Laserfiche WebLink
OLID Proposed Budget 2020 — Goal 1 <br /> Project/Activity Description: LORE Property Owner Contribution to City of Elk River Budget <br /> Establish a program to remove approximately 125,500 cubic yards of <br /> sediment to return Lake Orono to its historic baseline depth <br /> (an average of 5' or greater), conduct a drawdown and freeze to <br /> control Curly-leaf Pondweed in all fully exposed lake bed areas, and <br /> provide fisheries and habitat improvements. <br /> Lake Orono *First of a five-year $837.15 lakeshore property owner annual <br /> 1 Restoration and assessment ($4,185.75 in total per full unit, including an estimated $650,000 <br /> Enhancement 3.85% interest if financed over 5 years) providing the $650,000 in <br /> principal needed for the Lake Orono Restoration and Enhancement <br /> (LORE) Project to advance. This assessment is to match the City <br /> property contribution of $100,000; $1,000,000 local option sales tax <br /> and state general obligation bonds of $1,500,000 already committed <br /> to meet the no more than $3,250,000 budgeted project expenses. <br /> Total cost of goal 1 over five years $650,000* <br />