HomeMy WebLinkAbout2004-11-29 Assessment Hearing - 2004 Utility & Street Improvements
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ASSESSMENT HEARING
2004 Utility and Street Improvements
November 29, 2004
Terry Sweeney - Mayor
Linda Broussard Vickers - Council Member
Mary Capra - Council Member
Tom lee - Council Member
Jeff Paar - Council Member
Prepared by:
Tom Peterson - City Engineer
Bonestroo, Rosene, Anderlik & Associates, Inc.
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TOTAL PROJECT COST
TOTAL ASSESSMENTS
FINAL
Nov. 2004
$2,097,757
$860,819
REPORT
Dec. 2003 Difference
$2,495,349 -16%
$1,012,035 -15%
Percent of total project being assessed: 41%
Assessment Calculation:
Water Main (100% assessed) $3,180/lot $3,563/lot -11%
Storm Sewer (50% assessed) $1,168/lot $946/lot + 230/0
Street Reconstruct (25% assessed) $2,229/lot $2,719/lot -18%
Curb & Gutter (75% assessed) $7.38/lf $13. 12/lf -440/0
Sidewalk (25% assessed) $406/lot $512/lot -20%
Mill & Overlay (10% assessed) $432/lot $276/lot +570/0
Average assessment for a typical residential lot
Largest assessment: St. Genevieve's
Smallest assessment, excluding mill/overlay
$7,006
$67,174
$2,229
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LEGEND
RECONSTRUCTION
MIU. 81 OVERLAY
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LOCATION MAP
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CENTERVILLE, MINNESOTA FIGURE 1
2004 STREET & UTILITY IMPROVEMENTS
61603133Fl01.DWG
NOVEMBER 200'+
COMM.. 61f\-()~-n.'\
Proposed 2004 Residential Street Improvements
Estimated Assessment Schedules
Terms: 10 years
Interest Rate: 6.0% ,
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Amount of Assessment $5,000.00 $6,000.00 $7,000.00 $8,000.00 $9,000.00 $10,000.00 $11,000.00 $12,000.00 $70,000.00
Annual Payment $679.34 $815.21 $951.08 $1,086.95 $1,222.81 $1,358.68 $1,494.55 $1,630.42 $9,510.76
Terms: 15 years
Interest Rate: 6.5% ,
Amount of Assessment $5,000.00 $6,000.00 $7,000.00 $8,000.00 $9,000.00 $10,000.00 $11,000.00 $12,000.00 $70,000.00
Annual Payment $531.76 $638.12 $744.47 $850.82 $952.59 $1,063.53 $1,165.29 $1,276.23 $7,444.69
Terms: 15 years
Interest Rate: 7.0%
Amount of Assessment $5,000.00 $6,000.00 $7,000.00 $8,000.00 $9,000.00 $10,000.00 $11,000.00 $12,000.00 $70,000.00
Annual Payment $548.97 $658.77 $768.56 $878.36 $988.15 $1,097.95 $1,207.74 $1,322.08 $7,685.62
113012004
9:50 AM
2004 streets example. xis