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<br /> <br />- 7 - <br />Commercial Street Reconstruction Assessments <br />The actual assessable cost of a street serving commercial properties is <br />calculated based on an 80/20 split of the project costs. Whereas 80% of the <br />project cost, excluding storm sewer and 100% of the concrete curb and gutter <br />cost are assessed to the adjacent property owners. The other 20% of the total <br />project costs excluding sidewalk and 100% of the storm sewer would be borne by <br />the City as a whole. <br /> <br />In addition to the 80/20 calculation the City has set a cap on the assessment rate <br />that can be charged per front foot for an urban, commercial street. It is proposed <br />that the cap be set at $126.70 for this project. <br /> <br /> <br />INDIVIDUAL PROJECTS <br /> <br /> VANDERBIE ROAD <br />The total street project cost for the rehabilitation of Vanderbie Road is <br />estimated at $280,000.00. There are 35 residential properties along <br />Vanderbie Road with recommended assessments totaling $120,000.00 which <br />represents a 50/50 split of the assessment eligible costs. It is proposed to <br />utilize a unit assessment for the improvements. Assessments would occur <br />with the following provisions: <br /> <br />o A front yard would be assessed one unit and a side yard would <br />receive 0.2 of a unit. <br />o The unit assessment proposed is $3,680.98. <br /> <br /> ROSE PLACE & LAKESHORE <br />The total street project cost for the reconstruction of Rose Place and <br />Lakeshore is estimated at $490,000.00. There are 23 residential properties <br />along these two streets that would be assessed a total of $125,119.59. City <br />Staff is proposing that the properties be assessed on a unit basis. <br />Assessments would occur with the following provisions: <br /> <br />o Properties with double frontage would be assessed one unit for the <br />side with a driveway and 0.2 of a unit for the other. <br />o The unit assessment proposed is $6,194.04. <br /> <br /> LABORE AVENUE <br />The total street project cost for the reconstruction of Labore Avenue is <br />estimated at $400,000.00. There are 15 residential properties and 1 <br />commercial property (Canadian Pacific RR right-of-way) along Labore <br />Avenue that would be assessed a total of $121,500.90. City staff is <br />proposing the project be assessed to the residential and commercial <br />properties on a unit basis. Assessments would occur with the following <br />provisions: <br /> <br />o Properties with double frontage would be assessed one unit for the <br />side with a driveway and 0.2 of a unit for the other. <br />o Commercial properties are assessed at twice the residential rate. <br />o The unit assessment proposed is $7,147.11 for residential properties.