CCP 09-08-1997 - Laserfiche WebLink

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, '. TABLE 4 II 1998 STREET RECONSTRUCTION AND MAINTENANCE IMPROVEMENTS PROPOSED RECONSTRUCTION FINANCING -. A. RESIDENTIAL STREETS STREET ESTIMATED COST ASSESSABLE ASSESSABLE PERCENT COST " Valentine Court $86,410 50010 $43,205 Fairview Avenue $226,340 50% $113,170 North Hamline $136.010 25% $34,002 , Avenue North Snelling $129,880 25% $32,470 Avenue III Indian Place $33,490 50% $16,745 Edgewater Avenue $260,620 50% $130,310 III Stowe Avenue $274,700 25% $68,675 Estimated Assessable Amount $438,577 Assessable Front Footage 8,570 FF ~. Estimated Residential Assessment Rate $51.l8/FF B. COMMERCIAL STREETS STREET ESTIMATED COST ASSESSABLE ASSESSABLE PERCENT COST West Round $1,213,920 35% $424,872 Lake Road , Estimated Assessable Amount $424,872 ~ .. Assessable Front Footage 3,200 FF -- Estimated Commercial Assessment Rate $ 132.77/FF ~ It has been asswned that the assessable percentage for North Hamline Avenue and North - Snelling A venue service roads is 25 percent based on the fact that assessable front footage exists on only one side of each of these roads. Therefore, the City's share for ~ these two roads is 75 percent of the estimated project cost. For Stowe Avenue, 50 - percent of the estimated project cost will be funded by the City of New Brighton with the remaining 50 percent of the cost being split between the City and assessments to abutting ~ property owners. - ----- West Round Lake Road is proposed to be assessed for 70 percent of the estimated project cost in accordance with the City's assessment policy for commercial streets. Because - there is only assessable property on one side of West Round Lake Road, the assessable - percentage was asswned to be half of the 70 percent, or 35 percent. The remainder of the cost will be funded with City funds. -. Table 5 below presents a cost and financing tabulation for the proposed improvements. -- FEAS.800-870 15 800870j.Q030