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1. Project costs financed according to assessment policy. 2 Construction standards and policies met for proposed street widths, utility replacements, etc. Financial implications: The total estimated project cost and financing of the proposed 2000 PMIJ is as follows: Project Number Cost Estimate Assessed Amount City Cost P-00-02 $940,260.26 $270,307.67 $669,952.59 Traditionally, the PMP is financed with bonds. In order to use bond proceeds to reimburse certain expenditures for the projects, the Council must make a formal declaration in the form of a resolution. Schedule: For projects ordered at the February 14,2000 public hearings, we suggest the following schedule: Feb. 14—March 12 Plans and specification preparation period March 13 Council approval of plans and specifications and authorization to advertise for bid March 24 and April 14 Ad for bids in Roseville Review March 24 and April 14 Ad for bids in Construction Bulletin April 18 Bid opening April 24 Council award of contracts May 8 Start construction Staff recommendation: Overall, the streets in this year's neighborhoods are in relatively good condition. They were selected for inclusion in the 2000 PMP because they are among those few streets that have not yet been reconstructed as part of the PMP. As discussed in the feasibility report the council may wish to consider postponing the proposed 2000 PMP work until pavement conditions deteriorate. Staff recommends that the City Council order all public improvements heard on February 14, 2000. In addition, staff recommends that the City Council declare that the City intends to reimburse its funds with bond proceeds. RECOMMENDED COUNCIL ACTION: Adoption of a resolution ordering project P-00-02, Neighborhoods 32,34,35,36 and Adoption of a resolution declaring the intent of the City to reimburse certain expenditures associated with the 2000 PMP from the proceeds of bonds to be issued by the City. Prepared by: Debra Bloom