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Home My WebLink About1973-10-09 Resolutioni ENGINEER'S REPORT WATER SYSTEM IMPROVEMENTS IOWA CITY, IOWA October 9, 1973 To the Honorable Mayor and City Council Iowa City Iowa Honorable Mayor and Gentlemen: Mr. Robert F. Erickson of Veenstra $ KimT; Engineers, and myself hereby certify that the improvements, as constructed in a contractbetween the City of Iowa City and Gjellefald Constructors, Inc, of Forest City,`. Iowa, dated January 9, 1973, has been completed by said contractor in substantial accordance with the plans and specifications governing said improvements'. We further certify that Lhe improvemeiics, as constructed, included the following quantities: UNIT ITEM DESCRIPTION QUANTITY PRICE M10UNT 1. Headwall Replacement 1 lump sum $ 750.00 2. Tapping Valve &,,Sleeve Installation 121' x 12" 1 lump sum 1,250.00 3. Air Relief Valves 2 $ 160.00 320.00 4. Valve Manholes 2 335.00 670.00 " S. Connections to Existing System 1 lump sum 210.00 6. 12" Water Main In Place 1,,528 14.00/ lin. ft. <21,392.00 7. River Crossings 2 $33,850.00 .67,700.00 8. Creek Crossings 1 lump sum 4,400.00, 9. 12" Gate Valve Installation 2 150.00 300.00 TOTAL CONTRACT AMOUNT $96,992.00 TOTAL PREVIOUSLY PAID 87,292.80 TOTAL DUE 'CONTRACTOR $ 9,699.20 Respectfully submitted, IV JJo �vrw— Georg R Bonnett, P.E. Acting Director of Public Works fir` _ • _�`/ - 0. l V -- - - RESOLUTION NO. 73-436 -- - - ' RESOLUTION` -ABATING -LEVY AND COLLECTION OFTAXES ..FOR - SEWER. CONSTRUCTION BONDS - - .WHEREAS, .the City Council of -the City..Of Iowa-City,-Iowa,,has heretofore called for bids for the construction of and has entered into contracts for the construction of improvements and extensions to the existing systems Of storm and sanitary sewers within the City of Iowa City, Iowa, and WHEREAS, the City Council determined that it was necessary. to issue One Million Dollars ($1,000,000.00) of_sewer construction bonds as authorized by Code Section.. 396.22 of the Code of Iowa, 1973, as amended, for the purpose of paying a part of the cost Of said improvements, and WHEREAS, the City Council of the Cityof Iowa City, Iowa, determined that - it was necessary to levy a tax for the purpose -of paying principal and interest, on said sewer construction bonds, as General Obligation Bonds of the City of Iowa City, and notices were published and hearings held^assrequired by law, on and the issuance of said sewer construction bonds, the levy Of said-tax WHEREAS, pursuant to law, on.the 29th day of, September, A.D., 1970, the City Council of the City of Iowa City, duly enacted Ordinance No. 2571 of the Ordinances of the City of Iowa City, providing for the issuance of One Million Dollars sewer construction bonds and levying a tax to pay said bonds, and WHEREAS, the City Council oftheCity of Iowa City: has determined, by - - examination of the revenues of the existing systems of storm and sanitary sewers within the City of Iowa City, that said revenues are sufficient' to pay funds required. by Bond Ordinance .No. 2571, to be levied in 1973 for collection in 1974, and the first six months of 1975, and WHEREAS, the City Council of the City of Iowa city deems it in the public interest that said tax should be paid by sewer revenues and the tax levy abated. NOW THEREFORE BE IT RESOLVED BY T11r CITY COUNCIL OF THE. CITY OF IOWA CITY, IOWA, as follows: 1)That the direct tax levy on all taxableproperty within the City of -- Iowa City, established to be levied in 1973 for collection in 1974 and the " first half of 1975 in the amount of $153,700.00 as established by Ordinance No.2571 of the Ordinances of the City of Iowa City, shall not be levied and collected and shall be abated: PROCLAIMER CERTIFICATE RELATIVETO: ESTABLISHMENT OF FAIR MARKETVALUE FOR PROPERTY TO BE ACQUIRED' I, C. L. Brandt, the duly elected, qualified, and acting Mayor of the City of Iowa City,', herein called the !'Local Public Agency," hereby certify, that I'.have been authorized by Resolution No 70-438, duly 'adopted by the City Council of the Local Public Agency at a'regular meeting on December 1, 1970, as set forth in the minute :book on file' at the ,office of, the City Clerk', to make the following certification and that.the'statements,,contained herein are true and correct to the best of my knowledge and ,belief: i 51 1. Each parcel, City -University Urban Renewal Area, Project No. Iowa R-14, listed in the attachment to this proclaimer certificate has been appraised by at least two, qualified, independent, professional'real.estate appraisers and 'a written and signed copy of each such appraisal is con- tained in the Local Public Agency files. 2. Each such appraisal has been reviewed by E. Norman Bailey, a qualified review „appraiser under contract to the':Local Public' Agency, and all corrections, revisions, or additions requested by, such reviewer have been made by the original appraisers. 3. The reviewer has prepared a written report which indicates that the `appraisals.. are complete and consistent in the factual data contained therein, comply with existing statutory and administrative requirements of the Depart- ment of`Housing'.and,Urban Development, and are acceptable for the determination of fair market value. 4. Based upon such appraisals and the review thereof, the, Local Public Agency has established the fair market of. each parcel listed herein and all documentation related to such determination' is contained in the Local Public Agency,' files. 5. The latest budget amount allowable for real estate acqui- sition including amounts available in contingencies as': a" pproqed by HUD on March 1, 1971 is notexceeded by the sum of ,the following' a. Cost of property previously acquired. b. Acquisition prices previously approved by HUD for properties not acquired. - September 25, 1973 4. To: Rod Parsons From: Norman Bailey ,,Subjects 93-3 ;(Reed) I have reviewed the appraisals and have ,been in :the building, This is a small old house on a small lot in, poor condition. It - ,has five sleeping rooms - 3 up and.2 down, They all share the kitchen (down and bath (up) There is no parking, The house is not in good condition and appears to represent an interim use until the property can be redeveloped, Ie.nd value -would appear to be $6,Oo sf or Tess, $6,o0 x 2914 sf = $179484 If the house is rented $551 unit we have $55 x 5 = $275 x 12 _ $3300 GRI GRN 4,8 x $3,300 = $15,840 -- It is my opinion that this property has a fair market value of I. $17,500 less $500 demolition or $17,000; ti w + :Block 93 k. Parcel -3- • APPRAISAL REVIEW SUMMARY Property Identification 11'West Burlington Major tenant: Various Owner:, .Kathryn A. Reed Appraisals A. $ 16,000.00 ) Used in B. ,'$ staff recom- mendation'of'FMV C. $ 19,000.00 Recommendation ( 9/27/73) Staff recommends fair market value of $ 17,000.00 }y UKrer Kathr n Reed Iowa R-34 Lot Size: same X Dit.se amen Dif. 2914 •' Appraiser: A_ WATERS B IARCO Date of Appraisal 3/8/71 7/3/73 Total value $ 16,000.00 $ 20,000,00 Land $ 3.50 PSF $ 10,200 $ 6.60 PSF, $ 19,200 improvements $ 5,800 $ 800 Total It.L•: Appraisal $ 16,000 $ 20,000 Leaschold_Interest $ $ $ $ ' Gixtures I. $ 2 $ 3. $ Total Leased Fee $ 16,00020 $ .000 •fetaI Leaschold Interest $ $ INCOME Actual Rent —� $ Estimated Rent $ $ 3,300.00 Expenses $ 1,691..00 Net Income $ $ 1;609:00 Cap.:Rate $ 9 $ Value Today $ $17,900.00 MARKET DATA A B Comps., 1. 55 @10.47 PSF I. 32-B @ 25$ PSF 2. '65 @10.49 PSF 2. 32-C @ 25% PSF 3• 67 @ 9.52 PSF 3. 46-A @ 50% PSF • F $PSF 10.50 --- Value 15,500.00 20,000.00 ,, Reviewer R. Parsons Date 9/27/73 d