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to be Assessed and set today as the date for the assessment hearing. A public hearing prior to <br />adopting the assessments is a requirement of the State Statute 429. <br /> <br />practices, which states that 50% of the costs for roadway improvements will be assessed in <br />residential areas, with the remaining portion financed by City funds. Financing for the project is <br />consistent with City policy and past practices and is summarized in the table below. The project <br />costs include engineering and overhead costs as outlined in the Assessment Policy. <br /> <br />Item Low Bid Plus Overhead Funding Source <br />Sanitary Sewer $68,636.24 Sanitary Sewer Utility Fund <br />Water $233,282.21 Water Utility Fund <br />Surface Water Drainage $208,285.53 Surface Water Management <br />Utility Fund <br />Street $427,319.28 PIR/Assessment <br />TOTAL $937,523.26 <br /> <br />The calculation of the amount to be assessed as approved by Council Resolution 2013-017 is <br />shown below. Also, the Council established that the interest rate would be 3.80% and the term <br />would be 7 years. <br /> <br />Item Calculation Result <br />Half of Construction Cost $311,911.88/2 $155,955.94 <br />Add 37% Overhead $155,955.94 x 1.37 $213,659.64 <br />Divide by Assessable Units $213,659.64/48 $ 4,451.24 <br /> <br />The Assessment Policy states that the City Council shall retain the right to review each project <br />on its own merit and deviate from any portion of the policy as it deems proper. As was discussed <br />briefly with the City Council there are several properties in the project that are bisected by the <br />Arden Hills/Roseville corporate border. These properties were assessed for a portion of a <br />previous street improvement project in 2008 by the City of Roseville. The attached exhibit shows <br />these properties and the following list discusses each one individually. <br /> <br /> Parcel A (3120 Asbury Avenue N) <br />1. <br /> This parcel has street frontage both in Roseville (34.54 Feet) and Arden Hills (65.46 <br /> Feet). In 2008, this parcel was assessed $784.82 for the Roseville street improvement. <br /> This parcel requested that concrete curb and gutter be extended across its entire frontage <br /> with the 2013 PMP which was added to the project at a cost of $886.23. (an email <br /> correspondence is attached) <br />Staff recommendation is to assess this parcel the full amount of $4,451.24 since the <br /> <br /> requested additional concrete curb and gutter is approximately equal in cost to the <br /> previous 2008 Roseville street assessment. <br /> <br /> <br />2.Parcel B (3111 Ridgewood Road) <br />24 <br />Page of <br /> <br />