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-~ r ~~ ITEM 5.4. <br />{ <br />~~ <br />'ity of ~ MEMORANDUM <br />ilk TO: Mayor & City Council <br />River <br />FROM: Pat Klaers, City Admini r or <br />DATE: September 5, 1995 f <br />SUBJECT: Dodge Avenue/Elk Hills Drive <br />Consideration of the bids for the Dodge AvenuelElk Hills Drive improvement <br />project was tabled at the last meeting because the city had not received a <br />Letter of Credit from the developers for their portion of the project. This <br />Letter of Credit has now been received and is in a form acceptable to the <br />Assistant City Administrator and the City Attorney. This Letter of Credit <br />allows the city to assess out $145,000 worth of benefit for the street <br />improvements. <br />With this Letter of Credit being in place, staff recommends that the City <br />Council approve a motion that awards the Dodge Avenue/Elk Hills Drive <br />construction bid to Forest Lake Contracting in the amount of $386,620.30. <br />The City Council should note that the Perkins project will not be proceeding <br />for a few weeks due to the need to record the plat, sign and record the <br />Developers Agreement, and sign and record the PUD agreement. Likewise, <br />the road construction project also will not start for a few days due to the need <br />for permanent easements and construction easements from the developer and <br />REP, Ltd. <br />13065 Orono Parkway • P.O. Box 490 • Elk River, MN 55330 • (612) 441-7420 • Fax: (612) 441-7425 <br />waSE[A <br />