5.4. SR 05-03-2010 - Laserfiche WebLink

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VI1. INFORMATIONAL HEARING An informational hearing was held on April 26, 2010 with the affected property owners. The project was discussed and residents were encouraged to voice their concerns and to ask questions. Residents from 10 of the 126 of the properties notified for the informational meeting were in attendance; several residents own more than one parcel affected by the project. Detailed minutes and the sign in sheets from the informational meeting can be found in Appendix B. VI11. ESTIMATED PROJECT COST The estimated construction costs and associated overhead costs for the proposed improvements are summarized in Table 1. Based on past experiences on similar projects in the City, the overhead costs have been estimated at 14% of the total construction cost. The overhead costs include city administration, engineering design, fiscal, and legal costs. Table 1 Project Cost Estimate Street Improvement Construction Cost $ 570,500 Administration, Engineering, Fiscal, & Legal (14%) $ 75,000 Contingency (5%) $ 26,000 Total Protect Cost $ 671,500 It is important to note that at the time of report completion the results of soils investigation were not available, our cost analysis and the resulting range of assessments shown contain a cost factor that reflects this uncertainty. IX. FINANCING AND ASSESSMENTS Previous projects were also taken into consideration when determining the benefitting properties and formerly assessed parcels. With the exception of the street reconstruction project in 1988, properties assessed for previous projects including the 2003 street reconstruction, 2005 street reconstruction, 2008 bituminous overlay, and 2009 full depth reclamation project will not be considered for assessments in this case. Previous project assessments can be seen graphically in Exhibit 7. 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/gutter, sidewalks, pedestrian curb ramps, storm sewer, and street lighting. A residential lot that could not be further subdivided would be assessed as 1.0 unit. Apartment and condominium units would be assessed at 0.25 of a residential unit. Lots that can be subdivided would be assessed as multiple units as appropriate. 6