2020.01.06 CC Packet - Laserfiche WebLink

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5.2 Funding Funding for the project will be provided through assessments to benefiting properties, City Street Funds, and the City's Municipal State Aid Funds. Grant funding, if available, will be pursued for the project during final design. The proposed funding is outlined as follows: 2020 Goodview Avenue Improvement Project Option 1: Street Improvements — Match Existing Pavement Width (24-foot) Funding Assessments CIP/State Aid Funds Total Funding Street Improvements $166,000 $1,029,000 $1,195,000 Drainage Improvements $0 $125,000 $125,000 TOTAL $166,000 $1,154,000 $1,320,000 2020 Goodview Avenue Improvement Project Option 2: Street Improvements — Widen Roadway (26-foot) Cost Summary Assessments CIP/State Aid Funds Total Funding Street Improvements $166,000 $1,249,000 $1,415,000 Drainage Improvements $0 $125,000 $125,000 TOTAL $166,000 $1,374,000 $1,540,000 5.2 Preliminary Assessment Roll Assessments will be levied to the benefiting properties as outlined in Minnesota Statute 429 and the City's Assessment Policy. A detailed preliminary assessment roll is included in Appendix C. The assessment rate for roadway reclamation projects is as follows: ■ Rural Roadway Reclamation $3,400/unit Properties adjacent to the two roadways, will be assessed only for 1/2 of a unit per street. If only one of the roadways adjacent to a property is being reclaimed, the total assessment will be only 1/2 of a unit at this time. Similarly, properties with footage adjacent to three roadways, will be assessed 1/3 of a unit per street. If only one street is being reclaimed, the total assessment will be only 1/3 of a unit. There are 5 properties (east side of Goodview Avenue just south of Greystone Ave. N) using a shared driveway with their only access coming from Goodview Avenue. Consistent with past practices, each of these properties are also subject to the City assessment policy. 6. NECESSITY AND EFFECTIVENESS The improvements proposed in this study are necessary, cost-effective, and feasible. The reconstruction of the streets provides the City with a cost-effective means of continuing the City's street improvement efforts and providing an adequate means of transportation for local residents. These improvements will provide a longer lasting street section needing less maintenance over the expected service life. The proposed improvements constitute a project large enough to provide a competitive bidding environment, economy of scale, and are therefore deemed to be cost-effective. Feasibility Report 2020 Goodview Avenue Improvement Project City of Hugo, MN WSB Project No. R-014873-000 Page 6