CCAgenda-4/12/04Mtg - Laserfiche WebLink

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ASSESSMENT Based on the low bid received, the costs listed below are the estimated assessment costs plus contingenCy. Paving 7- foot (per front foot) $ 74.48 Paving 10-foot (per front foot) $ 106.39 Sidewalk (per square foot) $ 3.95 Wastewater (per square foot) $ 0.30 Wastewater service (per each) $ 3,650.30 Total Assessable Cost $ 927,261.89 Total City Cost $ 2,790,851.61 Total Project Cost $ 3,718,113.50 The non-assessable City share for this project will be funded primarily from Transportation SDC's, storm water SDC's, and from ODOT. Systems development funds are paid by new development to finance the non-assessable share of this type of improvement project. The nonassessable costs the City will pay for include additional width of paving, intersections, medians, bike lanes, street lights, street trees, traffic signal, and non-assessable storm drainage system costs. In addition, the City is paying for the costs of improvements built through the 1-105 right of way and across the Q-Street Channel. Properties that are zoned for residential will be assessed for seven (7) feet of pavement width along their frontage. Properties zoned for commercial use will be assessed for ten (10) feet of pavement width. Single family residential properties that are fully developed or vacant but under ½ acre pay for a maximum of 100 feet and a minimum of 50 feet of frontage. Properties that are greater than ½ acre and are partially developed with single family residential will pay for a maximum of 100 feet of frontage at the time of assessment, with the remainder of the frontage assessment being delayed until further development occurs. Vacant properties over ½ acre are not levied an assessment with the LID. Assessment fees will be collected for these vacant properties when they are deVeloped in the future. Of the assessable cost, $451,106.34 will be delayed street assessments and $223,200.07 will be on-hold wastewater assessments. Assessment financing, a 1 O-year payment plan through the City, is available to all property owners within the improvement district as identified by City Code, Chapter 7. LOW INCOME SUBSIDY Information regarding the subsidy program was mailed by certified mail to property owners of single family and duplex properties in the proposed LID.. Some property responses have been returned and 1 property owner has been granted an extension until April to turn the forms in.