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Page 2 of 2 improvement hearing. The purpose of the improvement hearing is for the City Council to discuss a specific local improvement before ordering it done. The second public hearing is the assessment hearing which will be scheduled after the project has been completed and the actual costs to construct the improvements have been determined. This provides property owners an opportunity to express concerns about the actual special assessments. At the improvement hearing, interested persons may voice their opinion regarding the proposed project improvements and whether or not they are in the proposed assessment area. A reasonable estimate of the total amount to be assessed and the description of the methodology used to calculate individual assessments for affected parcels is contained within the feasibility report. Pursuant to Minnesota Statutes, Chapter 429, notices of the public hearing were published in the Pioneer Press on August 10, 2021 and August 17, 2021. A notice was also mailed to each property within the draft assessment roll area on August 10, 2021. Prior to opening the hearing, City staff will present general information regarding the scope of the proposed improvements, the overall cost and funding for the project, and assessments that apply for this project. The proposed improvements are generally summarized below and described in greater detail within the feasibility study report provided in Attachment B. The 2013 Master Planned Unit Development (PUD) agreement, Attachment C, for the Lexington Station commercial site includes access and cost participation requirements related to the proposed Target Road traffic signal. The master PUD agreement states that full development of the Lexington Station commercial property will include a new access driveway aligned with Target Road to replace the current access point along Lexington Avenue. The new access is required to include the proposed traffic signal at Target Road based on a completed traffic study. The master PUD agreement further requires the developer of the Lexington Station site to pay for or accept an assessment against the project property for the cost of the access improvements, including the traffic signal. Budget Impact The total fee for the feasibility report is $5,570.00. The City of Shoreview has agreed to split the cost, therefore, the City of Arden Hills fee total is $2,785.00 From the feasibility report, the total estimated improvements costs for the traffic signal is $191,385.00. To date the City has also incurred some other legal and engineering costs attributed to this project in the amount of $4,746.75. This brings the total estimated costs to $198,916.75. All costs for this improvement are assessed to the benefitting properties as outlined on pages 5 through 7 of the feasibility report. Attachments Attachment A – Presentation Slides Attachment B – Feasibility Report – Alliant Attachment C – Master PUD Agreement