HomeMy WebLinkAboutExhibit B-1exhibit 8-1
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ature of the aroposed Imorovement.
The proposal is to restore the Rockerman Canal (the "Canal") and the Kennedy Park (the
"Park') shoreline by:
(1) removing the sediment accumulated in the Canal with maintenance dredging.
(2) removing and relocating the vegetation that has encroached into the Canal right of way.
(3) arresting accretion of the bank of the Canal by stabilizing the shoreline with the installation of
rip -rap and a berm.
(4) arresting the uncontrolled growth of exotic non-native species and mangrove vegetation by
removing and relocating the encroaching vegetation in a manner that curtails future uncontrolled
growth and with regular landscape maintenance of vegetation growing within close proximity to
the Canal bank.
(5) arresting storm water run-off that carries sediment into the Canal bottom and accumulates in
the bank of the Canal by the installation of rip rap and by the making of a berm that prevents
further silting from storm water run-off into the Canal.
Shoreline stabilization after removal of the sediment currently deposited in the Canal and the
removal and relocation of vegetation encroaching into the Canal right of way, will limit erosion
and sifting into the Canal and Biscayne Bay in the future.
The restoration measures outlined can greatly improve water quality in the Canal. Improved
water quality will lure fish and wildlife back to the Canal restoring the ecological health of the
Canal. Vessels will be able to navigate the full length of the Canal safely and free of hazards.
Navigability and ecological health will restore property values of the residential side of the
Canal. The stabilization of the Park bank of the Canal will prevent future encroachment into the
Canal right of way protecting further deterioration from occurring in the future.
When assessments are to be paid.
The Assessment, totaling Three Hundred Fifty Two Thousand Five Hundred Dollars,
($352,500.00), shall be imposed, proratedly to each homeowner, over a period of four (4) years.
Divided by fifteen (15) homeowners, the total assessment for each homeowner over the four
year period is $23,500.00.
The first portion of the assessment, (Part No. 1), shall be in the amount of Two Hundred Ten
Thousand Dollars, ($210,000.00), and shall be paid sixty (60) days after the resolution
approving the equalized assessment is adopted by the City Commission. Divided by fifteen (15)
homeowners, Part No. 1 of the assessment, per homeowner, is $14,000.00.
The second portion of the assessment, (Part No. 2), shall be in the amount of Thirty Eight
Thousand Five Hundred Dollars, ($38,490.00), and shall be paid by each property owner four
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hundred twenty five (425) days, (one year and two months), after the resolution approving the
equalized assessment is adopted by the City Commission. Divided by fifteen (15) homeowners
Part No. 2 of the assessment, per homeowner, is $2,566.00.
The third portion of the assessment, (Part No. 3), shall be in the amount of Twenty Four
Thousand Dollars, ($24,000.0, and shall be paid by each property owner seven hundred
ninety (790) days, (two years and two months), after the resolution approving the equalized
assessment is adopted by the City Commission. Divided by fifteen (15) homeowners Part No. 3
of the assessment per homeowner, is $1,600.00.
The fourth portion of the assessment, (Part No. 4), shall be in the amount of Eighty Thousand
Ten Dollars, ($80,010.00), and shall be paid by each property owner one thousand one hundred
fifty five (1155) days, (three years and two months), after the resolution approving the equalized
assessment is adopted by the City Commission. Divided by fifteen (15) homeowners Part No. 4
of the assessment per homeowner, is $5,334.00.
Total estimated cost and timeline of the improvement.
(with 20% Contingency except for items with * which are fixed amounts).
The total estimated cost to rehabilitate the Canal is $705,000.00 of which homeowners will pay
50% ($352,500.00) and City of Miami will pay 50% ($352,500.00). The figures below are total
figures.
Part I of Assessment
Environmental Evaluation Assessment. $ 23,000.00* Due 30 days after Reso approval.
Purchase of the Canal. $ 35,000.00* Due 30 days after Reso approval.
Initial Vegetation Trimming. $ 14,400.00 Due 30 days after Reso approval.
Permit Processing Fees. $ 30,000.00* Due 30 days after Reso approval.
Permit Fees. $ 20,000.00' Due 30 days after Reso approval.
Mitigation Fees $ 10,000.00 Due 30 days after Reso approval.
Surveying & Title Services. $ 8,000.00* Due 30 days after Reso approval.
Sediment Testing & Engineering Fees. $ 3,600.00* Due 30 days after Reso approval.
Canal Dredging. $138,000.00 Due 50% 30 days after Reso approval
Canal Dred-gin-g. $138,000.00 Due 50% 90 days after Reso approval
Part 9 Total $420,000.00
Part 2 of Assessment
Permit Processing Fees. $ 30,000.00 Due 1 yr.+1 mo. after Reso approval
Legal Fees $ 17,000.00* Due 1 yr.+l mo. after Reso approval
Mitigation Fees $ 30,000.00 Due lyr.+lmo. after Reso approval
Part 2 Total $ 77,000.00
Part 3 of Assessment
Relocation of Existing Vegetation. $ 48.000.00 Due 2yr.+1 mo. after Reso approval
Part 3 Total $ 48,000.00
Part 4 of Assessment
Shoreline Stabilization. $ 160 000.00 Due 3yr.+1 mo. after Reso approval
Part 4 Total $ 160,000.00
Grand Total: $ 705,000.00
Note: Values are rounded off
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