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Page 2 of 2 <br /> <br />On January 15, 2020, the Karth Lake Improvement District Board confirmed their <br />recommendation for Option 1 and discussed a recommended funding strategy for <br />implementation. The Board’s recommendation is to levy the cost for Option 1 in the estimated <br />amount of $13,002 within the District over a two year period with taxes paid in 2021 and 2022 as <br />further described in the attached Board resolution provided in Attachment B. <br /> <br />The City Council discussed the KLID Board resolution at the January 21, 2020 work session and <br />requested staff to provide additional information regarding funding for potential damage or loss <br />of the pump or control cabinet in the future. Staff is available to discuss the following additional <br />information and address questions from the City Council at the work session on February 18th. <br /> <br />1. The risk of future damage or loss of the Karth Lake pump was reviewed by the City <br />Attorney. Mr. Jamnik recommends that the City maintain LMCIT property insurance <br />coverage for the pump and control cabinet to address concerns with future damage or loss. <br />He also indicated that the City does receive some risk management benefits from providing <br />the pump and possibly mitigating the risk of fluctuating water levels on riparian properties. <br /> <br />2. A copy of the Karth Lake Estates plat depicting the boundary of the drainage and utility <br />easement encompassing the lake is provided in Attachment C. A copy of the drainage area <br />map for Karth Lake is provided in Attachment D. A map of parcels within the Karth Lake <br />Improvement District is provided in Attachment E. <br /> <br />3. The City Administrator confirmed that the Karth Lake pump and control cabinet are included <br />under the City’s existing LMCIT coverage. <br /> <br />4. The Karth Lake Improvement District Board intends to conduct a board meeting in April <br />2020. The meeting agenda will include consideration of a future annual levy after 2022 to <br />generate a fund balance for future projects and maintenance costs. <br /> <br />Based on Council direction, staff can prepare an agenda item for an upcoming City Council <br />meeting to authorize the Public Works Department to proceed with ordering the pump and <br />cabinet components. <br /> <br /> <br />Attachments <br /> <br />Attachment A – Price Quotation Information <br />Attachment B – KLID Board Resolution <br />Attachment C: Karth Lake Estates Plat <br />Attachment D: Karth Lake Watershed Map <br />Attachment E: Improvement District Parcels Map