Full Text
50/50 Sidewalk Replacement Program PUBLIC WORKS OFFICE [PHONE REDACTED] 201 1st Avenue East Kalispell, Montana 59901 CIT Y OF KALISPELL Fax: [PHONE REDACTED] ---PAGE BREAK--- 5 0 / 5 0 S i d e w a l k r e p l a c e m e n t p r o g r a m A safe pedestrian sidewalk system is an essential compo- nent of our community. In order to encourage the re- placement of deteriorated sidewalks the City of Kalispell has established a cost sharing sidewalk replacement pro- gram. The City will equally share the cost of replacing sidewalks with the adjoining property owner. Annually the City will appropriates funds for this program and the program is administered on a first come first serve basis. The City annually obtains a local sidewalk contractor through the competitive bidding process. The 50/50 program will allow property owners to utilize the com- petitively bid prices to have their sidewalks replaced. The Public Works Department will provide engineering and inspection services at no expense to the property owner. The property owner has two payment options. First, the Contractor will bill the property owner directly for their share of the cost upon completion of the work. Second, the property owners share may be paid by utilizing an eight year assessment program. This option enables the property owner to pay by pro- rating their share of the cost over an eight year peri- od on the respective property taxes. A 5% adminis- trative fee based upon the property owners share will be included. One eighth of the principal plus interest calculated at the prime rate will be due on the remaining balance each year for eight years. Following is an example of the eight year assessment program for replacing approximately 30 feet of sidewalk (2015 prices). Your costs may be more or less depending on the quantity of work completed and the actual prime rate. 50% Share of Construction $476.19 5% Administrative Fee $ 23.81 Total Principal $500.00 Interest Rate at 5% - assumed prime rate for this example. YEAR PRINCIPAL INTEREST PAYMENT 1 $62.50 $25.00 $87.50 2 $62.50 $21.88 $84.38 3 $62.50 $18.75 $81.25 4 $62.50 $15.63 $78.13 5 $62.50 $12.50 $75.00 6 $62.50 $ 9.38 $71.88 7 $62.50 $ 6.25 $68.75 8 $62.50 $ 3.13 $65.63 $500.00 $112.52 $612.52 *Disclaimer: Cost changes annually based on received bids* The City of Kalispell Annually Partakes in the 50/50 Cost Sharing Program to Replace Old and Damaged Sidewalks Program Replaces Old, Damaged, and Hazardous Sidewalks to Improve the Quality and Safety of Public Sidewalks. City and Property Owner Share Cost of Construction Equally. City Administers Project Construction With a Competitively Bid, Retained Contractor. Property Owner Can Pay Contractor Directly or Enter Into 8 Year Assessment Program for Payment. First Come First Serve Program. Contact City of Kalispell Public Works Today for a Free Estimate and Sidewalk Evaluation or More Information. Telephone: 758-7720 Tree Root Damage Deteriorated Sidewalk Replaced Sidewalk