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Page 5 of 5 <br /> <br /> <br /> Alternative 2 - Reclamation <br />Funding Source Cost <br />Residential Assessments $ 963,795 <br />PIR Fund $ 963,795 <br />Sanitary Sewer Enterprise Fund $ 88,920 <br />Watermain Enterprise Fund $ 637,000 <br />Surface Water Management Fund $ 312,000 <br />Total Funding <br /> <br />$2,965,510 <br /> <br />Assessments <br />As detailed in the feasibility report, two preliminary assessment rates have been <br />established; the first for alternative one, Reconstruction and the second for alternative <br />two, Reclamation. Based on 123 residential equivalent unit (REU), and the estimated <br />street improvement costs, the estimated assessment rate per REU is $11,450 for <br />Alternative 1, Reconstruction and $7,850 for Alternative 2 Reclamation. <br /> <br />Neighborhood Survey Results <br />A survey was conducted to solicit input from the neighborhood on a few key items. The <br />results of the survey are included in Appendix G of the Feasibility study. As of <br />December 8, 2014 there were 63 responses to the survey out of 123 properties proposed <br />to be assessed. One question dealt with the preferred type of roadway rehabilitation. Of <br />those responding to this question, 54% favored the reconstruction option. Another <br />question dealt with storm water treatment, of those responding to this question, seventeen <br />properties indicated a willingness to have a rain garden or participate in the maintenance <br />of a rain garden. <br /> <br />Resident Comments/Concerns <br />Resident comments received in the survey are included in the feasibility study in <br />Appendix G. Any additional comments received after the council packet is issued and <br />prior to the public hearing will be provided at the public hearing. <br />Council Actions Requested <br /> Hold the Public Improvement Hearing for the 2015 Pavement Management <br />Program – Venus / Crystal Neighborhood <br /> Provide staff with street improvement criteria - (reconstruction or reclamation) <br /> Adopt Resolution 2015-001 Ordering the Improvement and preparation of plans <br />and specifications. <br /> <br />Attachments <br /> Attachment A - Feasibility Study for the 2015 Pavement Management Program – <br />Venus / Crystal Neighborhood <br /> Attachment B - Resolution 2015-001