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CCP 07-31-2006
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CCP 07-31-2006
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<br />2006 PMP <br />7/27/2006 <br />Page 2 <br /> <br />. <br /> <br />FINANCIAL IMPLlCA nONS <br /> <br />The projcct is proposed to be assessed consistent with the City's assessment policy, which states that 50% <br />of the costs for roadway improvements will be assessed, with the remaining portion financed by various <br />City funds. A detailed assessment roll will be presented at the assessment hearing. <br /> <br />The preliminary assessment roll presented in thc feasibility report for this project listed 62 properties with <br />frontage abutting the streets to bc reconstructed. Scveral other propertics wcrc listed for discussion as to <br />whcther they should bc included in the asscssment roll. Based on staff review and council discussion at <br />past work sessions, these properties were not included in the proposed assessment roll. Thc proposed <br />asscssment roll nndcr consideration contains the 62 propcrtics originally listed in the feasibility report. <br /> <br />The assessment policy states that the assessment shall be based on the total estimated construction cost, <br />plus associated overhead costs. The policy also states that the City Council shan retain the right to review <br />each project on its own merit and to deviate from any portion of the Assessment Policy Manual as it <br />deems proper. Since we arc already into the construction proccss, we have contractor's bid prices, and <br />could use these in place of the estimated construction costs, <br /> <br />Three options are described below, which show the assessment rate per lot, as well as the total amount of <br />the project to be paid by the City out of the General and Enterprise (Watermain, Sanitary Sewer, and <br />Storm Sewer) Funds. Option I is to base the asscssment on the contractor's bid prices, which would be a <br />deviation from the assessment policy. Option 2 is hascd on the engineer's estimate, which would be <br />following the assessment policy as written, Option 3 is based on the feasibility cstimate, also a deviation <br />from the assessment policy. The assessment rate listed in Option 3 is thc one that had been providcd to <br />residents at earlier neighborhood meetings during the preparation for this project. <br /> <br />. <br /> <br />- <br />Option Assessment rate per unit Total received in assessments Total funded bv the City <br />1 $9,831.87 $609,575,94 $1,478,118.22 <br />2 $9,215.64 $571,369,68 $1,516,324.48 <br />3 $8,800.00 $545,600.00 $1,542,094.16 <br /> <br />SCHEDlJI"E <br /> <br />Assessment rolls must be adopted no later than September 25, 2006, to allow for a 30-day pre-payment <br />period. Following the pre-payment pcriod, assessment rolls are certified to Ramsey County for <br />collection. The County requires that this certification be done by November 15 in order to allow them <br />enough time to add the asscssments to property taxes. The City plans to complete the certification by the <br />end of October. As a result, we recommend the following schedule for the 2006 assessment process: <br /> <br />July 31 <br /> <br />Resolution declaring costs to be assessed, ordering preparation of assessment <br />rolls <br /> <br />July 31 <br /> <br />Resolution receiving assessment rons, setting hearing dates <br /> <br />. <br /> <br />Angust 9 <br /> <br />Notice of hearing publishcd in the Shoreview-Arden Hills Bulletin <br />
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