk River, Minnesota <br /> <br />IV. <br /> <br />Property Acreage <br />Lot 1, Block 1 4.50 <br />Outlot C 6.09 <br />Outlot D 3.77 <br />TOTAL 14.36 <br /> <br />Proposed <br />Assessment Amount <br /> <br />$ 9,792.83 <br />13,252.96 <br />8,204.21 <br />$31,250.00 <br /> <br />These parcels are also shown on the attached Exhibit '1. <br /> <br />PROJECT SCHEDULE <br /> <br />This project has received Mn/DOT initial approval and is ready to proceed at any <br />given time. It is recommended that the public hearing and assessment hearing <br />be held on May 13, 2002, and the project proceed to bidding and construction <br />after that meeting. <br /> <br />CONCLUSION <br /> <br />The total project cost is estimated at $250,000. The project is necessary and <br />cost-effective. The City's share of this total project cost is $125,000 with the <br />remainder funded by Mn/DOT. The City's cost will be financed through a <br />combination of assessments to the benefited properties in the southeast <br />quadrant of the intersection and Municipal State Aid dollars. <br /> <br />Based on the information gathered and analysis presented, the proposed <br />improvements discussed in this study are feasible from an engineering <br />standpoint. <br /> <br />Feas-814060J Page 2 <br /> <br /> <br />