6.1. SR 08-17-2009 - Laserfiche WebLink

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Feasibility Report Windsor Meadows Final Lift of Bituminous and Other Ancillary Items A. Introduction The Windsor Meadows Addition is a rural clustered development located in the northwest area of the city as shown on Exhibit 1. The developers of Windsor Meadows entered into a developer's agreement with the City of Elk River on April 14, 2005. The public improvements to be constructed by the developers according to the agreement have never been completed. The final lift of bituminous has never been placed, along with other minor improvements. Therefore, on Apri120, 2009, the City Council adopted Resolution 09-17, ordering a preliminary feasibility study for the completion of the public improvements in the Windsor Meadows development. B. Proposed Improvements According to the terms of the developer's agreement and an inspection of the current condition of the improvements in Windsor Meadows Addition, the following items remain to be completed: • Prepare broken areas of bituminous base course • Repair settled bituminous area on 212`'' Court • Repair erosion on outlot caused by drainage • Install wear course of bituminous paving • Remove silt fence and other erosion protection measures • Inspect all catch basins for sediment and clean as necessary C. Estimated Cost It is estimated that the costs of hiring a contractor to complete the above detailed improvements will be as follows: Estimated construction costs $60,000 Construction contingency (5%) 3,000 Construction overhead 10,000 Unpaid city invoices 3.000 TOTAL $76,000 D. Financing A search of the county records indicates that of the 33 buildable lots in Windsor Meadows Addition, 23 of them are still owned by the Lakeland Construction Finance, LLC. It is believed that this is the company that financed the development and ended up with the property when the developer defaulted. It is proposed to assess the improvements to the 23 lots owned by Lakeland Construction Finance, LLC. Exhibit 2 shows the lots that axe still in the ownership of Lakeland Construction Finance. Dividing the total estimated cost by the 231ots results in an assessment of $3,305 per lot.