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Description Cost (all scenarios include a crosswalk flasher and church sidewalk replacement) Scenario 1- Construct new sidewalk as described in Feasibility Report $55,030.80 The project as it is described in the feasibility report includes the construction of a 6 foot wide concrete sidewalk with a 5 foot boulevard along the south side for the entire length of County Road D. One tree and one shrub are proposed to be removed to construct the sidewalk. Scenario 2- Construct new sidewalk from Lexington to Churchill $23,090.54 There is a 25 unit apartment building located between Lexington and ChurchilL There is no access for these residents to a north- south County Road D crosswalk without walking in the street. This scenario would be to construct a new 6 foot wide concrete sidewalk with a 5 foot boulevard along the south side of County Road D from Lexington to Churchill. This would provide connection for these property owners to the trail along Lexington Avenue, and to the Churchill intersection. Scenario 3- No new sidewalk construction $17,465.36 POLICY OBJECTIVE _ Because this is a street reconstruction project, the City's policy is to assess a portion of the costs as allowed far in State Statute 429. Assuming this project is completed by fall 2013, the final assessment amount would be determined following a thorough review of the proposed assessments by the Council at an assessment hearing in the fall of 2014. These assessments can either be paid up front in the fall of 2014, or be put against taxes payable in 2015 for 15 years at -- around 6% (rate set at time of hearing). The feasibility report details the proposed design, neighborhood impact, estimated cost and �- proposed funding for the construction of these public improvements. Assessments shall be - equivalent or less than the anticipated increase in market value for properties being assessed. It -� is the City's policy to assess the cost to construct a 32 foot wide 7-ton road to adjacent property - owners as follows: - • Adjacent residential property owners assessed for up to 25% of the cost. - • All other adjacent property zoning assessed for up to 50% of the cost. Appraisals have been completed to determine the influence of the improvement project on the �� value of the properties proposed to be assessed. Staff has attached an amendment to the feasibility report that incorporates the findings of the appraisal. A summary of recommendations from the Appraisal Report: _ • Adjust the single family residential assessment rate from $61.06/ft to $60/ft. • Adjust the assessment rate for the Lutheran Church of the Resurrection property from _ $122.13/ft to $90/ft. • Adjust the assessment rate far the 25-unit apartment building at 1080 County Road D from $122.13/ft to $90/ft. . • Adjust the assessment rate for the Commercial property at 3114 Lexington Avenue from � $122.13/ft to $110/ft. Page 2 of 3