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City of Mounds View Staff Report <br /> October 2, 1997 <br /> Page 2 <br /> • <br /> Bronson Dr. Current 50% 40% 35%. 30% - 25% <br /> Project costs 30 ft road <br /> $324,124 $162,062 $129,650 $113,433 $97,237 $81,031 <br /> Levy/+funds 10.8 Levy 12.6 Levy 14.05 Levy 15.13 Levy 16.21 Levy <br /> required $162,062 $194,474 $210,691 $226,887 $243,093 <br /> Ave. 75' $38.10/FF $30.48/FF $26.67/FF $22.86/FF $19.05 /FF <br /> Frontage lot $2,857 $2,286 $2,000 $1,715 $1,429 <br /> Storm Sewer $400 $400 $400 $400 $400 <br /> Total Assess $3,257 $2,686 $2,400 $2,115 $1,829 <br /> 1% increase in the levy will generate approximately$15,000.00 <br /> Sewer Main replacement assessment $1,447.00 <br /> Sewer Service replacement assessment $ 772.00 <br /> Listed below are the current assessment formulas: • <br /> Assessment cost percentages <br /> Street reconstruction 50% of 30 feet <br /> Sidewalks 0% <br /> Water and Sewer Mains replacement 50% <br /> New Water& Sewer Mains Installed 100% <br /> Water and Sewer Service Laterals 100% to benefitted properties <br /> Surface Water Improvements $400/single family, $1,200/multi-family&Commercial <br /> While citizens are requesting further revision of the assessment policy it is important to keep in <br /> mind the means of funding public improvements. Lowering the existing percentage assessed will <br /> increase the tax burden to the remainder of the community, if projects such as road <br /> reconstruction were to be funded primarily from the general fund. Without the aid of turnback <br /> funds and MSA funding to create a small reserve account to cash flow future projects,the City <br /> could be faced with higher tax levies if and when they might be possible, or bonding projects <br /> resulting in possibly higher assessment payments per year to pay back the bonds. <br /> • <br /> • <br />