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EDA Development Fund - $700,000 <br />City Development Fund - $350,000 <br />Trunk Water Fund - $175,000 <br />Trunk Sewer Fund - $88.000 <br />Total Project - $1,313,000 <br />Special assessments will not be levied for this project because the city owns the land adjacent <br />to all of the improvements. Staff will track the overall project costs to determine what a <br />proposed assessment would be in Phase 1, so similar amounts can be recovered from adjacent <br />properties in future phases of the development. Another reason we intend to track the <br />assessment amount on the parcels in Phase 1 is to ensure when we sell the lots that we know <br />our costs for the parcel. <br />If staff is directed to proceed with the project, we will continue to pursue all available funding <br />opportunities to offset some of the costs for this project. If a funding source is obtained, the <br />funding would be used to offset the EDA development funding for this project. <br />Project Schedule <br />With direction from the City Council to proceed with the project, the following steps can be <br />followed to facilitate construction of Phase 1 in 2012. The tasks would be completed as <br />follows: <br />• Confirm funding participation from Economic Development Authority <br /> January 9, 2011 <br />• Review wetland impacts of preliminary improvement layout with the Technical <br /> Evaluation Panel (TEP) - January, 2012 <br />• Approve engineering services request for proposal (RFP) for final design and <br /> construction related engineering services - January 9, 2012 <br />• Select engineering consultant and authorize final design - February 20, 2012 <br />• Vacate existing Right-of--Way and complete platting of pro posed lots - <br /> March-April, 2012 <br />• Complete Land Use Amendments - April, 2012 <br />• Finalize wetland alteration permitting with TEP - March-May, 2012 <br />• Procure final project permits from MPCA and MDH - April-May, 2012 <br />• Approve final plans and advertise for bids - May 7, 2012 <br />• Start construction - June 15, 2012 <br />• Finish construction - October, 2012 <br />Staff will be present at the December 12 meeting to answer any questions you have. <br />