2001_0226_packet - Laserfiche WebLink

Home

West Owasso Blvd Jose hine Road Street Width 26-foot w/Parking Bays (33') 26-foot w/Parking Bays (33') athway Bit�uninous Concrete ($6.32/ ft) andscaping No additional No additional etaining Wa11 Granite Boulders Granite Boulders ailboxes F�isting F�isting Crosswalk Stri ed Concrete $1.431 ft ssessment per linear foot o rontag� �0 $7.75 ssessment for 100 ft Lot $ 0 $ 7 7 5 Storm Sewer Assessment $1614. 80 $ 7 8 9. 8 0 Typically, storm sewer assessments have been in the range of $500 to $1000 per lot. The proposed storm sewer assessment on West Owasso Boulevard is somewhat higher than typical. At the time of the assessment hearing, Fall 2002, the Council may wish to consider lowering the storm sewer assessment on West Owasso Boulevard to be more in keeping with historical assessments. The Storm Utility Fund would pay for the e�tra project costs not collected with assessments. Financial implications: The revised total estimated project cost and financing of the proposed 2001 PMP based on the current staff recommendation is as follows: Project Cost Estimate Assessed Amount City Local City MSA Funds Number Funds P-ST-SW-Ol-09 $1,513,841.74 $62,977.16 None $1,450,$64.58 P-ST-SW-01-10 $846,270.98 $176,443.85 None $669,827.13 Total Cost $2,360,112.72 $239,421.01 None $2,120,691.71 Often, the City sells bonds to finance the PMP. In order to retain the fle�bility to use bond proceeds to finance the 2001 PMP, it is recommended that the Council make a formal declaration allowing the sale of bonds. RECOMMENDED COUNCIL ACTION: Adoption of a resolution ordering the construction of City Improvements P-ST-SW-01-09 and P-ST- SW-01-10. and Adoption of a resolution declaring the intent of the City to reimburse certain expenditures associated with the 2001 PMP from the proceeds of bonds to be issued by the City. Prepared by: Debra Bloom