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- Determine the city "holding" costs for Phase I. (The difference <br />between the cost of the project and the amount assessed to <br />. property owners...these "holding" costs are in addition to any <br />city subsidies to industrial properties.) <br />- Determine the source of funds for "holding" costs <br />- Estimate Green Acres assessment deferrals and rate which <br />deferrals will end and the properties will begin paying <br />assessments. <br />- Determine most appropriate bond repayment structure and <br />potential impact on city tax levy to meet bond obligations <br />(due to Green Acres and city "holding" costs). <br />7. Review timetable for East Elk River Public Improvement Project. <br />- Fall 1995 -receive second appraisal for East Elk River Project . <br />- Fall 1995 -complete feasibility study for ultimate sewer and <br />water district and order feasibility study for Phase I . <br />- Fall/Winter 1995 -City Council holds public informational <br />meeting on the East Elk River Public <br />Improvement Project. <br />- Winter 1995/96 - Phase I trunk sewer and water <br />feasibility study received and accepted by council. <br />- Winter 1995/96 -City Council orders plans and specifications <br />for Phase I. <br />- Spring 1996 -City Council orders the acquisition of easements <br />for Phase I trunk sewer and water project. (Evergreen <br />Company contracted services.) <br />- Summer 1996 -City Council holds public hearing on Phase I. <br />(begins the assessment process.) <br />- Summer 1996 -City Council orders Phase I Public Improvement <br />Project and advertises for bids...ASSESSMENTS ARE <br />NOW PENDING. <br />- Summer 1996-City Council holds assessment hearing for Phase I. <br />- Fall 1996 -easement acquisition is completed. (6 to 7 months <br />after ordered.) <br />- Fall 1996 -after assessment appeals have been received, City <br />Council decides if Phase I should be authorized and <br />bids approved...it takes 12 - 15 months from approving <br />bids until the pipes are in the ground and ready for <br />hookups. <br />• 8. Review staff comments on current City Development Policy. <br />