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Construction of Mainstreet USA <br />Street Construction $40,717 <br />Drainage 15,155 <br />TOTAL $55,872 <br />Assuming eleven (11) properties with an adjusted front footage of 100 <br />feet each, the assessment of 2/3, or .66 of the project per property <br />would be $3,352. The city's share of the individual lot <br />improvement would be $1,676, for a total improvement cost of <br />$5,028. the eleven total property owners would be responsible <br />for $36,875. The City's portion, .33 of the project costs would <br />be $18,438 for the entire project. <br />This estimate includes construction costs for a 32 foot wide, face to face, <br />bituminous street, with B618-concrete—curb and _gutter. A 3096 factor for <br />overhead and contingencies are also included. <br />If a street were merely reconstructed, with storm sewer the cost would be <br />approximately $3,352 plus interest. Costs for a 75 foot lot would be <br />approximately $2,514 plus interest. <br />Assessments will vary in costs to the City depending on the design of the <br />street. Adjusted front footage will vary in a cul de sac and depending on <br />the number of short side assessments. The project above is for a typical <br />straight street. <br />Staff has presented an assessment rate for council consideration, based on <br />reviewing policies and discussion with other municipalities. Should the <br />City Council feel that this rate is not acceptable or defendable, they may <br />adjust the percentages, funding projects with more or less general tax <br />funds, or monies available. The adoption of an assessment rate is strictly <br />a Council Policy decision. <br />Should Council have any questions or concerns that staff may answer, or <br />address prior to the meeting, please do not hesitate to call me. <br />chel Ulrich, Director of Public Works <br />