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Financial and/or Resource Considerations <br />Below are the final unit assessable costs: <br /> <br /> Paving (per from foot) $ 65.96 <br /> Sidewalk (per square foot) $ 4.25 <br /> Storm Drain (per lot) (lots3800 & 104) $ 7,362.60 <br /> Parking Bays (per square foot) $ 4.75 <br /> Illumination (per lot) (lots 3800 & 104) $ 6,518.42 <br /> Street Trees (per lot) (lots 3800 & 104) $ 1,740.33 <br /> <br /> Total City Cost $106,415.25 <br /> Total Project Cost $ 213,597.60 <br /> <br />The City will pick up the cost for non-assessable curb and gutter, sidewalks, street lights, and storm <br />drainage system as identified by City Code, Chapter 7. The non-assessable City share for this project <br />will be funded primarily from Transportation system development charge (SDC) funds, Road Capital <br />Projects Fund and Stormwater SDC funds. Transportation SDC funds will be used to pay for the cost of <br />non-assessable street improvements at the intersection of Lone Oak and Division Avenue, because <br />Division is a collector street. Road Capital Projects Fund is used to pay the City's share of local street <br />improvements for local street LIDs which are ineligible for Transportation SDC funding. System <br />development changes are paid by new development to finance the non-assessable share of this type of <br />transportation and storm drain system improvement with regional benefit. <br /> <br />Other Background Information <br />Lone Oak Drive was an improved street with curbs and gutters, sidewalks and paving on the south side <br />only from Division Avenue east to Lone Oak Way. The improvements to Lone Oak Drive between <br />Division Avenue and Lone Oak Way were to meet the current and future pedestrian, bicycle and <br />vehicular needs in this developing area of the community. <br /> <br />Notices of the assessment and hearing were sent out ten days prior to the assessment hearing. A hearing <br />was scheduled for February 18, 2004; with none of the property owners wanting to attend, the hearing <br />was cancelled. <br /> <br />Timing <br />All the necessary steps have been completed as prescribed by the Eugene Code for levying assessments. <br /> <br />An immediate effective date is requested with this ordinance since the assessment calculations are based <br />on the Council action of March 8, 2004. An immediate effective date requires a 2/3 majority or 6 <br />affirmative votes from the Council to enact. Ordinances without an immediate effective date do not take <br />effect for 30 days. Without an immediate effective date, an additional 30 days of interest will accrue. <br /> <br />OPTIONS <br />Special assessment provisions adopted as part of an LID resolution cannot be modified during the final <br />assessment process if they result in increased costs to the property owners. The final assessment hearing <br />is to review the calculations to assure conformance with the requirements stated in the LID resolution <br />and the municipal code. <br /> <br /> L:\CMO\2004 Council Agendas\M040308\S0403085.doc <br /> <br /> <br />