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04-12-21-R
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04-12-21-R
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4/8/2021 2:52:22 PM
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Page 2 of 2 <br /> <br />The calculation of the amount to be assessed as approved by Council Resolution 2021-013 is <br />shown below. Also, the Council established that the interest rate would be 3.15% and the term <br />would be 10 years. <br /> <br /> <br /> <br />STREET RECONSTRUCTION <br />Item Calculation Result <br />Half of Construction Cost $874,637.97/2 $437,318.98 <br />Add 27% Overhead $437,318.98 x 1.27 $555,395.11 <br />Divide by Assessable Units $555,395.11/80 $ 6,942.44 <br /> <br /> <br />STREET RECLAMATION <br />Item Calculation Result <br />Half of Construction Cost $231,278.11/2 $115,639.06 <br />Add 27% Overhead $115,639.06 x 1.27 $146,861.60 <br />Divide by Assessable Units $146,861.60/58 $ 2,532.10 <br /> <br />The full detailed assessment roll is attached as Exhibit B. <br /> <br />To date, no formal objections have been submitted in writing to City staff. Any written objection <br />received prior to Monday evening will be provided to the City Council at the assessment hearing. <br /> <br />As provided for in State Statute, no appeal may be taken as to the amount of any assessment <br />adopted unless a written objection signed by the affected property owner is filed with the City at <br />or prior to the assessment hearing. After the adoption of the assessment roll, property owners who <br />have submitted an objection in writing have 30 days to serve notice of an appeal to the City, and <br />within 10 days after serving notice to file with the District Court. <br /> <br />Recommendation <br /> <br />The Council should hold the Assessment Hearing first. After the Assessment Hearing is closed <br />and as part of New Business, Council should consider adopting Resolution 2021-020 Adopting the <br />Assessment Roll for the 2021 PMP Street and Utility Improvement Project with any changes they <br />deem appropriate. <br /> <br />Following the assessment hearing, also under new business, staff will be recommending award of <br />the contract to C&L Excavating as the lowest responsible bidder. <br /> <br />Attachments <br />Attachment A: Assessment Area Map <br />Attachment B: Assessment Roll <br />Attachment C: PowerPoint <br /> <br />
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