Fiscal Note
The total projected cost of the project is $4.57 million; the City share of the cost is $3.724m. The assessable cost of the project is $433,000. Funds for the project are budgeted in MUNIS project 10214. The project is funded through a combination of GO borrowing, revenue bonds (Sewer and Water), special assessments, and utility reserves. The breakdown of project costs is included below:
Project String Amount
Major Streets 10214-402-170 1,400,000
Major Streets-Stormwater 10214-402-174 112,000
Stormwater 10214-84-174 153,000
Storm-Water Quality 10214-84-174-84500 15,000
Sewer 10214-83-173 1,600,000
Water 10214-86-130 877,000
TOTAL 4,157,000
Title
SUBSTITUTE: Approving Plans, Specifications, And Schedule Of Assessments For Jenifer Street, S. Paterson Street, S. Brearly Street, and S. Few Street Reconstruction Assessment District - 2015.
Body
The Board of Public Works and the City Engineer having made reports of all proceedings in relation to the improvement of Jenifer Street, S. Paterson Street, S. Brearly Street, and S. Few Street Reconstruction Assessment District - 2015 pursuant to a resolution of the Common Council, RES-15-00022, ID No. 36556, adopted 1/6/2015, which resolution was adopted thereto, and the provisions of the Madison General Ordinances and the Wisconsin Statutes in such case made and provided, and the Common Council being fully advised.
BE IT RESOLVED:
1. That the City at large is justly chargeable with and shall pay the sum of $3,724,000.00 of the entire cost of said improvement.
2. That for those eligible property owners requesting construction of a rain garden in the public right-of-way adjacent to their property shall execute the necessary waiver of special assessments on forms provided by the City Engineer;
3. That the sum assigned to each separate parcel, as indicated on the attached schedule of assessment, is hereby specially assessed upon each such parcel.
4. That the Common Council determines such special assessments to be...
Click here for full text