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Lake Street Improvements <br />(Property Owners Proposal) <br />Discussions <br />• Appreciate Council considering residents concerns <br />• Staff very cooperative & willing to discuss alternatives <br />Process <br />• Left original public hearing with $70+ /ft <br />• Residents proposed alternative w/ curb & gutter at $ 25/ft <br />• Staff investigated alternatives <br />• Residents now propose Grind & Overlay at $35 /ft <br />• Based on 1/2 of original cost <br />• Based on 1/2 of design life (20 vs 10 years) <br />Main Issue - Curb & Gutter <br />• Required to significantly increase property value <br />• Staff reluctant to recommend w/o complete reconstruction <br />Concerns <br />• Not unanimous opinion <br />• 8 of 11 property owners support Grind & Overlay <br />• 2 would prefer Patch & Overlay <br />• 1 satisfied with current condition <br />How to achieve target cost? <br />• Reduce project cost <br />• Increase City participation <br />• Combination <br />• Other <br />Summary <br />• Productive process to date <br />• What is the next step? <br />Page 1 <br />1/25/93 <br />