6.3. SR 02-22-1999 - Laserfiche WebLink

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. expected to proceed. The developers of Trott Brook Farms hope to have models available for the fall Parade of Homes. A great deal of discussion has taken place regarding phasing in this public improvement project. By ordering only Phase I of the trunk sewer and water project, there is less risk to the city in terms of cash flow issues and from an overall funding position. However, if the council proceeds in phases, I think everyone knows that we are committing to a larger project in order for federal funds for the street project to be used. In this manner, the Phase I sewer and water and street/storm sewer construction would be completed at the end of 2000 and construction for the second phase (going all the way down to 171 st Avenue and Highway 10 intersection) would need to begin in late 2002 and be completed by September 2004. If Phase II takes place in 2002, then we have an assessment issue to resolve with the Phase II land owners that were assessed for trunk sewer and water on 12/3/98. . In looking at the entire project, street and storm sewer along with the trunk sewer and water, there is a significant funding deficit for the council to address. Assuming that all the assessments are paid, the trunk sewer and water project is in better financial condition than the street/storm sewer project. This better financial position is based on the water utilities committing to paying the $800,000 shortage. This commitment includes a worst case scenario request for $300,000 to be available if required via the TIF project. The trunk sewer line shortage of approximately $200,000 needs to be financed by the wastewater treatment plant (WWTP) enterprise fund over the life of the bond which is expected to be a 20 year proposal. At this time the lift station at approximately $630,000 is proposed to be financed by way of TIF 19. The final decision on the funding components within TIF 19 has not yet been made. The recent newspaper article includes some maximum funding figures. The totals for the city share of TIF No. 19 can always come down if the funds are not needed (i.e. water department request) or if alternative funding sources are used. However, it is much more difficult to go back after a few years and amend a TIF Plan to spend more money on city improvements. Accordingly, the TIF No. 19 Plan is dealing with some very large numbers. If no redevelopment project took place and no TIF monies were available, the city could still move forward with this trunk sewer and water project based on the water utilities commitment and action that is recommended the City Council take regarding the approximately $200,000 commitment from the sewer department. With this trunk sewer and water project, only the lift station at approximately $630,000 is planned to be funded by way of TIF No. 19. If no TIF No. 19 took place, this lift station expense would need to be . resolved by the City Council.