5.5. SR 06-07-2010 - Laserfiche WebLink

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^~/ Elk River REQUEST FOR ACTION To Item Number Ma or and Ci Council 5.5. Agenda Section Meeting Date Prepared by Administration une 7, 2010 ohn Anderson P.E. Item Description Reviewed by Main Street Pavement Rehabilitation Project Lori ohnson, Ci Administrator Reviewed by Action Requested Consider adoption of the attached two resolutions ordering the assessment hearing and establishing the amount to be assessed. Bacl~ground/Discussion The City Council authorized advertising for bids for this project on May 3, 2010. Bids were opened on June 1, 2010. The low bid in the amount of $443,874.70 was submitted by Rum River Contracting. The resolutions the council is asked to consider set the date of the Assessment Hearing to June 28, 2010 and set the maximum amount that can be assessed to properties to be $354,212. This amount represents 70% of the total cost being assessed to the properties. The assessment rate to an individual property would be $4,167.20, The City Council has discussed establishing a policy that discounts the assessment rate due to the fact that the roadway in question handles more than local traffic. The Council may at their discretion provide staff with direction as to what, if any, adjustment factor to apply to this assessment. The Feasibility Study for this project included a draft policy that provides adjustments to the assessment rate to account fox traffic volumes. This draft policy has been updated with the project costs as bid. The draft policy is attached for the council to consider adjustments to the assessment amount. MnDOT has conducted their regularly scheduled traffic counts on Main Street and the data shows the ADT to range from 4,950 to 6,200 along this portion of Main Street. A reduction to 40%, of the origina170% assessed, would equal an assessment rate of $1,666.88. A reduction to 25%, of the origina170% assessed, would equal an assessment rate of $1,041.80. Financial Impact The total project cost is $506,017 which includes the construction cost of $443,875, and overhead cost of $62,142. The overhead cost includes preliminary engineering of $29,000 and construction related engineering of $19,000. The City has budgeted $400,000 from the street improvement fund for this project and $100,000 from special assessments. Attachments ^ Resolution Determining the Assessment Cost ^ Resolution Establishing the Date for the Assessment Hearing ^ Bid Tabulation ^ Draft policy on High Volume Roads (revised 6-2-10)