CC 02-06-1978 - Laserfiche WebLink

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� ,�� MR. FLAHERTY: "Could somebody educate me on that?" MR. POPOt7ICH: "Procedurally, under the law and the local Improvemeat Code, the two stage phase is for determining feasibility, and we do that through an engineer's feasibility report which is a pub7.ic record. Sometimes they go further and call for bids and have all the bids and everythfng in your hand prior to the feasibility hearing. That gives you firmer figures. But normally we don't recommend that because you get too much front end cost, Then, based on the report and the reaction, the improvement is ordered. Then bids axe called, the awards are made and the contract is @one. There could be some things that could vary those costs downward or upward, depending on when the bids are received and changes during the course of construct- ion, but at some point in time the construction is done and we know all the costs. Not only construction costs, but the cost of financing, the cost of capitalized interest, bond coLmsel cost, engineering costs that come into play.. There's a check- sheet that we work out with the City Clerk's office prior to the preparation of the assessment roll. That cost is then given to the Council at the time they set the assessment hearing. The project is in," ,_, MR. FLAF�RTY; "That's what I was afraid of. The land has been transferred." MR. POPOVICH: "But at that time you know the total costs that are involved. Then the Council determines how much should be assessed and how muCh should be on general taxes. Here we have asaumed everything would be assessed for purposes o£ giving the worst possible picture from a due process point of view. The Council can then tell the engineer the project was $100,000 and at the time of the feasibility hearing we thought it would be $75,000 - we will only assess $75,000 and pick up $25,000 on general taxes. Those are judgment decisions you have to make when you prepare your assesament roll. You have the assessment • hearing and you have the people come in, and I've seen assess- ment roll changes because nobody is infallible and beneEits have to be taken into consideration as well as other aspects that may be brought to the Council's attention at the hearinq or in your discussions at any other time, and the assessment roll is amended and then sent to the county, so it's a long process." -10-