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Phase
<br />Streets
<br />Total Length (Feet)
<br />Estimated Cost
<br />I
<br />Hokah Dr, Rice Ct, Totem Tr,
<br />Arrowhead Dr, Tomahawk Tr,
<br />Tomahawk Ct, Chippewa Tr,
<br />Arrowhead Ct
<br />10,535
<br />$3,009,125
<br />II
<br />West Shadow Lake Drive, Shadow Ct,
<br />LaMotte Dr, LaMotte Circle
<br />10,643
<br />$3,040,015
<br />III
<br />815` St, Danube St, Elbe St, Red Maple
<br />Ln, Holly Dr, Holly Ct
<br />10,441
<br />$,2,982,179
<br />IV
<br />Oak Ln, Knoll Dr, Joyer Ln, Karth Rd,
<br />Talle Ln, Canfield Rd, Gaage Ln
<br />9,735
<br />$2,780,598
<br />V
<br />77th St, Gordon Ave, Rehbein St,
<br />Peltier Lake Dr, James St
<br />11,229
<br />$3,207,139
<br />Total
<br />52,583
<br />$15,019,056
<br />The estimated costs detailed above do not include any replacement or installation of new
<br />watermain or sanitary sewer. If the residents of these neighborhoods would like to have
<br />sanitary sewer or watermain installed as part of a street reconstruction project they will need to
<br />petition for these improvements and agree to be assessed 100% of the cost. Costs associated
<br />with the replacement or repair of existing water and sanitary sewer utilities would be covered
<br />by the City's utility fund.
<br />The timeline for completing the plan phasing is dependent on the determination of a debt
<br />structure acceptable to the council. Springsted Inc. has prepared preliminary debt service
<br />schedules based on bond issuance of 10, 15, and 20 years. A 15 year schedule would result in
<br />annual debt service of approximately $269,000 based on a $3,000,000 project.
<br />Staff has worked with WSB, Springsted Inc. and the City's bond counsel Kennedy and Graven,
<br />to refine the plan to meet the provisions of Minnesota Statutes 475. Approval of the plan
<br />would allow for the City to consider proceeding with a project in 2015 regardless of the
<br />outcome of the proposed charter amendment.
<br />At this time staff is proposing consideration of a street reconstruction plan schedule that
<br />includes the first two project phases over the next five years as follows:
<br />Phase
<br />Streets
<br />Total Length (Feet)
<br />Estimated Cost
<br />2015
<br />Hokah Dr, Rice Ct, Totem Tr,
<br />Arrowhead Dr, Tomahawk Tr,
<br />Tomahawk Ct, Chippewa Tr,
<br />Arrowhead Ct
<br />10,535
<br />$3,009,125
<br />2019
<br />West Shadow Lake Drive, Shadow Ct,
<br />Sandpiper Drive, LaMotte Dr, LaMotte
<br />Circle
<br />10,643
<br />$3,040,015
<br />If the plan is approved by the City Council residents will have 30 days from the date of the
<br />meeting (July 23, 2014) to petition for the plan to be placed on the 2014 Election Ballot for
<br />consideration. 1575 votes were cast in the 2013 election. A petition signed by 79 eligible
<br />voters would be needed to require the election. If no petition is received the council may move
<br />forward with project development and financing.
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