7B, Resolution 2010-033, Assessment Roll for 2010 PMP

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adj acent vacant lot, and has requested they be assessed for only one parcel. This vacant lot is an approved platted lot and is considered buildable. Staff discussed these parcels with the City Attorney; the City Attorney's comments are �ncluded in the attached letter. Staff is requesting direction from the City Council on how to proceed with assessments for the above mentioned parcels. Financial Implications Assessment rate The total amount to be assessed is $306,528.86. The total project cost is $982,443.88; the amount to be paid by the City is $675,915.02. There are two proposed assessment rates; one for the streets to be reconstructed (Valentine Avenue, Valentine Crest Road and Valentine Court), and one for the streets to be milled and overlaid (Katie Lane and Katie Court). Reconstruction assessment rate The current reconstruction assessment rate based on the low bids is $8,268 per unit, based on 31 units, including Valentine Avenue, Valentine Court, and Valentine Crest Road. The following table shows the proposed assessment rate if either of the 2-REU properties was reduced to a single unit. # REU Includes: � Cost er unit 31 29 arcels, 2 of which are 2 REU $ 8,268.46 30 29 parcels, 1 of which is 2 REU $ 8,544.07 29 29 parcels, none of which is 2 REU $ 8,838.70 The assessment rate originally provided in the feasibility report was at $8,833 per unit. Mill and overlay assessment rate The current mill and overlay assessment rate based on the low bids is $1,477 per unit, based on 34 units. The following table shows the proposed assessment rate if the vacant parcel is not included. # REU Includes: Cost er unit 34 34 arcels, vacant arcel included $ 1,476.67 33 33 parcels, vacant parcel excluded $ 1,521.41 The assessment rate originally provided in the feasibility report was at $2,272 per unit. Schedule 1�ssessment rolls rnust be adopted no later than September 27, 2010, to allow for a 30-day pre-paynlent period. Following the pre-payment period, assessment rolls are certi� ed to Ramsey County for collection. The County requires that this certification be done by November 15 in order to allow them enough time to add the assessments to property City Council Meeting \�Metro-inet.us\ardenhills�PR&PW�Engineering\Council_Actions�2010\6-14-1 OMemo 201 OPMP DeclareCosts.doc Page 3 of 4