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<br /> MINUTES <br /> CITY COUNCIL <br /> ,JANUARY 27, 2010 <br /> re-establish good drainage, eliminate existing cracking and protect the <br /> street. <br /> The Engineer estimated the project cost at $100,000. He noted that the <br /> City received very competitive bids the last two years due to aggressive <br /> contractor competitions. Bids are expected to be very competitive this <br /> year, although somewhat higher due to higher oil costs. <br /> The F.,ngineer noted that based on the City's Assessment Policy, a street <br /> rehabilitation is assessed at 50% of project costs excluding storm sewer <br /> repairs. Assessments are based on actual front footage, with <br /> commercial/high density properties assessed at twice the residential rate. <br /> "fhe Engineer then reviewed the proposed project schedule as well as <br /> consri•uction issues should the project move forward. He reviewed a <br /> preliminary estimated assessment roll as well as an amortization schedule <br /> example should a property owner chose to have the assessment be <br /> certified against property taxes. The City Engineer noted that once the <br /> project is completed, an assessment hearing would be held in the fall. <br /> Final assessment costs will be known at that time. When the assessment is <br /> approved, property owners will have 30 days to pay it at City Hall with no <br /> interest. If not paid, the assessment will be certified to Ramsey County for <br /> collection with property taxes over a ten year period. The Engriueer noted <br /> that the interest rate projected on the amortization schedule is for <br /> illustration purposes only. The 2009 interest rate was 5.25%, and it is <br /> hoped that the 2010 rate will be close to that amount. The interest rate is <br /> determined by what the City could sell bonds for at the time of the <br /> assessment hearing. <br /> Beverly Hoffman, 29 Round Lake Trail, noted a low area at the entrance <br /> to Round Lake Estates. The City Engineer reported this will be corrected <br /> as part of the project. Hoffman asked about parking. "the City Engineer <br /> indicated that assess to the Round Lake Estate Townhomes will be <br /> maintained. Por the remainder of the street, there may he times that access <br /> will be restricted based on where the contractor is working. However, that <br /> should be for very limited amoluits of time. As concrete curbing is <br /> replace, it will not be possible to drive over the curbing for anywhere from <br /> 2 to 5 days. He noted that curbing will he replaced, when possible, to <br /> maintain driveway access. 'fhe Engineer estimated that the entire project <br /> will take from 2 %Z to 3 weeks. Hoffman asked about paying the <br /> assessment. The Engineer again explained the option of paying without <br /> interest within 30 days of adoption of the assessment, otherwise the <br /> assessment is certified for collection with property taxes. <br /> Diane Fay, 3 Round Lake Trail, asked about parking on County Road C <br /> when access is restricted. The City Engineer again explained that access <br /> 4 <br /> <br />