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Attachment B Ito.- ---AVEN HILLS MEMORANDUM DATE: September 22, 2003 Agenda Item S.A. TO: Mayor and Council Michelle Wolfe, City Administrator FROM: Aaron Parrish, Director of Community Services SUBJECT: Resolution No. 03-60 Establishing the Karth Lake Improvement District and Adopting Board Bylaws ENCLOSURES: i. Resolution No. 03-60 Establishing the Karth Lake Improvement District and Adopting Board Bylaws 2. September 9, 2003 Letter to Karth Lake Residents 3. Karth Lake Pumping Project Tax Analysis: Parcel Specific Estimates Overview Resolution #03-55 ordered the creation of the Karth Lake Improvement District and set a public hearing for approval of the District. Subsequent to this direction, the following has occurred: 1. The necessary documents were sent to the DNR for its review. No substantive comments have been received to date. However, the deadline for comments is September 291', so if additional feedback is received it will be provided at the meeting. 2. A letter notifying affected property owners of the hearing date was sent on September 90', 2003. This is enclosed for your review. 3. Bids were solicited and received for the project. As the City Engineer's memo for item S.B. indicates, bids were higher than anticipated. Originally, it was estimated that the project would cost approximately $70,000. The bid indicates that the project cost will be approximately $98,700 (includes engineering expenses). As indicated in the letter sent to residents and at the Council's previous Work Session, the approach to financing project will be slightly different. Instead of adopting a uniform assessment of all properties, it will be necessary to levy taxes to each property within the Karth Lake Improvement District. The estimated impact to specific properties is outlined on Enclosure #3: Karth Lake Pumping Project Tax Analysis. To recover expenses associated with the