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ASSESSMENT <br /> <br />Costs listed below are the estimated assessment costs calculated from the Iow bid. The calculations <br />are consistent with adopted Council policy. A 10% contingency has been included in the es{imated <br />costs. <br /> <br /> Paving 28-foot (per front foot) $90.82 <br /> Paving 21-foot (per front foot) $74.44 <br /> Sidewalk (per front foot) $26.70 <br /> <br /> Total Assessable Cost $234894.39 <br /> Total City Cost $183478.17 <br /> Total Project Cost $418372.56 <br /> <br />Per City Code, property owners on local streets pay for the full width of the street, and the City pays for <br />intersection costs and non-assessable storm drainage costs. The non-assessable City share for this <br />project will be funded from Road Fund and Storm water SDC Fund. Transportation SDC funds may only <br />be used on arterial and collector street projects. <br /> <br />Assessment financing, a 10-year payment plan through the City, is available to all property owners <br />within the improvement district as identified by City Code, Chapter 7. <br /> <br />LOW INCOME SUBSIDY <br /> <br />Twenty seven potential residential property owners were notified of the Low-to-Moderate Income Street <br />Improvement Subsidy program. The subsidy program is available to property owners who occupy a <br />single family dwelling or duplex and meet other program criteria. Owners were sent fact sheets which <br />describe the household size and income levels for the subsidy program which is based on the current <br />Lane County Median Family Income. Property owners were given until June 24, 2005, to return their <br />application forms to determine eligibility. <br /> <br />Recommendations <br /> <br />The unit prices submitted with the Iow bid are competitive and, based on staff review, appropriate for <br />this scale of project. Staff recommends approval of formation of the LID. <br /> <br /> <br />