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difficult to assess in built up areas especially for <br />replacement of existing storm sewer. This fund would <br />then be used to make storm sewer improvements within the <br />established district. The City will be exploring more <br />specifics prior to the Council meeting of December 14, <br />1987. <br />Pr02osed Funding <br />mElan _ - It is suggested that the City's <br />costs as noted in Attachent G be funded as follows: <br />ANNUAL <br />PRINCIPAL <br />+ 8% (EST) <br />COST PER INTEREST <br />ANNUAL FRONT FT UNPAID <br />TOTAL PRINCIPAL TOTAL —PRIN BALANCE <br />----------------------- ------ <br />GENERAL TAX FUNDS 247,829 <br />OR MSA <br />Signals/ROW/Retaining <br />Walls/Design <br />and Contract Admin <br />SPECIAL ASSESSMENT 107,747 <br />Driveways/Curb & Gutter/ <br />Sidewalks <br />STORM SEWER DISTRICT 72,314 <br />427,890 <br />24,800 <br />Residential $9.17/ft lst yr $.92 + $.73/ <br />ft going to <br />100 front ft = $917 Last yr $.92 + $.07/ft <br />Comm $18.35/ft 1st yr $1.83 + 1.46 <br />Last yr $1.83 + .14 <br />$7,200 <br />Street Lights - In addition the City is currently <br />exploring the cost and financing of a revised, <br />coordinated street lighting system thru Orono and Spring <br />Park to match Mound's planned lights. <br />The City has just received the agreement that the County <br />desires the City to enter into and this needs to be <br />reviewed prior to acceptance of final plans. <br />ALTERNATIVES <br />ISSUE _1. -- PLANS - The following represent alternative <br />actions the Council could take at the 11/23 meeting <br />1. Approval of final plans as presented. <br />2. Amendment of plans and approval. <br />3. Table for further consideration and/or information. <br />4. Rejection of final plans. <br />A <br />