Laserfiche WebLink
requesting the advance is at Exhibit A. <br />c. School Funding. The Orono School District has requested that the City initially pay for the <br />entire project. The District will reimburse the City for their share of the project cost, currently estimated <br />at $839,367.50, over a period of 9 years at an interest rate of 2%. The city will provide funding for the <br />school portion via an inter fund loan from the utility funds. The Districts share will be finalized when <br />upon bid approval on May 29. The Districts share will be finalized when upon bid approval on May 29. <br />6. Cooperative Agreement. Since the project is a partnership between the City and the School District, <br />a cooperative agreement laying out responsibilities is required. A draft Agreement is at Exhibit B. Staff <br />intends to bring the agreement back for final approval on May 29th. <br />7. Timing. <br />Nov 27, 2017 <br />Feasibility report presentation / Design Fee Approval <br />Nov -Jan <br />Coordination meetings with School/ preliminary design development <br />January 22, 2018 <br />Authorization to complete detailed design <br />April 2018 <br />Solicit Bids; Cooperative agreement approval <br />May 15, 2018 <br />Tree Removal <br />May 29, 2018 <br />Award <br />Jun -Sep 2018 <br />Construction <br />COUNCIL ACTION REQUESTED: <br />1. Move to adopt the resolution for and advance Municipal State Aid Funds <br />2. Provide staff guidance on Cooperative Agreement. <br />Exhibits <br />Exhibit A. Resolution to Advance Municipal State Aid Funds <br />Exhibit B. Draft Cooperative Agreement. <br />Prepared By: Reviewed By: 5bV Approved By: 5bV <br />