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PROJECT DESCRIPTION <br /> <br />CAPITAL IMPROVEMENT PROGRAM (CIP) YEAR <br /> <br /> COST AND FINANCING <br /> <br /> COMPLETE 1997 PROJECTS: <br />/q;~r~¢t~ /County Road 12 trunk sewer and water extension. <br /> ~Dodge Avenue and 5th Street project <br /> County Road I project <br /> vn~- :'- .... t~o~ ..... ~ cf recreation fields Phase I project <br /> Business Park Phase II <br /> <br /> WESTERN AREA PHASE III: <br /> Construction of trunk sewer and water and storm sewer <br /> west from Sandpiper Estates Subdivision to Waco Street. <br /> Lateral sewer and water and storm sewer will be <br /> constructed under Waco Street north to Highway 10, and <br />__tt~ st. Leet_wil_l b__e rec_ons__tructed to urban standards. <br /> Business Center Drive with lateral sewer, ~un-k-w~-er, <br /> and storm sewer will be constructed from the <br /> Government Center west to Waco Street. <br /> <br /> SCHOOL STREET EXPANSION: <br /> Expansion of School Street from two lanes to four lanes <br /> from County Road I to the east to where four lanes end <br /> at the Senior High School. This project will include some <br /> reconstruction of the School Street/County Road 1 <br /> intersection and of School Street west of County Road 1. <br /> <br />Capital Improvement Program (CIP) Year - 1998 ] ~ ~ <br /> <br />SEE 1997 CIP NARRATIVE <br /> <br />DRAFt <br /> <br />$1,300,000 - Trunk sewer and water will be assessed <br />out to benefited property owners. Lateral sewer and <br />water extensions will also be assessed out to benefited <br />property owners. Street and storm sewer will also be <br />assessed out, but some city participation with MSA <br />funds and MnDOT participation is expected. The city <br />may enter into an assessment agreement with the <br />Business Park landowner in order to encourage an <br />Economic Development partnership. City financial <br />participation in the assessment agreement would come <br />from the city development reserve fund. <br /> <br />$250,000 - The city will assess 50 percent of the project <br />to benefited property owners. This $125,000 amount <br />will be bonded and repaid over a ten year period. The <br />city share of $125,000 will be financed with municipal <br />state aid funds (100,000) and city street reserves <br />(25,000). <br /> <br />Page i <br /> <br /> <br />