“Thank you, mayor and councel. Um, we're here today for the Northwood Road area street and utility improvements phase one public assessment hearing. Um, just before we get started, just want to stress this is for phase one only. Phases two and three will have their own assessment hearings in their respective construction years. Um, quickly I'm going to focus on the assessments here, but just quickly want to go over the project again. Um, there's a varying degree of degradation in the streets and utilities out there. So, as you can see on the map, we have three different pavement treatments with this project. Um, as you can see, the red is street reconstruction, the yellow is reclamation, and the blue areas are milling overlay. uh to touch on the public engagement. To date, we have had two open houses during the feasibility stage. Um and those were to gather input and feedback from the residents. Um we heard from them what they're seeing out there, what improvements could be made on the project. Um and then we had the improvement hearing in September 2025. And just before this meeting, we had our third open house kind of to set the primer for construction, hear any other concerns um from the residents. And here we are at the assessment hearing. Uh pending council approval. Um Ryan Contracting is looking to get going in um March with tree clearing and April for more of the heavy construction. So here we're going to look at the project cost. um we broke it down by the three different utilities and streets. So you can see the streets are estimated to cost um just under $6 million and that's more heavily weighted on this one because a lot of the project is reclamation and milling overlay. Um and then the storm sewer is 600,000 and the sanitary and water man are each between 1 and 2 million for a project total of just over $9 million. Um and how are we going to fund that? So we have a variety of funding sources as you can see here um off the top the utilities as mentioned in the previous slide are funded directly from the utility funds. Um those are set aside by the city to pay for those specific items. Um and then assessments at the top which is what this presentation is about. Uh the one that you see the second line there is for the recon and reclaim assessments. Um just under 1.4 4 million and then the PI assessment at the bottom is the mill and overlay specific areas which are um assessed by fee schedule. So to go through our assessment policy um Prior Lake does assessments on a residentially equivalent unit basis. So each property on the project of that type will be assigned a value. Um single family properties carry a value of one and town home properties carry a factor of 0 75. Um so for reconstruction areas for example we'll take all of the reconstruction areas all of the homes on that area we will take 40% of the street cost and divide that by the number of reus um so it's the same process for both reclamation and reconstruction and then mill and overlay pro projects are just assessed at the rate adopted in the current fee schedule. Um since reclamation reconstruction assessments are generally a little higher, they can be assessed over a 10-year period and the millan overlay projects can be assessed over a 5-year period. Uh the interest rate is then set at 2% higher than the most recent sale of city bonds if uh the resident does not choose to prepay without interest. So, getting to the proposed final assessments here. Um, they were all actually calculated in a little bit of a different way. So, I'm going to go through them one by one. Uh, the reconstruction assessment as calculated for the street cost was actually closer to 19,000 per single family home. Um, as staff and the assessment review committee, we weren't uh fully comfortable with that number. So, we had a special benefit appraisal done um which showed 14,000 per single family home being a more appropriate number and the assessment review committee uh decided that actually lines up better with previous reconstruction projects we've had. Um so that's the reconstruction proposed assessment for reclamation. Um the number that came through the calculation actually is very very close to the last reclamation we did. So the assessment review committee was comfortable with that. And then the and that's 5,680 as you can see here. And then the millon overlay is set by the fee schedule as mentioned before which is 1,62 per single family home and 1,2150 per town home. Just to highlight who's getting assessed what here. Um the pink areas as you can see on the map are the reconstruction areas. The yellow areas are the reclamation areas and the blue areas are melon overlay. Finally, I have one of these on here for each type of payment. Um, I'm not going to walk through them all in detail, but you can see here $14,000 over 10 years at a 5.75 interest. Um, year one, 2027 would be the first payment, and that would be just under $3,000. and then it kind of gradually goes down till a year 10 where it's paid off in 2036. So similarly here for the reclamation is 5,680 paid over 10 years. Um in a similar way it starts just under $1,200 and ends up around 600 in year 10 where it's paid off. Um the millon overlay is 1,6002 over five years. So, similar thing here. Um, starts a little higher and tapers off and then the town home is just 75% of that. Um, getting into the important important assessment dates. Uh, so today, March 10th, 2026, the notice of intent to appeal must be submitted in writing. Um, following that, residents will have until November 2nd, 2026 to pay full or partial without interest. Um, they can make that payment to finance the finance department. And then after that on the third, uh if it hasn't been paid or there's some is outstanding, um that will be certified to the Scott County tax role and will include interest for 296 days in 2026 and for the entire following year in 2027. And then 2027 to 2036 would be the payment time frame. And with that, I would take any questions.”
Presenting the Northwood Road area project phase 1 assessment details, including project scope, funding, assessment methods, proposed amounts, and important dates.