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AGENDA RECOMMENDATION |
Public Hearings 5.C.
City Council Regular Meeting
- Meeting Date:
- 01/08/2018
Agenda Item:
Project feasibility hearing on Capital Improvement Project Number 10387; Record Street.
Recommendation/Action(s):
Pass a Resolution receiving the feasibility report, ordering improvement, preparation of plans, specifications and ordering advertisement for bid; and
Pass a Resolution declaring cost to be assessed, and ordering preparation of proposed assessment and set date of assessment hearing on Capital Improvement Project Number 10387; Record Street.
Pass a Resolution declaring cost to be assessed, and ordering preparation of proposed assessment and set date of assessment hearing on Capital Improvement Project Number 10387; Record Street.
Summary:
Included with this memo is the Project Feasibility Report for Record Street. Within this report are the details related to the costs, funding, proposed construction activities and scheduling for this project.
On December 20, 2017, letters were sent to 51 properties abutting this property notifying the property owners of the January 4, 2017, informational meeting where staff will present the proposed plan, estimated costs, and proposed assessments for this project.
Staff is recommending the Council consider this improvement per the attached feasibility report and the resultant costs and funding sources are as follows:
On December 20, 2017, letters were sent to 51 properties abutting this property notifying the property owners of the January 4, 2017, informational meeting where staff will present the proposed plan, estimated costs, and proposed assessments for this project.
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 |
| Street | $843,579.45 |
| Storm Water | $237,808.98 |
| Watermain | $228,902.47 |
| Sanitary Sewer | $277,490.94 |
| Construction Contingency | $158,778.18 |
| TOTAL CONSTRUCTION | $1,746,560.02 |
| Admin/bonding | $104,793.60 |
| Engineering | $174,656.00 |
| TOTAL PROJECT COST | $2,026,009.62 |
| FUNDING SOURCE | AMOUNT | PERCENT |
| Special Assessments | $403,920.00 | 20% |
| G.O. Bonding | $877,887.23 | 43% |
| Water Utility | $228,902.47 | 11% |
| Sewer Utility | $277,490.94 | 14% |
| Storm Utility | $237,808.98 | 12% |
| TOTAL FUNDS | $2,026,009.62 | 100% |