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November 10, 2008 Item No. 7C <br />Page 5 <br />The amount to be assessed cannot be determined until the bids for a construction contract <br />have been received. The assessment would be certified to the County as soon as <br />possible following approval of the resolution. The interest on the assessment would begin <br />accumulating upon certification. Anticipating that the assessment is certified to the County <br />in March 2009, approximately 9 months of interest would accumulate on the assessment <br />for calendar year 2009. The first payment on the assessment would be received with the <br />property taxes for calendar year 2010. <br />Next Steps <br />Based on the history of this issue and the Agreement that is currently in place, it is not <br />necessary to update the Feasibility Report for the improvements to Lake Court Drive and <br />Lake Court Circle. The appropriate next step in the public improvement process would be <br />to order the project and authorize the preparation of the detailed construction documents, <br />which consist of the plans and specifications. The construction documents would be <br />brought back to the City Council for approval and authorization to proceed with bidding for <br />the construction contract. <br />It is proposed to combine the improvements for Lake Court Drive and Lake Court Circle <br />with the 2009-2010 Street and Utility Improvement Project. The projects will share many of <br />the same specifications, resulting in a saving for project design cost. In addition, more <br />favorable construction bids should be received for the improvements to Lake Court Drive <br />and Lake Court Circle if it is combined with a larger project. <br />If the public improvement project for Lake Court Drive and Lake Court Circle is ordered at <br />this time, its schedule should be compatible with the 2009-2010 Street and Utility <br />Improvement Project. No delay is anticipated to the schedule for the 2009-2010 Project <br />due to the addition of Lake Court Drive and Lake Court Circle. <br />Schedule <br />If the public improvement project for Lake Court Drive and Lake Court Circle is ordered on <br />November 10, 2008, following is the anticipated project schedule: <br />Action Date <br />Order Project November 10, 2008 <br />Approve Plans, Set Bid Date, & Authorize <br />Combining with 2009-2010 Project Dec. 8 or 22, 2008 <br />Bids Received January 22, 2009 <br />Adopt Assessment Resolution February 9, 2009 <br />Award Construction Contract February 9, 2009 <br />Begin Construction May 2009 <br />Construction Complete Oct / Nov 2009