CCP 11-12-1996 - Laserfiche WebLink

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I ~ The costs associated with the Zone 4 improvements are presented in the following section of this report, PROJECT COSTS I The following tables present the costs associated with each type of improvement and total costs for each alternate. Construction costs were determined using comparable construction cost data I from 1996 with a 30% overhead factor to include City administration, engineering, and legal expenses. I 1997 Street hnprovements Estimated Seal Coat Project Cost $49,000 I Estimated Bituminous Overlay Cost $103,000 Estimated Bituminous Reclamation Project Cost $248,000 I Estimated Reconstruction Project Cost $310,000 TOTAL $710.000 I PROJECT FINANCING I. Seal Coat Financing The City's current assessment policy states that the application of a bituminous seal coat is a I maintenance procedure that is funded by the City. The estimated project cost to the City for the seal coating portion of the 1997 Street Improvements Project is approximately $49,000. I Overlay Financing I As outlined in the City's Assessment Manual, 50 percent of the total project cost of a bituminous overlay project may be assessed to all properties with frontage abutting a street to be overlaid. The assessment rate is calculated by determining the front footage of properties abutting the I overlay projects and dividing that length into one-half of the cost of the overlay portion of the project as follows: I Overlay Assessment Calculations I Item Zone 1 Estimated Bituminous Overlay Cost $103,000 , Estimated Assessable Amount (50% of Residential Street Cost) $51,500 Total Front Footage to be Assessed (divided by) 9,900 FF " Estimated Overlay Assessment Rate (Residential) $5.20 / FF , FEAS-520.080 -10- 520-080-10 ----- ------ ------------- - --------