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<br /> City Council Work Session Meeting <br /> January 23,2006 3 <br /> . <br /> Finance Director Siddiqui said that the City would need to have cash on hand to borrow money <br /> for the future. <br /> City Administrator Wolfe noted that currently the City only receives 50% back from the property <br /> owners for assessments and there is currently no dedicated revenue source for the utility funds. <br /> Mayor Aplikowski said that the City may have to evaluate other funding mechanisms in the <br /> future in order to find the neccssary revenue needed to cover the increasing cost for street <br /> improvements. <br /> Councilmember Holden requcsted that City staff provide the City Council with the overall cost <br /> for each project. <br /> Councilmember Larson asked ifCity staff is seeking pennission from the City Council to rework <br /> the existing ClP plan. <br /> City Administrator Wolfe said that City staff will reevaluate the financial aspect of our current <br /> ClP projects in order to determine what projects are obtainable with our current financial <br /> situation. <br /> . Councilmember Larson said that he is not opposed to discussing the bonding option for street <br /> improvements, but he belicves that the Ridgewood Neighborhood project should proceed as <br /> plmmed for 2006. <br /> City Administrator Wolfe said that City staff is not comfortable at this time to make a project <br /> recommendation to the City Council. The plans and specifications for this project were recently <br /> approved, but changes can be made in the future. <br /> Councilmember Holden agreed that the Ridgewood Neighborhood should proceed as planned, <br /> but she thinks that the residents are more concerned about water quality and storm water run-off <br /> then the condition of the streets. <br /> Councilmember Grant said that he doesn't believe that the City should consider bonding for <br /> street improvements. <br /> City Administrator Wolfe said that City staff will provide the City Council with options to <br /> consider in the future regarding funding mechanisms for street projects. <br /> Mayor Aplikowski requested that City Councilmembers keep an open mind to the different <br /> funding mechanisms that are available to the City for street improvements. <br /> . 2006 Lift Station Project-Bid Results <br /> Operations and Maintenance Director Tom Moore provided the City Council with an overview <br /> of the bids for refurbishing four lift stations. The projected proj ect cost for the four Iitl stations <br />