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be funding by the City is $993,300. It is recommended that the City Street Reserve <br />Fund be used for financing this portion of the project. <br /> <br />Xl. PROJECT SCHEDULE <br /> <br />Feasibility to City Council <br />Public Hearing <br />Plans and Specifications Ordered <br />Prepare Plans and Specifications <br />Walk Through with Residents <br />Plans and Specifications Approved by City Council <br />Advertise for Bid <br />Assessment Hearing <br />Bid Awarded <br />Begin Construction <br />Construction Substantially Complete <br />First Assessment Payment with Real Estate Taxes <br />Place Final Bituminous Lift <br />Final Project with Contractor <br /> <br />January 13, 2003 <br />February 24, 2003 <br />February 24, 2003 <br />30 -60 days <br />Spring 2003 <br />Spring 2003 <br />30 days <br />April 2003 <br />May 2003 <br />Spring 2003 <br />Fall 2003 <br />May 2004 <br />Summer 2004 <br />Summer 2004 <br /> <br />Xll. CONCLUSION <br /> <br />The total estimated project cost for street, storm sewer, and watermain including <br />overhead costs is $'1,897,300. The project is necessary and cost-effective. As <br />previously stated, this cost will be financed through a combination of assessments to <br />benefiting properties, Elk River Municipal Utilities funds, and City Street Reserve funds. <br /> <br />Based on the information gathered and the analysis presented, the proposed <br />improvements discussed in this study are feasible from an engineering standpoint. <br /> <br />7 <br /> <br /> <br />