Estimated Assessment Update

The City hired Nagell Appraisal Inc. to prepare a letter report providing a preliminary opinion of market benefit for similar properties in the neighborhood. The letter report is available for viewing in the document library located here.

Although the preliminary assessment amount of $24,200 per residential equivalent unit (REU) is within the improvement benefit range of $15,000 to $25,000 for single family residential properties, the actual assessment amount may be less for the following reasons.

• 15% construction contingency is included in the estimate. The contingency funds may not be necessary.
• Below average soil conditions exist under the pavement and gravel base throughout the neighborhood. Estimated assessments include costs for replacement of all poor soils with more stable soils. Less soil replacement may be necessary.
• A favorable bidding environment may lead to lower construction costs.

The project Public Hearing, including estimated assessment amounts, will begin on December 7 at 6 PM. To comment, please click on the Public Hearing tab.