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Page 2 of 2 <br /> <br />Further analysis of the low bid; adding overhead according to the City’s Assessment Policy and <br />dividing it into the cost for the two specific neighborhoods results in the following total project <br />costs: <br /> <br /> $3,719,403.67 Total Project Cost for the Venus/Crystal Neighborhood <br /> $1,493,126.36 Total Project Cost for the Grant/Noble/Lake Lane Neighborhood <br /> <br />Each of these total project costs were then analyzed for the assessable cost which as described in <br />the City’s Assessment Policy is half of the street project cost. The results of this analysis is as <br />follows: <br /> <br /> Venus/Crystal Neighborhood Assessment Rate of $8,614.27 per unit as compared to the <br />Feasibility Report estimate of $11,450. <br /> Grant/Noble/Lake Lane Neighborhood Assessment Rate of $5,563.07 per unit as <br />compared to the Feasibility Report estimate of $6,600. <br /> <br />In order to move both of these projects forward, it would be appropriate for the Council to <br />consider adopting the attached four resolutions. The first, Resolution 2015-015 (Attachment B) <br />Declares the Cost to be Assessed and Orders the Preparation of the Assessment Rol l. The <br />second, Resolution 2015-016 (Attachment C) Sets the Date for the Assessment Hearing as April <br />27, 2015 for the Venus/Crystal Neighborhood. The next two Resolutions (attachment D & E) do <br />the same for the Grant/Noble/Lake Lane Neighborhood with the Hearing date of May 4, 2015. <br />Staff recommends adoption of all four Resolutions. <br /> <br />It should be noted that in discussions with City Attorney Joel Jamnik it was his suggestion to <br />hold the two Assessment Hearings on separate nights due to the difference in proposed <br />assessment rates. In order to get the project to construction as early as possible staff is <br />suggesting a special Council meeting on May 4th after the regularly scheduled JDA meeting for <br />the Grant/Noble/Lake Lane Assessment hearing. The attached Resolutions reflect this special <br />meeting date. <br /> <br />Attachments <br /> <br /> Attachment A: Bid Tabulation <br /> Attachment B: Resolution 2015-015 <br /> Attachment C: Resolution 2015-016 <br /> Attachment D: Resolution 2015-017 <br /> Attachment E: Resolution 2015-018