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<br />.. <br /> <br /> <br />I. INTRODUCTION <br /> <br />On April 4, 2005 the City Council adopted Resolution 05-34 ordering the feasibility study <br />for the development of the Northstar Business Park. The Council took this action in <br />response to a recommendation from the Economic Development Authority (EDA). The <br />area to be included in the project is shown on Exhibit 1. The land is officially owned by <br />the EDA. <br /> <br />II. PROJECT SCOPE <br /> <br />The purpose of this study is to analyze the development of the public improvements for <br />the Northstar Business Park development. The study will discuss the existing <br />conditions, proposed improvements, phasing, estimated construction costs, and <br />overhead costs which include city administration, design and construction engineering, <br />fiscal, and legal expenses. <br /> <br />III. NECESSITY AND COST-EFFECTIVENESS <br /> <br />The improvements proposed in this study are necessary for a number of reasons. The <br />construction of the development is a means of increasing the City's future property tax <br />base, create quality job opportunities for current and future residents, and protect the <br />long-term vitality of adjacent commercial and residential areas. <br /> <br />The proposed improvements constitute a large enough project to attract competitive bids <br />and therefore can be built in a cost-effective manner. Based on this information the <br />project is necessary and cost-effective <br /> <br />IV. EXISTING CONDITIONS <br /> <br />Northstar Business Park is currently undeveloped. The site is approximately 80 acres. <br />Roughly half of the area is wetland and cannot be developed as shown on Exhibit 1. A <br />Northern Natural Gas (NNG) main that runs between the northern and southern property <br />lines. Grades on or near the NNG main cannot be changed and permanent structures <br />can not be built in this easement. Overhead power lines border the property on the west <br />and north property lines. The power line along the west side of the property crosses the <br />western edge of proposed Lot 7. Northstar Business Park is bordered by Elk River <br />Business Park to the north, Twin Lakes Road to the east, and Burlington Northern Rail <br />Road to the west. The property is currently not platted, the concept plan includes 9 Ids <br />in varying size as shown on Exhibit 2. A regional storm water pond is located near the <br />northwest corner of the site. This pond was constructed to to serve the storm sewer <br />system in Twin Lakes Road. <br /> <br />1 <br />