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09-23-2002 Council Packet
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09-23-2002 Council Packet
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r i *; f ^ • <br />fund. The Park Dedication Fund has approximately S40.000 of funds available at this time to use <br />for this project This would require a loan of $65,000 from the Community Investment Fund to <br />finance construction of the Hackbeny Paric Improvements <br />Our staff recommendation is that the Council award the contract for the Hackbeny Park <br />Improvements. This will allow for work to begin on the project this frdl. However, the extent of <br />constniction that will be completed this frdl is uncertain. The staff recommendation is that the <br />Council approve a loan in the amount of $65,000 from the Community Investment Fund to the Park <br />Dedication Fund at an annual interest rate of 5% for the completion of the Hackberry Park <br />Im|»ovements Project <br />COUNCIL ACTION REQUESTED <br />Award contiact for the Hackberry Paric Improvements Project to Odesa Construction, Gilman <br />Minnesota in the base-bid amount of$I02,I46.01 with approval ofa budget adjustment for the Park <br />Dedication fund to reflect this expenditure. <br />Approve a loan in the amount of $65,000 from the Community Investment Fund to the Park <br />Dedication Fund at an annual interest rate of 5% for the Hackbeny Park Improvements project. The <br />loan is to be repaid as soon as possible as Paric Dedication fees become available. <br />Fige2of 2
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