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In May, the Council requested information regarding the potential city costs of ownership. City costs are <br /> dependent upon the requirements associated with the grant funding. Potential costs include public access <br /> to the Elk and Mississippi Rivers as well as parking and trails and security, similar to the plans for the <br /> Bailey Point Nature Preserve. Grant opportunities through the Legacy Fund may exist to offset some <br /> capital costs. The site is proposed as a Regional Park through the DNR Legacy Program,making grants <br /> for restoration and maintenance available from a variety of sources with assistance from The <br /> Conservation Fund and the Friends of the Mississippi River. <br /> FINANCIAL IMPACT <br /> The city will need to provide staff time and legal services for contracts and agreements (such as this Letter <br /> of Intent) that may be required for the successful funding and closing of the acquisition. Staff will receive <br /> assistance with the grant writing but it will still require additional staff time for the meetings and reports. <br /> The maintenance of the property should be kept to a minimum,however low maintenance prairie <br /> plantings, Buckthorn mitigation, capital improvements and maintenance need to be accounted for or <br /> recognized before going forward. <br /> ATTACHMENTS <br /> • Attachment 1 Houlton property letter of intent <br /> • Attachment 2 Houlton property site map <br /> • Attachment 3 Houlton buildings <br /> • Attachment 4 Houlton proposed trails map <br /> N:APublic Bodies\Agenda Packets\7-01-2013\Final\x8.1 sr letter of intent for Houlton.docx <br />