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Page 3 of 3 * Initial estimate subject to revisions during design phase The $3.1 million project estimate is for BASE improvements only and does NOT include costs for the sediment removal operations or the pump system improvements. Those costs will need to be added above and beyond that budgeted number. The improvements for this project are anticipated to include funding derived from special assessments. The special assessment process must follow the City’s current special assessment policy and maintain compliance with the requirements of Minnesota Statutes 429. A preliminary assessment roll is prepared as part of the feasibility report, and can be reviewed within Attachment A, Appendix C. The policy states that the City will assess fifty percent of the costs associated with bituminous overlay for a typical residential street section and seventy percent of the street project costs for commercial/industrial properties on a unit basis. A general benefit appraisal is in progress and will provide additional information for council to consider when setting the assessment rates on the project. The anticipated special assessments for residential properties are estimated to be $3,880 for mill & overlay areas and $5,850 for full-depth reclamation areas. For reference, the 2022 PMP for full-depth reclamation was $4,958 for properties along Old Snelling and $5,834 for properties in the Arden Oaks neighborhood. The 2024 PMP for full-depth reclamation was $6,045 and for mill & overlay was $2,874. Attachments Attachment A – Draft Feasibility Report Attachment B – Presentation slides Category 2025-2029 CIP Proposed 2026 CIP Initial Estimate Streets/Trails $1,690,000 $2,100,000 $2,041,000 Storm Drainage $500,000 $500,000 $395,000 Sanitary Sewer $145,000 $200,000 $186,000 Water Utility $120,000 $500,000 $467,000 TOTAL $2,485,000 $3,300,000 $3,089,000