HomeMy WebLinkAbout7D Sycamore Trail Reconstruction Adopt Assessment PresentationSycamore Trail
Reconstruction
Improvement Project
Assessment Hearing
October 16, 2017
Construction Update
•Construction began in mid September with the setup of the
temporary water services
•The project included a temporary street connection to Willow
Beach to provide alternative access point to the neighborhood
during construction.
•They started with watermain, then followed up with sewer and water
house services, and then storm sewer.
•It is anticipated that the street work will begin next week and should
be substantial complete by mid November.
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 September to
November, 2017
Conduct Assessment Hearing October 16, 2017
Adopt Assessment Roll October 16, 2017
Assessment Map
Assessment Calculation
Pursuant to the City Assessment Policy, street and storm sewer
reconstruction is assessed at 40% of the total project cost to the
benefiting properties.
Sanitary sewer and watermain costs are paid through the City’s trunk
sanitary sewer and water funds.
Based on the low bid for the project as well as the actual
construction costs to date, the proposed assessment rate is
$9,142.22 per unit.
The estimated assessment presented in the feasibility report was
$9,459.25 per unit. The actual assessment is $317.03 less than the
original estimate.
Sample Assessment Payments
SYCAMORE TRAIL RECONSTRUCTION PROJECT
Unit Amount $9,142.22
Term (Years)10 Years
APR 3.80%
First Year Interest 77 Days
Year Principal Interest Annual Payment Remaining Principal
Beginning Balance $9,142.22
1 $914.22 $421.71 $1,335.93 $8,228.00
2 $914.22 $312.66 $1,226.89 $7,313.78
3 $914.22 $277.92 $1,192.15 $6,399.55
4 $914.22 $243.18 $1,157.41 $5,485.33
5 $914.22 $208.44 $1,122.66 $4,571.11
6 $914.22 $173.70 $1,087.92 $3,656.89
7 $914.22 $138.96 $1,053.18 $2,742.67
8 $914.22 $104.22 $1,018.44 $1,828.44
9 $914.22 $69.48 $983.70 $914.22
10 $914.22 $34.74 $948.96 $0.00
Totals $9,142.22 $1,985.03 $11,127.25
Assessment Roll
No.PID Property Owner Parcel Address Parcel City State Zip
Assessible
Units
Unit
Assessment
Amount
Total
Assessments
1 250980010 HACKETT WILLIAM B 3508 SYCAMORE TRL SW PRIOR LAKE MN 55372 1 $9,142.22 $9,142.22
2 250980020 WARMKA ROBERT E 3498 SYCAMORE TRL SW PRIOR LAKE MN 55372 1 $9,142.22 $9,142.22
3 250980040 ROBINSON LAURA 3486 SYCAMORE TRL SW PRIOR LAKE MN 55372 1 $9,142.22 $9,142.22
4 250980050 DAVENPORT WILLIAM G 3478 SYCAMORE TRL SW PRIOR LAKE MN 55372 1 $9,142.22 $9,142.22
5 250980060 MADER WESLEY M & CHARLOTTE 3470 SYCAMORE TRL SW PRIOR LAKE MN 55372 1 $9,142.22 $9,142.22
6 250980080 SHORT KIMI C & CHRISTOPHER T 3442 SYCAMORE TRL SW PRIOR LAKE MN 55372 1 $9,142.22 $9,142.22
7 250980090 JOHNSON MARGARET A 3420 SYCAMORE TRL SW PRIOR LAKE MN 55372 1 $9,142.22 $9,142.22
8 250980110 SPANIER MICHAEL T & KATHRYN A 3483 SYCAMORE TRL SW PRIOR LAKE MN 55372 1 $9,142.22 $9,142.22
9 250980130 BAUCHLE JOHN F & DARLA D 3437 SYCAMORE TRL SW PRIOR LAKE MN 55372 1 $9,142.22 $9,142.22
10 250980160 SUTHERLAND JOSHUA 3415 SYCAMORE TRL SW PRIOR LAKE MN 55372 1 $9,142.22 $9,142.22
11 250980180 HANSON TIMOTHY D & TAMMIE J 3469 SYCAMORE TRL SW PRIOR LAKE MN 55372 1 $9,142.22 $9,142.22
12 251060160 SMITH SCOTT J 3385 SYCAMORE TRL SW PRIOR LAKE MN 55372 1 $9,142.22 $9,142.22
13 251950010 CHOUDEK DANIEL 3454 SYCAMORE TRL SW PRIOR LAKE MN 55372 1 $9,142.22 $9,142.22
14 252180020 TRUST NUMBER 250 3380 SYCAMORE TRL SW PRIOR LAKE MN 55372 1 $9,142.22 $9,142.22
15 252180030 CURRY RONALD D & KATHY J 3402 SYCAMORE TRL SW PRIOR LAKE MN 55372 1 $9,142.22 $9,142.22
16 252180040 EICHTEN THOMAS J & EVE D 3406 SYCAMORE TRL SW PRIOR LAKE MN 55372 1 $9,142.22 $9,142.22
16 $146,275.52
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
fill be incorporated into property taxes due
beginning on this date.
Any Questions?