Title
RESOLUTION ORDERING THE IMPROVEMENT OF THE 2016 STREET PRESERVATION PROJECTS AT AN ESTIMATED COST OF $443,501.11
Body
CITY PROPOSAL:
RESOLVED, that it is deemed necessary for public convenience and safety and it is hereby ordered that the following streets be improved:
Project No. 1513 (estimate $443,501.11)
East Skyline Parkway from Mesaba Avenue to Kenwood Avenue
FURTHER RESOLVED, that said work be done by contract and that the estimated cost of said project as estimated by the city engineer is $443,501.11, payable from Permanent Improvement Fund 411, Department/Agency 035 (Capital Projects Accounts), Object 5530 (Improvements Other than Buildings). The funding sources for this project will be as follows: $243,501.11 MSA funds, and Street System Maintenance Utility Fee Fund 290 $200,000, and of these project costs, $115,620.42 will be assessed to benefitting properties.
FURTHER RESOLVED, that assessments shall be levied upon lands benefitting per the preliminary assessment roll and may be paid in five annual installments at municipal bond index fund rate plus 1.50 percent interest.
Statement of Purpose
STATEMENT OF PURPOSE: This resolution will order in assessable street improvements as part of the city’s 2016 Street Preservation project. The estimated assessment to the abutting property owners is $21.25 per front foot.