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As per Resolution No. 6244 adopted on May 10, 2004, the amount to be <br />assessed to the Mounds View Manufactured Home Park will be determined by <br />taking the total project cost, multiplying it by 37.7 percent, then subtracting the <br />grant amount multiplied by 37.7 percent. <br /> <br />Assessments shall be payable in equal annual installments extending over a <br />period of ten (10) years, the first of the installments to be payable on or before <br />the first Monday in January, 2005, and shall bear interest at the rate of 5.0 <br />percent per annum from the date of the adoption of the assessment resolution. <br /> <br />Therefore, estimated assessment for the Mounds View Manufactured Home Park <br />is: ($59,785.25 Total Estimated Project Cost X 0.37) minus ($30,000.00 CDGB <br />Grant X 0.37) = $22,120.54 - $11,100 = $11,020.54. The actual assessment will <br />be based on the final project cost. <br /> <br /> <br />Alterna tives <br />Alternatives would be to <br />1.) Not award this contract and use the Redstone Construction bid <br />$41,721.70 without utilizing the CDBG Grant <br />2.) OR not award the contract and cancel the project. <br /> <br />Staff recommends that the City Council award a contract to Hardrives <br />Incorporated for the Mounds View Manufactured Home Community Second <br />Access Project. <br /> <br /> <br />Recommendation: <br />It is recommended the Council adopt the attached resolution awarding the <br />construction contract to Hardrives Incorporated for the Mounds View <br />Manufactured Home Community Second Access Project. <br /> <br />Respectfully Submitted, <br /> <br /> <br />Greg Lee, Director of Public Works <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />