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PROJECT DESCRIPTION ~ COST AND FINANCING <br />SURFACE WATER MANAGEMENT PROGRAM: <br />Main Street and Evans Avenue Intersection <br />Reconstruction <br />$175,000 -The City will bond for this project in the <br />summer of 1995, and these bonds will be repaid over a <br />15 year period with funds collected through the City <br />Surface Water Management Utility Fee and funds <br />generated by Developer Impact Fees. <br />169/10 Railroad Crossing Ditch and Pipe Enlargement <br />COUNTY STATE AID HIGHWAY 1: <br />Reconstruct to urban standards from Proctor Avenue to <br />Meadowvale Road. The second phase of this project will <br />take place in 1996 and is from Meadowvale Road to <br />County Road 32. <br />183RD AVENUE: <br />Construct 183rd Avenue from Joplin Street to Naples <br />Street in Sandpiper Estates Subdivision <br />$100,000 - (same as above) <br />$1.5 million for both phases -The County will pay and <br />finance .the majority of this project. Some City <br />participation with MSA funds will be necessary. <br />$145,000 -This will mainly be the responsibility of the <br />developer of Country Crossings 2nd Addition. Some <br />capital projects reserve funds may need to be used for <br />the City share of the project. <br />ELI RIVER BUSINESS PARI{: <br />Install lateral sewer and water and streets in the EDA <br />owned Elk River Business Park. The service road for <br />this development may not begin until 1996. This road <br />will go from Joplin Street to the County Government <br />Center service drive. <br />$650,000 -The EDA will require City Council <br />concurrence on a financing plan that will be developed in <br />1994. MSA funds will be used and participation from <br />some City reserve funds will be necessary to temporarily <br />repay some EDA bonds (15 year schedule). <br />Capital Improvement Program (CIP)1 ear - 19~Ju <br />Page 2 <br />