01-08-07 Full Agenda Packet - Laserfiche WebLink

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. Option 2- Assess residential units based on the project cost ofthe level of improvement on the street. 1" mill and overlay project eosts............................................................$243376.82 Total assessable Residential Equivalent Units (REU) ...........................................68 . 100% of project cost/ unit ....... ............... ....... .... ... ....... .................. .$3,5 79 .07 . Estimated street assessment per unit (50% of project cost/unit) .... ................ ...... ... .......... ... ................... .$1,789.54 Full depth pavement replacement project costs .....................................$405,883.12 Total assessable Residential Equivalent Units (REU) ...........................................69 (includes Tax-exempt Equivalent Units (TEU) as described above) . 100% of project cost! unit ....... ... ....... ....... ....... .......... ............... ......$5 .882.36 . Estimated street assessment per unit (50% of project cost/unit) ..................................................... .........$2,941.18 . Discussion The same level ofimpro\'ement is not proposed on all of the streets. Some of the strccts will need the more extensive, full pavement replacement, whereas other strcets will receive a standard mill and overlay. Option 1 does not distinguish between the two types of maintenance and everyone would be assessed equally. Option 2 separates the costs of the different types of maintenance; the residents along the streets receiving a standard r mill and overlay would be assessed less than those along streets with a full pavement replacement. Project cost distribution summary Total project costs... .... ..'..... .... ... ... ................ ........ ............ .....................$ 743,708.58 Total paid in assessments .... .......... ............. .... .......... ..... .............. ....... ....$367,759.21 Total funded by City (including assessment ofTEUs as described)......$375,949.37 . 32