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PROPOSED FUNDING - AMENDED <br />A. Special Assessments <br />State Statute 429 has two major points to consider when justifying assessments, first, the <br />assessment has to treat similar properties equally, and second, the amount of the assessment <br />has to be equal to or less than the resulting increase in property value. Assuming this project is <br />completed by fall 2013, the final assessment amount would be determined following an <br />assessment hearing in the fall of 2014 and a thorough review of the proposed assessments by <br />the Council. The following City of Roseville assessment policies are being followed: <br />• To meet MSA standards, this road will be constructed to a 10-ton design. <br />o Forthe purposes of assessment calculation, the estimated quantities are reduced to <br />reflect the cost to build a 7-ton road. (7 ton road design is 6 inches of aggregate <br />base material with 3 inches of new bituminous pavement). <br />o Since the proposed road is 33 feet wide, the costs for the additional 1 foot of <br />pavement are subtracted as well. <br />• Property zoned LDR1 and LDR2 shall be assessed up to 25% of the cost of a 7-ton, 32-foot wide <br />pavement with concrete curb and gutter and required drainage. <br />• All other property zoning shall be assessed up to 50% of a 7-ton, 32-foot wide pavement with <br />concrete curb and gutter and required drainage. <br />• Costs associated with sidewalk construction are not assessed to property owners. These costs <br />are funded using MSA funds. <br />• Sanitary and Watermain replacement/repair will be funded by the appropriate utility fund and <br />not become part of the assessable portion of the project. <br />Assessment Summary <br />Estimated total street construction cost with required drainage <br />Estimated 7-ton, 32 ft wide, street construction cost- with <br />required drainage <br />Total Assessable Frontage <br />Assessment Rate <br />100% of cost/foot <br />50% of cost/ foot <br />25% of cost/ foot <br />$577,816.53 <br />$540,794.40 <br />2,214.13 <br />$244.25 <br />$122.13 <br />$61.06 <br />. �xi�:�s.�s�nr_*:r,�r,=�:�.�n� _ .r_i�:�:+s�:r_�:s�nn:�sr�. <br />--- - ----- - - - -- -- - - -- - --- - - --- -• - -- - -- <br />.. .- - - -- - - - ••-- - • - - . . .- ---- - - -. _.. <br />Project P-ST-SW-W-13-02 Feasibility Report <br />County Road D Reconstruction <br />23 <br />