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<br />I <br />'- Based on this assessment rate, the City share of the estimated total project cost is $146,950. <br /> The City's budget is $150,000 for this project. Should bids received be more favorable than <br />I estimated, it would be possible to add other streets. As discussed in the previous section, streets <br />I added to the seal coat portion of the project would not require additional public hearings. Ifbids <br /> received are higher than anticipated, it would be necessary to eliminate streets. <br />I In 1991, the estimated assessment rate in the Feasibility Study was $3.44 per adjusted front foot. <br />I Following the bidding process, however, the actual assessment rate was reduced to $2.64 per <br /> adjusted front foot. As was done in 1991, a resolution will be proposed for City Council review <br />I to establish the 1993 residential equivalent assessment rate after bids are received. No <br /> commercial equivalent assessment rate is necessary for this project. <br />I A detailed estimated assessment cost is provided in the appendix of this Feasibility Study for <br />I each of the abutting and benefitting property owners on streets to receive bituminous overlay <br /> improvements. This preliminary assessment roll lists each property owner, the total adjusted <br />. front footage for each property, and the estimated assessment cost for each property. <br />I As detailed in the City's Assessment Manual, no assessments are proposed for seal coat <br /> improvements as this work is a maintenance procedure funded by the City. <br />I <br /> Through the project specifications, the City shall retain the right to add or delete streets from <br />I bituminous overlay or seal coat improvements to match the available budgeted funding. <br />I PROJECT SCHEDULE <br />I The following project schedule is proposed for the 1993 Pavement Maintenance Improvements <br /> Project: <br />I Receive Revised Feasibility Study, Order Public Hearing, March 8, 1993 <br /> and Order Plans and Specifications <br />I Approve Plans and Specifications and Advertise for Bids March 8, 1993 <br />r <br /> Receive Bids Arpil 6, 1993 <br />I Fl!AS-S20.039 -6- S:IDm9-IO <br />