#12 - 2025 Street Improvements - Laserfiche WebLink

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55th Street / 57th Street / Julep Way Neighborhood: • 55th Street North, from 57th Street to the north cul-de-sac (Judith Mary Manor). • 57th Street North, from 55th Street to Julep Way (Rolling Hills Estates). • Julep Way North, from 57th Street to the south cul-de-sac (Lake Elmo Vista). Lake Elmo Vista (55th Street): • 55th Street North, from Keats Avenue to the west cul-de-sac. Prairie Hamlet Neighborhood: • 59th Street Court North, from Keats Avenue to the west loop. The proposed improvements in all five areas include a full depth reclamation of the street pavement section, with new bituminous pavement and installation of concrete curb and gutter. Storm sewer maintenance items are included in the scope including cleanup of outlet pipes, ditch grading, draintile installation, extension of storm sewer pipe, and replacement of catch basins as recommended in the design documents. No street widening or geometric changes are proposed. It is recommended that “No Parking” signage be installed in accordance with the City’s Parking Restriction Guidance Policy as presented to the City Council with the preliminary design findings and recommendations. The reports include an estimate of total project costs for each neighborhood. The proposed street and drainage improvements would be partially assessed against the benefiting properties consistent with the city’s Special Assessment Policy. Street and drainage improvements are assessed at a rate of 30% of the total project costs for residential properties using a unit method. The remaining 70% of the project costs are paid through the city general fund. Residential properties with direct access to the street, vacant lots, and lots with direct access from a private street are included as benefitting properties. Each property is assessed one unit unless the property can be subdivided using the current underlying land use and zoning regulations. Corner lots with direct access to two public streets are assessed 50% of the per unit basis when each street is improved. Street and drainage improvement assessments are levied over a 15-year period. All assessments are charged an interest rate of 1% over the bond rate for the project. The preliminary assessment rolls detailing each benefiting property’s proposed assessment amount are included in the Appendix of this report with are summarized below. Table 1: Project Costs and Proposed Assessments Neighborhood Total Estimated Project Costs City Share of Project Cost Proposed Unit Assessment Total Assessment Revenue Irish Court $248,000 $173,100 $10,700 for 7 units $74,900 Teal Pass Estates $759,000 $531,500 $17,500 for 13 units $227,500 55th St / 57th St / Julep Way $757,000 $529,800 $14,200 for 16 units $227,200 Lake Elmo Vista (55th St) $408,000 $285,350 $22,300 for 5 units $11,150 for 1 unit $122,650 Prairie Hamlet $437,000 $305,250 $7,750 for 17 units $131,750 Totals $2,609,000 $1,825,000 $784,000