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ITEM 5 <br />MEMORANDUM <br />ver TO: Mayor & City Council <br />FROM: Pat Klaers, City Administer r <br />~- DATE: February 20, 1995. <br />SUBJECT: Agenda Memo <br />The itv Council has previously received some material in preparation <br />this 2 CIP meeting. This material included 1993 and 1994 CIP <br />worksessr minutes and the status report from the City Engineer current <br />projects. <br />Attached for your re w is the 4/27/94 CIP that was pu ogether for our <br />1994 bond issue. The a 't pages at the back of thi ocument are year end <br />1993 figures. Also attache is some 1995 Wast ater Treatment Plant <br />(W4~~TP) financial information, Bill Rubin emo on TIF funds, and some <br />overall 1995 CIP financial inform 'on. <br />It is anticipated that most of thi 20 C eeting will be dedicated to <br />• reviewing current projects a antes. The esentations on current <br />projects will include a m' f long term and shor rm projects. A few of the <br />discussion. topics will new while most of the other ill be updates on the <br />status of previous reviewed topics. <br />Some items at need to be discussed are listed below. These a in addition <br />to the ite ~in the previously distributed City Engineer status rep .There <br />is not extensive review of the issues listed below as they are rather <br />tom " ex and difficult to discuss on paper. Nonetheless, I want everyone to <br />kfiow that these topics will need some discussion. <br />`~ Surface W¢ter M¢n¢eement (SWMI -The City Engineer will want <br />~l` to specifically discuss activities in the western area of the City. <br />The financing of SWM projects is the number one CIP financial <br />concern that Lori and I have. In 1994, we spent approximately $1 <br />million for projects. In 1995, we need to spend money on storm <br />drainage for the Western Area Phase II project, and we have goals to <br />complete the Main/Evans street project, and to install the culvert <br />underneath the railroad crossing. If all of these activities take place in <br />1995, we will be over 5600,000 in debt in addition to the $1 million <br />• bond issue we have already spent. ' <br />13065 Orono Parkway • P.O. Box 490 • Elk River, MN ~~330 • (613) 441-7420 • Fax: (612) 441-742 <br />