4.6. SR 20-18-1996 - Laserfiche WebLink

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ITEM 4.6. a-b MEMORANDUM City of River FROM: DATE: Mayor & City Council Pat Klaers, City Adn~Wator October 28, 1996 ~ SUBJECT: Surface Water Management (SWM) Issues A. Funding Options for Recent Projects The need to fund recent 1995-96 projects has been discussed by the staff and City Council at a number of meetings in the past six months including the April 15 CIP meeting and the September 9 budget meeting. Highlighted at these meetings was the city's need to fund the SWM component of the Western Area Phase II project, the Main/Evans project, and the north Joplin Street frontage road project (1997). The cost for these projects is estimated to exceed $750,000. Additional bonding is one funding option to consider, but the city has already issued bonds in excess of $1 million for SWM projects that were completed in the early to mid 1990's. After extensive discussion, review, and analysis of this situation, it is staffs recommendation that the city dedicate funds from TIF No. 2 and No. 3 to these SWM projects. This expenditure for these types of projects is consistent with state law and if approved it is then planned that the city would amend the budgets for these districts. Please see the attached memo from Director of Economic Development Paul Steinman regarding this district amendment issue. Recommendations It is recommended that the City Council approve the expenditure of TIF No. 2 and No. 3 funds for SWM projects which do not have another funding source; these may include Fresno, Westwood, Western Area Phase II, Main/Evans, and North Joplin Street frontage road. It is recommended that the City Council call a public hearing for December 16, 1996, to amend TIF Districts No. 2 and No. 3. B. Review 1997-98 Projects It is anticipated that the SWM projects for the next few years will include the upgrade of Ditch 28 from the railroad tracks to the river, 13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425