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Howard R. Green Company <br />Project No. 815920J <br />Feasibility Study <br />2002 Street Reconstruction and Utility Improvements <br />Little Canada, Minnesota <br />The estimated cost for the proposed reconstruction of Ryan Drive is <br />$103,200. For this street, 100% of the project cost will be assessed to the <br />adjacent properties. The same formula that was used in 1993 will be used to <br />assess these properties, however, the City proposes not to participate in <br />paying for these street improvements. 50% of the cost will be based on <br />assessable front footage, of which there is a total of 5441.25 feet. The other <br />50% will be based on lot area, of which there is a total of 1,129,989 square <br />feet. A preliminary assessment roll has been prepared and is shown in <br />Appendix C. <br />Table 2 summarizes the total project cost that will be borne by the City and the <br />cost that will be assessed to the benefited properties. A preliminary assessment <br />roll has been prepared and is shown in Appendix C. It includes the assessments <br />for both the watermain and street reconstruction. <br />Table 2 <br />City Costs vs. Assessable Costs <br />STREET <br />CITY COST <br />% CITY <br />ASSESSED COST <br />% ASSESSED <br />ELI ROAD /DESOTO ST. <br />$266,091.43 <br />60% <br />$181,001.77 <br />40% <br />SEXTANT AVENUE <br />$284,510.45 <br />85% <br />$49,453.63 <br />15% <br />STARK STREET <br />$190,437.90 <br />66% <br />$100,062.10 <br />34% <br />MARKET PLACE DRIVE <br />$1,060,713.04 <br />79% <br />$289,286.96 <br />21% <br />RYAN DRIVE <br />$0 <br />0% <br />$103,200.00 <br />100.0% <br />TOTAL <br />$1,801,795.54 <br />71.4% <br />$723,004.46 <br />28.6% <br />XII. SUMMARY <br />The project is feasible from an engineering standpoint and meets all standards set forth <br />by the City. The reconstruction of these six streets would be another step in improving <br />the street infrastructure within Little Canada and advancing the pavement management <br />program. <br />XIII. CONCERNS <br />The following are any issues or items that need action by the City Council. <br />ASSESSMENT RATES <br />A. INCREASE TO MAXIMUM ASSESSMENT RATES <br />The following maximum assessment rates have been proposed by City Staff. All <br />rates have been increased slightly from 2001 due to inflation. <br />• Maximum Residential Street Rate $48.50 per front foot <br />• Maximum Commercial Street Rate $86.75 per front foot <br />• Maximum Watermain Assessment $5,340.85 per lot <br />• Reduction to Maximum Residential Street Rate* ($1.50) per front foot <br />*The reduction would be applied if seed is used for restoration instead of sod. <br />12 <br />PAGE 184 <br />