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ITEM '5.0 <br /> Aih ELK RIVER HOUSING AND REDEVELOPMENT AUTHORITY <br /> MEMORANDUM <br /> TO: Housing & Redevelopment Authority <br /> City Council <br /> FROM: Pat Klaers, City Administrator <br /> DATE: February 26, 2001 <br /> SUBJECT: Downtown Sidewalks <br /> Attached for your review is material from the City Engineer regarding the <br /> sidewalk project.This material includes a feasibility study, resolutions for <br /> City Council consideration,and the notice to downtown property and <br /> business owners regarding the March 1, 2001 Informational Meeting. <br /> Downtown sidewalks are not a new topic for either the HRA or the City <br /> • Council and the sidewalks were discussed in detail at both the January 22 <br /> and February 12, 2001 meetings. On February 12, 2001, assessment options <br /> that would generate between $42,900 and $58,500 were reviewed. A final <br /> assessment amount and method can be picked from any of the three <br /> examples that were offered on February 12, 2001, or a higher/lower amount <br /> could be selected.For discussion purposes, the feasibility report includes an <br /> assessment amount of$1500 per unit and the assessment formula be 50%per <br /> unit and 50% per footage. This amount and method generates $58,500 in <br /> assessments. <br /> At the February 15, 2001, Utilities Commission meeting this project was <br /> discussed. The Utility Commission was "OK" with the concept of paying for <br /> the removal of the sidewalk on the north side of Main Street provided that <br /> the city funds the sidewalk replacement. It was noted that the Utilities could <br /> do spring work in the King/Main area even if the downtown business and <br /> property owners desire the sidewalk project be completed after the Arts Soup <br /> Festival. <br /> Almost any way you work this estimated $290,000 project, the HRA ends up <br /> paying somewhere in the neighborhood of$215,000. As previously reviewed <br /> with the HRA, it is suggested that the current fund balance of the HRA, <br /> • which stands at $90,000, be applied toward this project and that the balance <br /> due of approximately $125,000 be financed by the HRA over a 4-5 year <br /> P.O. Box 490 • 13065 Orono Parkway • Elk River, MN 55330-1743 • (612) 441-7420 • Fax: (612) 441-7425 <br /> Equal Opportunity Housing and Equal Opportunity Employment <br />