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<br /> <br />Item 5.4. <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />Mayor & City Council <br /> <br />FROM: <br /> <br />Pat Klaers, City Admi~or <br />November 30, 1998 1 ~ <br /> <br />DATE: <br /> <br />SUBJECT: East Elk River <br /> <br />. <br /> <br />The trunk sewer and water bids have been received and are being evaluated. <br />The bids are higher than the engineer's estimate as included in the July 1997 <br />feasibility report. The trunk sewer and water assessment public hearing is <br />scheduled for a special city council meeting on Thursday, December 3, 1998, <br />at 6 p.m. in the City Council Chambers. On December 3 it is expected that <br />the City Council will assess the benefited property owners in the trunk sewer <br />and water project area $6,000 per acre, and other City Council action (on the <br />bid award) is possible. <br /> <br />The purpose of this November 30 agenda item it to try to get everyone <br />prepared for the 12/3 assessment public hearing. In this regard, on Monday <br />evening, staff plans to review the bids with the Council, discuss the shortage <br />between the bids and the assessment amounts; review funding options for <br />the shortage, and most importantly, discuss cash flow issues with making <br />bond payments. Additionally, we will discuss the anticipated property owner <br />comments, requests, and assessment appeals. The agenda and background <br />material for the assessment public hearing V\ill be distributed Monday <br />evenIng. <br /> <br />. <br /> <br />The trunk sewer and water project is only part of the entire eastern Elk <br />River public improvement project. In order to adequately prepare for the <br />12/3 meeting, the Council also needs to look at the other components of the <br />east Elk River project. Mter federal grant paper work is completed, the city <br />anticipates bidding out the street and storm sewer components of the east <br />Elk River project. There are less financial shortage concerns related to the <br />street project because of the number of funding sources available (grant, <br />developer payments, TIF, MSA funds, etc.). However, there are significant <br /> <br />13065 Orono Parkway. P.O. Box 490. Elk River, MN 55330. TOO & Phone: (612) 441-7420. Fax: (612) 441-7425 <br />