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Page 2 of 2 <br /> <br />A copy of the feasibility report was distributed to Council members on July 7 to allow extra time <br />to review the document. The final version of the feasibility report provided in Attachment B is <br />substantially the same, but includes one notable change based on comments received on the draft <br />report. Section 5 and Appendix H have been amended to provide information related to special <br />assessments based on two alternatives of either including or not including the street costs for Prior <br />Avenue into the estimated assessment rates for properties located on Jerrold, Edgewater and <br />Glenpaul Avenues. Appendix H provides two separate draft assessment roles, one including the <br />street costs for Prior Avenue and one excluding the street costs for Prior Avenue. <br /> <br />Resolution 2020-029 receives the feasibility report and orders the public hearing be held on <br />September 14, 2020 (provided as Attachment A). Staff recommends adoption of the resolution in <br />order to have this project proceed to a public hearing. If adopted, staff would mail notices to each <br />property owner in the proposed assessment area stating the time of the hearing, the general nature <br />of the improvements, the estimated project cost, the proposed assessment area, and an estimate of <br />the assessment amount. <br /> <br />Budget Impact <br />This project has financial implications for the City including the following: <br />1. Assessments levied in accordance with the Assessment Policy <br />2. Use of Permanent Improvement Revolving (PIR) Funds for the portion of the street <br />improvement not assessed <br />3. Use of Utility Enterprise Funds for improvements to the existing utility systems and <br />expansion of the storm water system. <br /> <br />The following table provides the estimated costs for the proposed project. Proposed funding <br />sources are described within Section 5 of the Feasibility Report. <br /> <br />2018 Street and Utility Improvement Project <br />Summary of Cost <br />Improvement <br />Estimated <br />Reclamation Area <br />Cost <br />Estimated <br />Reconstruction Area <br />Cost <br />Street Improvements $346,170 $1,666,453 <br />Sanitary Sewer Improvements $18,675 $518,100 <br />Water Main Improvements - $679,959 <br />Storm Sewer & Drainage Improvements - $577,162 <br />Total Estimated Project Cost by Area $364,845 $3,441,674 <br />Grand Total $3,806,519 <br /> <br />Attachments <br />Attachment A: Resolution 2020-029 <br />Attachment B: Feasibility Report