12/16/1996 Council Packet - Laserfiche WebLink

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utilities is assessed to properties at $33 per front foot for sanitary sewer and $23 per front foot for watermain. The assessments are proposed in a section of the City that is exempt from the City Charter and follows State Statute Chapter 429. Residential property owners that live in this exemption area can elect to petition against the project and not be assessed. Ken & Bernadine Skoglund and Joel & Elise Tagg have petitioned against the assessments and therefore will not be assessed the amounts noted above. Financing The estimated costs for the project are outlined in the feasibility report and are summarized below. The costs include 10% contingency allowance and 30% allowance for engineering, legal and financing costs. Improvement Cost Sanitary Sewer Watermain TOTAL $329,200 $253,300 $582,500 Project financing will follow the City of Lino Lakes policy on financing public improvements. Trunk costs, including oversizing of pipes and extra depth construction, are proposed to be funded by the City through the Area and Unit Fund. The remaining costs are proposed to be funded by special assessments to benefiting properties. The following is a summary of funding sources for the proposed project: Funding Source Special Assessments Area and Unit Fund TOTAL Project Schedule Amount $465,040 $117,460 $582,500 The proposed schedule for the project is as follows: Order Project Council Approves Plans Council Authorizes Ad for Bids Bid Opening Council Awards Bid Construction Begins Substantial Completion Assessment Hearing December 16, 1996 January 13, 1997 January 13, 1997 February 18, 1997 February 24, 1997 April 7, 1997 June 2, 1997 October, 1997 The February 24, 1997, Council action to consider award of a bid for this project is considered as the latest date that Council could decide not to go ahead with this project.