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6.3. SR 12-04-2006 City of Elk River REQUEST FOR COUNCIL ACTION Agenda Section Meeting Date En ineerin December 4, 2006 Item Description Reassessment of the 2006 Bituminous Overla 1m rovement Item Number Introduction As has been the city's practice, in even numbered years the city has undertaken bituminous overlays. In 2006, a bituminous overlay project was completed. Discussion In May, the City Council adopted resolutions determining assessment amounts and authorized preparation of the assessment roll. The assessment hearing was held June 19,2006, and a resolution adopting the fmal assessment roll was approved at that meeting. The work was started after that meeting and completed in the fall of the year. Final calculation of the construction cost and overhead spent to complete the project was substantially less than the amount that has been assessed; therefore, staff is recommending the City Council consider reassessing the project at a reduced rate of$1,800 per unit (original assessment was $2,150 per unit). This results in a reduction in the amount assessed of $136,850. Financial Impact There will be no fmancial impact to the city as this is simply a reassessing due to an overcharge in the assessment based on estimated numbers at the assessment hearing. Attachments The attached resolution would authorize the reassessment of the 2006 bituminous overlay project at the reduced rate of $1,800 per assessable unit. Action Requested The City Council is requested to adopt the attached resolution. Based on adoption of this resolution, staff will prepare new assessment schedules and a mailing to all assessed properties. Any properties that have already paid their assessment in full will be sent a rebate check. Council Action Motion by _ Second by _ Vote Follow Up S:\Engineer\2006 CC memos\Bituminous Reassessment.doc RESOLUTION 06-_ A RESOLUTION FOR THE CITY OF ELK RIVER A RESOLUTION DETERMINING THE AMOUNT OF REDUCTION OF THE PREVIOUSLY ASSESSED 2006 BITUMINOUS OVERLAY IMPROVEMENT WHEREAS the City Council of the City of Elk River adopted resolution 06-56 and 06-71 determining the cost to be assessed and ordering the preparation of the assessment roll in the matter of the bituminous overlay improvement of 2006; and WHEREAS the final assessment roll contained 391 residential equivalent units assessed at $2,150 per unit for a total assessment cost of $840,650; and WHEREAS the project is now complete and the final construction and overhead costs have been computed at less than the total amount previously assessed. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River, Minnesota: 1. The bituminous overlay improvement of 2006 shall have the total assessment reduced by $136,850. 2. The revised assessable costs shall be redistributed over the 391 assessable units at a revised rate of $1,800 per assessable unit, which is a decrease of $350 from the original assessment. Passed and adopted this 4th day of December 4, 2006. Stephanie A. Klinzing, Mayor ATTEST: Joan M. Schmidt, City Clerk S:\Engineer\Resolutions\Bituminous Overlay Reassessment Resolution.doc