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AGENDA RECOMMENDATION |
Public Hearings 6.C.
City Council Regular Meeting
- Meeting Date:
- 10/15/2024
Agenda Item:
Improvement hearing on Capital Improvement Project 11084; Victory Drive and Hazeltine Road intersection and lighting improvements.
Recommendation/Action(s):
Adoption of the attached resolutions.
Summary:
On October 1, 2024, staff sent letters to 50 properties abutting this project notifying the property owners of the October 15 improvement hearing and, to date, staff have received no objections to the proposed project.
Staff is recommending the Council consider this improvement per the attached feasibility report and the resultant costs and funding sources are as follows:
Staff is recommending the Council consider this improvement per the attached feasibility report and the resultant costs and funding sources are as follows:
| ITEM | COST |
| Signal Improvements | $500,344.54 |
| Lighting Improvements | $264,235.46 |
| Total Construction Subtotal | $764,580.00 |
| Contingencies | $76,500.00 |
| Consultant Engineering | $68,850.00 |
| City of Mankato Engineering | $30,600.00 |
| TOTAL PROJECT COST | $937,530.00 |
| PROJECT FUNDING | |||
| ITEM | FUNDING SOURCE | AMOUNT | PERCENT |
| Signal Improvements |
City of Mankato | $153,380.95 | 16.36% |
| Blue Earth County | $153,380.95 | 16.36% | |
| Assessments | $306,761.90 | 32.72% | |
| Lighting Improvements |
City of Mankato | $62,392.54 | 6.65% |
| Blue Earth County | $162,003.10 | 17.28% | |
| Assessments | $99,610.56 | 10.62% | |
| TOTAL FUNDS | $937,530.00 | 100.00% | |