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The estimated total project costs listed in Table 2 include the additional trail improvement scope, additional wetland permitting, and additional application for a potential RCWD grant identified through the feasibility study process. While City standard process includes an estimated percentage - based method of estimating overhead and contingencies, the actual estimated additional trail design, wetland permitting, and grant application costs are $23,000 and the estimated additional trail construction costs is $130,000, both of which are accounted for in Table 2. It is planned to bid the project with multiple bid alternates for the pond dredging work and trail and retaining wall work. This will allow flexibility to include or remove these items from the project based on the actual prices bid by the contractor to complete the work. VIII. ASSESSMENTS AND FUNDING Assessments for street improvement costs are proposed to be levied to benefiting properties as outlined in Minnesota Statute 429 and the City of Arden Hills Assessment Policy. A preliminary assessment roll was compiled for all adjacent benefitting properties per the City's assessment policy and is included in Appendix C. All identified properties were proposed to be assessed at a calculated assessment rate of 50% of the street project costs. The street project costs were split between reclamation improvements and mill & overlay improvements. Each property eligible for assessment was identified as either a reclamation property or a mill and overlay property based on their street address. Assessments for the proposed street improvements were calculated using the Residential Equivalent Unit (REU) method as outlined in the City's assessment policy. The assessable costs for each improvement type were divided by the number of eligible REU's to determine an assessment rate for each improvement type. Calculations for the estimated assessment rates are provided below: Reclamation Areas 50% Estimated Street Project Costs = $486,800 Residential Equivalent Units = 86 Assessment Rate = $5,660 Mill & Overlay 50% Estimated Street Project Costs — $248,750 Residential Equivalent Units = 69 Assessment Rate = $3,605 The preliminary assessment roll does not assign an REU to properties abutting the street improvements if their property address is for another street that is not receiving the street improvements, regardless of driveway access location, etc. in accordance with the city's assessment policy. Additionally, the project area includes a few unique property situations as it relates to the city's assessment policy. The 1423 Floral Drive (the Floral Park property owned by the City of Arden Hills), 1445 Floral Drive, and 1465 Floral Drive properties are not included in the preliminary assessment roll. Although they have frontage along Royal Drive which is a project street, in accordance with the assessment policy, their street address is not a project street. Also, these three properties were all assessed as part of the 2018 PMP project, which included Floral Drive. The 4539 Keithson Drive and 1370 Colleen Avenue properties are both identified as 2 REU's in the preliminary assessment roll because their lot sizes are considered subdivisible, in accordance with the city's assessment policy. Prepared by: Bolton & Menk, Inc. 2024 PMP Street & Utility Improvements I OT1.130168 ASSESSMENTS AND FUNDING Page 10