HomeMy WebLinkAbout7C Franklin Trail Reconstruction Set Assessment PresentationFranklin Trail
Reconstruction
Improvement Project
Assessment Hearing
October 16, 2017
Construction Update
•Construction began in early July with the setup of the temporary
water services
•The project started on Bluff Heights Trail and then worked both
North and South on Franklin Trail from the intersection of Bluff
Heights Trail and Franklin Trail.
•They started with sanitary sewer and watermain, then followed up
with house services, then storm sewer and street work.
•It is anticipated that the remaining concrete work and boulevard
work will be completed in October.
Project Schedule
ACTIVITY DATE
Accept Feasibility Report / Call for Public Hearing Completed
Informational Meeting Completed
Conduct Public Hearing/Accept Project / Order Plans &
Specifications
Completed
Informational Meeting Completed
Approve Plans and Specifications / Order Advertisement for Bids Completed
Open Bids Completed
Accept Bids/Award Contract Completed
Authorize Amount to be Assessed/Schedule Assessment Hearing Completed
Construction August to
November, 2017
Conduct Assessment Hearing October 16, 2017
Adopt Assessment Roll October 16, 2017
Assessment Map
Assessment Calculation
Estimated Project Costs and Financing
ITEM ESTIMATED PROJECT COSTS ASSESSMENTS CITY SHARE
Streets2 $1,584,765 $429,330 $1,155,435
Sanitary Sewer $400,581 $400,581
Watermain $346,841 $346,841
Storm Sewer1 $119,245 $43,177 $76,069
Total $2,451,432 $472,506 $1,978,926
1 Includes $11,430 in Water Quality Improvements that are not assessable
2 Includes $517,141 in collector street costs that are not assessable (9-ton design,over 36'wide,sidewalk,dynamic speed signs,
pedestrian crosswalk system,striping)
Total Assessed $472,506
Area to be Assessed 31.4 acres
Area Assessment $15,057.69 per acre
Area Assessment from Prelim Report $18,035.52 per acre
Sample Assessment Payments
Unit Amount $4,955.26
Term (Years)10 Years
APR 3.80%
First Year Interest 77 Days
Annual Remaining
Year Principal Interest1 Payment Principal
Beginning Balance $4,955.26
1 $495.53 $228.58 $724.10 $4,459.73
2 $495.53 $169.47 $665.00 $3,964.21
3 $495.53 $150.64 $646.17 $3,468.68
4 $495.53 $131.81 $627.34 $2,973.16
5 $495.53 $112.98 $608.51 $2,477.63
6 $495.53 $94.15 $589.68 $1,982.10
7 $495.53 $75.32 $570.85 $1,486.58
8 $495.53 $56.49 $552.02 $991.05
9 $495.53 $37.66 $533.19 $495.53
10 $495.53 $18.83 $514.36 $0.00
Totals $4,955.26 $1,075.92 $6,031.18
Important Dates
•November 15, 2017 Full or partial payments needed by this
date to avoid interest.
Payments made after this date will include
interest for 2017 as well as all of 2018.
•May 15, 2018 If no prepayments are made, assessments
will be incorporated into property taxes
beginning on this date.
16670 Franklin Trail
•An error in the assessment roll was pointed out with the 16670
Franklin Trail property.
•Scott County GIS assigned all of the common area to one of the
building condo units.
•The assessment roll has been re-calculated for this property.
Assessment Roll Revisions
68
SubdivisionName CONDOMINIUM
1000 (AMENDED) SubdivisionCd
25221 UNIT 120A
16670 FRANKLIN TRL
SE
2522100
10
COMMUNITY HOME HEALTH
INC 0.1750 $15,057.69 $2,634.89 $2,357.45
69
SubdivisionName CONDO 1000
FRANK TRL AMEND 2
SubdivisionCd 25274 UNIT 120B
16670 FRANKLIN TRL
SE
2527400
10 RADEMACHER SARAH A 0.0000 $15,057.69 $0.00 $1,732.57
70
SubdivisionName CONDO 1000
FRANK TRL AMEND 2
SubdivisionCd 25274 UNIT 120C
16670 FRANKLIN TRL
SE
2527400
20
PK THOMAS PROPERTIES
LLC 0.0581 $15,057.69 $874.24 $782.19
35
Block 100 Lot UNT SubdivisionCd
25197 SubdivisionName
CONDOMINIUM 1000 as amended
12/28/2010
16670 FRANKLIN TRL
SE
2519700
10
PK THOMAS PROPERTIES
LLC 0.2035 $15,057.69 $3,063.80 $2,741.19
36
SubdivisionName CONDOMINIUM
1000 Lot UNT Block 110
SubdivisionCd 25197
16670 FRANKLIN TRL
SE
2519700
20
PK THOMAS PROPERTIES
LLC 0.0444 $15,057.69 $669.22 $598.75
37
SubdivisionName CONDOMINIUM
1000 Lot UNT Block 200
SubdivisionCd 25197
16670 FRANKLIN TRL
SE
2519700
40 LAKE VISTA HOLDINGS LLC 0.0571 $15,057.69 $860.25 $769.67
38
SubdivisionName CONDOMINIUM
1000 Lot UNT Block 210
SubdivisionCd 25197
16670 FRANKLIN TRL
SE
2519700
50 LAKE VISTA HOLDINGS LLC 0.1609 $15,057.69 $2,423.17 $2,168.02
39
SubdivisionName CONDOMINIUM
1000 Lot UNT Block 220
SubdivisionCd 25197
16670 FRANKLIN TRL
SE
2519700
60 MCCLENAHAN GREGORY A 0.0529 $15,057.69 $796.98 $713.06
40
SubdivisionName CONDOMINIUM
1000 Lot UNT Block 230
SubdivisionCd 25197
16670 FRANKLIN TRL
SE
2519700
70 MCCLENAHAN GREGORY A 0.0933 $15,057.69 $1,405.36 $1,257.38
41
SubdivisionName CONDOMINIUM
1000 Lot UNT Block 240
SubdivisionCd 25197
16670 FRANKLIN TRL
SE
2519700
80 MCCLENAHAN GREGORY A 0.0760 $15,057.69 $1,144.36 $1,023.86
42
SubdivisionName CONDOMINIUM
1000 Lot UNT Block 250
SubdivisionCd 25197
16670 FRANKLIN TRL
SE
2519700
90 MCDONALD MICHAEL W 0.1453 $15,057.69 $2,187.73 $1,957.37
43
SubdivisionName CONDOMINIUM
1000 Lot UNT Block 260
SubdivisionCd 25197
16670 FRANKLIN TRL
SE
2519701
00
DRS PROPERTIES & C/O
DAVE RYAN 0.0262 $15,057.69 $394.23 $352.72
16670 Franklin Trail
Close the hearing:
Motion to continue the hearing for PID 252740010, Condo Unit 120B,
owned by Sarah Rademacher to November 20, 2017 at 7 pm and to
close the hearing for all other parcels.
Adopt the assessment roll:
Motion to table the assessment for PID 252740010, Condo Unit 120B,
owned by Sarah Rademacher until November 20, 2017 and to
approve the resolution and adopt the assessment roll as submitted
for all other parcels.
Any Questions?