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CAPITAL IMPROVRM~T PROGRAM (CIP) YRA.R - 1994~fS <br />AND <br />4~'GSTI;RN AR1/A PI3AS>; II: <br />Construction of Trunk Sewer & Water to County <br />Government Center <br />Construction of Orono Parkway to Joplin Street <br />Construction of Joplin Street from County Road #30 to <br />Highway 10 <br />Capital Improvement Progra~u (CIP) Year - 1994~q$ <br />Trunk Sewer & Water will be assessed out to the <br />benefited property owners. Any lateral sewer & water <br />extensions will also be assessed out to the benefited <br />property owners. <br />Orono Parkway will be assessed to the benefited property <br />owners and the City will finance the balance of the project <br />with MSA funds. <br />Joplin Street north of Orono Parkway will be assessed out <br />to the benefited property owners and the City will use <br />MSA funds to finance the balance of the project. Joplin <br />Street south of Orono Parkway will be financed and paid <br />by the developer of the Country Crossing plat. <br />All improvements associated with plats in this area, <br />including Country Crossing south of the Orono Parkway <br />extension, will be financed and paid by the developer. <br />$1.95 million total project - $1 million for trunk sewer <br />and water, $500,000 for street and storm sewer, and <br />$450,000 for Country Crossing <br />$1.95 million total project -The developer will finance <br />and pay $631,000 for the Country Crossing plat and their <br />share of Orono Parkway and Joplin Street south of Orono <br />Parkway. City MSA funds will finance $240,000 worth <br />of improvements on Orono Parkway and Joplin Street. <br />The City will bond for $1,079,000 worth of street and <br />trunk sewer and water improvements in the summer of <br />1994, and these bonds will be repaid over a 10-15 year <br />period through assessments to benefited property owners. <br />Page 1 <br />