02-10-10 Additions - Laserfiche WebLink

Home Browse Search

Table 2 ® ® n Construction $20.00 $19.21 $0.31 $0.11 $0 37 ~$2(3~351,, Cost , Design & $2 02 $2.00 $0 02 y ~Q 4~z Administration Construction $2,14 $2.04 $0.04 $0.01 $0 04 ~4~ Admin. ~ ~ ri c. R/W Acquisition >>F & Relocation $2.81 $2.04 ~ ~4 v Powerline ~ Burying $0.58 $0.29 $0.29 $AYi3; City Overhead $0.03 ' , U~ i ~?ro~ee#"T`ota~ . ; : X27 55 , z Sz5~29,,~ , $o:s go 12 „s ° $n 7z $zs a1.' For the purpose of this report we will be concentrating on the City of Little Canada's portion of the project cost. Because Rice Street is a County State Aid Highway portions of the project costs will be eligible for reimbursement through Municipal State Aid (MSA) funds. However the MSA funds are not credited to offset assessments as they are utilized in a revenue pool fund to offset total reconstruction program costs. ASSESSMENTS Based on the City Assessment Policy that governs street reconstruction/ rehabilitation, the primary method of financing street improvements is to assess the adjacent property owners on a front foot basis. The policy has been in practice for over 15 years and has been modified from its original version to provide more fair assessment of properties as new or changing project types have occurred. The method for assessing the reconstruction of Rice Street is not specifically covered in the existing policy because the project involves the reconstruction of the already urban street section to a new urban street section where all assessable frontages are commercial. The policy currently only addresses the method of assessing residential properties in this case stating "the affected property owners will be assessed at the residential assessment capped rate for an urban section street". It is our recommendation that the City adopt an urban commercial assessment policy similar to the residential policy in that the commercial properties be assessed at the capped commercial assessment rate for an urban section street. -6-