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<br />r I -\.) <br />( )j <br />flk <br /> <br />MEMORANDUM <br /> <br /> <br />DATE: <br /> <br />MAYOR & CITY COUNC~~/ <br />PAT KLAERS, CITY AD~RATOR <br />MARCH 3, 1994 <br /> <br />TO: <br /> <br />FROM: <br /> <br />SUBJECT: STORM SEWER FUNDS <br /> <br />e <br /> <br />Attached are the preliminary surface water management fee revenue <br />estimates and the status of the storm sewer fund that were reviewed by the <br />City Council at the 2/21/94 CIP meeting. It should be noted that on the <br />storm sewer fund page, the Main and Evans cost shown is low and this page <br />does not include this highway pipes expenditure of $413,000 or the cost of <br />the culvert that needs to be improved at the railroad crossing in order to get <br />water to the 72 inch pipe. Accordingly, if all the known projects take place in <br />1994, the City will have a fund that is approximately 1.4 to $1.5 million in <br />debt before any revenues are received. If the City collects nearly $250,000 <br />per year, the cost of the improvements identified to be completed before the <br />end of 1994 will be paid off around 2002. This excludes any additional storm <br />drainage improvements that may become necessary in the next eight years. <br /> <br />- <br /> <br />P.O. Box 490 · 13065 Orono Parkway · Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425 <br />