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ELK <br /> <br />RIVER <br /> <br />HOUSING <br /> <br />AND <br /> <br />REDEVELOPMENT <br /> <br />AUTHORITY <br /> <br />MEMORANDUM <br /> <br />TO: ' <br /> <br />FROM: <br /> <br />DATE: <br /> <br />SUBJECT: <br /> <br />Housing & Redevelopment Authority <br />City Council <br /> <br />Pat Klaers, City Administrator <br /> <br />February 26, 2001 <br /> <br />Downtown Sidewalks <br /> <br />Attached for your review is material from the City Engineer regarding the <br />sideWalk project. This material includes a feasibility study, resolutions for <br />City Council consideration, and the notice to downtown property and <br />business owners regarding the March 1, 2001 Informational Meeting. <br /> <br />Downtown sidewalks are not a new topic for either the HRA or the City <br />Council and the sidewalks were discussed in detail at both the January 22 <br />and February 12, 2001 meetings. On February 12, 2001, assessment options <br />that would generate between $42,900 and $58,500 were reviewed. A final <br />assessment amount and method can be picked from any of the three <br />examples that were offered on February 12, 2001, or a higher/lower amount <br />could be selected. For discussion purposes, the feasibility report includes an <br />assessment amount of $1500 per unit and the assessment formula be 50% per <br />unit and 50% per footage. This amount and method generates $58,500 in <br />assessments. <br /> <br />At the February 15, 2001, Utilities Commission meeting this project was <br />discussed. The Utility Commission was "OK" with the concept of paying for <br />the removal of the sidewalk on the north side of Main Street provided that <br />the city funds the sidewalk replacement. It was noted that the Utilities could <br />do spring work in the King/Main area even if the downtown business and <br />property owners desire the sidewalk project be completed after the Arts Soup <br />Festival. <br /> <br />Almost any way you work this estimated $290,000 project, the HRA ends up <br />paying somewhere in the neighborhood of $215,000. As previously reviewed <br />with the HtL~, it is suggested that the current fund balance of the HILt, <br />which stands at $90,000, be applied toward this project and that the balance <br />due of approximately $125,000 be financed by the HRA over a 4-5 year <br /> <br />P.O. Box 490 ° 13065 Orono Parkway ° Elk River, MN 55330-1743 ° (612) 441-7420 · Fax: (612) 441-7425 <br /> Equal Opportunity Housing and Equal Opportunity Employment <br /> <br /> <br />