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<br />~ <br /> <br /> <br />EDA Acquires Property <br />City Council Orders Feasibility Study <br />City Council Receives Feasibility Study and <br />Orders the Public Hearing <br />City Council Authorizes Preparation of <br />Plans/Specifications and Platting <br />City Council Holds Public Hearing and Orders <br />Improvement <br />City Council Approves Plans/Specifications for <br />First Phase Utilities and Authorizes Advertisement <br />for Bids <br />Planning Commission Reviews Preliminary Plat <br />Bid Open <br />City Council Approves Bid and Awards Contract <br />Construction Begins <br />City Council determines cost to be assessed and <br />sets Assessment Hearing <br />City Council Holds Assessment Hearing/Adopts <br />Assessment Roll <br />Construction Complete <br /> <br />1999 <br />April 4, 2005 <br />June 6, 2005 <br /> <br />June 6, 2005 <br /> <br />July 5, 2005 <br />July 18, 2005 <br /> <br />July 26,2005 <br />August 10, 2005 <br />August 15, 2005 <br />August 2005 <br />September 6,2005 <br /> <br />October 3, 2005 <br /> <br />October 2005 <br /> <br />XII. CONCLUSION <br /> <br />The total estimated project cost for the recommended development of the entire <br />Northstar Business Park including overhead costs is $1,307,600. The project is <br />beneficial to the community. As previously stated, this cost will be financed through <br />assessment of the cost to the benefiting property owned by the city and paid through the <br />use of TIF and/or Tax Rebate proceeds from lot development. To minimize the financial <br />risk, it is recommended only a partial construction (underground utilities) of the first <br />phase proceed at this time. The estimate cost of this approach is $250,000. <br /> <br />Based on the information gathered and the analysis presented, the proposed <br />improvements discussed in this study are feasible from an engineering standpoint. <br /> <br />6 <br />