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<br />~oward R. Green Company <br />May 30,2003 <br />File: 818860J-0564 <br /> <br />I t em II 6. 1. <br /> <br />The Honorable Mayor and City Council <br />City of Elk River <br />13065 Orono Parkway <br />Elk River, MN 55330 <br /> <br />RE: BOSTON STREET/CONCORD STREET AREA IMPROVEMENTS <br />ASSESSMENT HEARING <br /> <br />Dear Council Members: <br /> <br />As you are aware, the Assessment Hearing for the Boston StreeVConcord Street Area improvement is <br />scheduled for Monday, June 9, 2003. I will have a brief presentation regarding the proposed <br />assessment of the improvements. As you are aware, we have already bid the project, and the low bid <br />was slightly more than the feasibility construction cost estimate. However, upon analyzing the bid, the <br />amount to be assessed is slightly less than estimated in the feasibility study. The share the City is <br />proposed to fund for the reconstruction of the rural-style street to an urban standard is slightly more <br />than was estimated in the feasibility study. The assessment is proposed to be over a 15-year period at <br />5.50 percent interest with an amount of $17,243.41 assessed to 21 property owners. Lori Johnson, <br />City Finance Director, has indicated her willingness to extend the assessment period to 20 years for <br />anyone that requests a longer period to lessen the annual amount paid. At the close of my <br />presentation, I will available to answer questions from the City Council and/or affected property <br />owners. <br /> <br />As the City Council is aware, assessed property owners have the right to appeal the assessment of <br />this project against their property. In order to preserve their rights to appeal, the property owners <br />must submit a written objection to the Mayor or City Administrator at or before the Assessment <br />Hearing. Simplv orallv statina an obiection to the assessment at the Assessment Hearina does <br />not preserve the property owner's riaht to appeal the assessment As of the date of this memo, <br />staff has received no written objections to the proposed assessment. <br /> <br />At the close of the Assessment Hearing, if the City Council deems it appropriate to move forward with <br />the project, the attached resolution adopting the Final Assessment Roll in the matter of the Boston <br />StreeVConcord Street Area improvements of 2003 should be considered. <br /> <br />If you have any questions regarding this issue, please call. <br /> <br />Sincerely, <br /> <br />Howard R. Green Company <br />~ <br />h4WO#l&rt~~ <br />Terry J. au~~~ -~.E. <br /> <br />T JM:sw <br /> <br />Enclosure <br /> <br />Ltr2-052903-Council <br />1326 Energy Park Drive. St. Paul, MN 55108 . 651/644-4389 fax 651/644-9446 toll free 888/368-4389 <br />