8.1. SR 06-17-2019 - Laserfiche WebLink

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hydraulic model, which according to the DNR, the water levels abutting the properties along 189th Avenue NW would be significantly lower without the dam. The OLID petition also included information about the Lake Orono Restoration and Enhancement (LORE) dredging project. The proposed OLID and the LORE are related but are two separate topics. The City Council could proceed with the LORE dredging project and assess a portion of the costs of the LORE project to lakeshore properties whether or not the OLID is established. When the lake was dredged in 1998, the Council determined the property owners on the lake received a greater benefit than the rest of the community and those property owners were assessed 50% of the project costs. The current proposed $3 million budget for the LORE project includes $1.5 million funded through a State of Minnesota Grant and $1 million funded through the local option sales tax. A study performed by the University of Minnesota Extension Service showed that 45% of sales taxes paid in Elk River will be paid by non -Elk River residents; therefore visitors to the city would be contributing approximately $450,000 to the LORE project, with Elk River households contributing the remaining $550,000 of sales tax revenue. Of the final $750,000, approximately $100,000 would be assessed to the City of Elk River and paid by all of Elk River through property taxes. The final $650,000 (20%) of the total LORE cost would be assessed to the benefitting property owners. State law provides a remedy for property owners not in support of the OLID, which is a second petition for a referendum with a required 26% of the proposed district's signatures. That second petition would initiate an election. If the OLID is approved, the property owners within the OLID boundary would meet annually and vote on an annual budget. This budget would then be required to be considered by the city prior to September 15 of each year in accordance with normal budget timelines the city currently follows. Financial Impact None Attachments ■ Certification of Orono Lake Improvement District Signature Verification ■ Proposed OLID Boundary Map ■ DNR Advisory Report on the Formation of the Lake Orono Improvement District in Sherburne County ■ DNR Comment Letter Regarding Lake Boundary ■ Draft Resolution of Approval and Order Establishing the Orono Lake Improvement District ■ Draft Resolution of Denial ■ Comments from Public N:APublic Bodies\Agenda Packets\06-17-2019\Final\x8.1 sr Orono Lake Improvement District (OLID).docx