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ITEM # 5. <br /> • _1/ <br /> City <br /> l <br /> Ek <br /> River <br /> MEMORANDUM <br /> TO: Economic Development Authority <br /> FROM: Catherine Mehelich, Director of Economic Development2 f' <br /> DATE: July I I, 2005 <br /> SUBJECT: Northstar Business Park Development Update <br /> Attachments <br /> • Northstar Business Park Preliminary Plat <br /> Recent Activities <br /> Improvement Project Schedule and Plat <br /> 4111 In May the EDA provided comment on the feasibility study and recommended an option <br /> that would prepare plans and specifications and platting for the entire area but only proceed <br /> with underground utilities in the first phase. Upon the EDA's recommendation the Council <br /> received the feasibility study and most recently held a public hearing and ordered the <br /> improvement. <br /> The preliminary plat and improvement concept have changed slightly from the EDA's <br /> original concept in order to accommodate three prospects. The attached preliminary plat <br /> reduces the improvement cost by removing the original cul-de-sac into the proposed YMCA <br /> lot. The initial sale of three lots affords the EDA to undertake the entire improvement <br /> project and cost. <br /> Following is the remaining schedule for the improvement project to allow for fall/winter <br /> new business construction: <br /> • Council approves plans/specs for first phase utilities and July 18 <br /> authorizes advertisement for bids <br /> • Planning Commission reviews preliminary plat July 26 <br /> • Council reviews and approves preliminary and final plat August <br /> • Bid open August <br /> • Council approves bid and awards contract August <br /> • Construction begins August <br /> • • Council determines cost to be assessed and sets September <br /> assessment hearing <br />