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Pro_i ect Timeline <br />If both the City and Inland approve the special assessment waiver, the following steps will occur: <br />1. The City wi11 issue a request for quotes for engineering services to prepare plans and <br />specifications for the project. <br />2. The selected engineer will prepare the plans and speci� cations. <br />3. If the plans and speci�cations are approved by Inland and the City, the City Council <br />can authorize advertising for bids. <br />4. Once the bids are received, the City and Inland will review the bids. <br />5. If both the City and Inland accept the bid prices, the City can award the contract. <br />6e Upon completion of the project, Inland will reimburse the City for one half the <br />proj ect cost. If Inland chooses to have the cost specially assessed, the special <br />assessment would be repaid over three years. The proposed interest rate will be <br />provided at the meeting. In past Pavement Management Program (PMP) proj ects, the <br />interest rate was set at two percentage points above the City's rate of return or two <br />percentage points above the prime rate. <br />Attachments <br />• Map of the Proposed Lexington Avenue Trail (Railroad tracks to Grey Fox Road) <br />• Proposed Special Assessment Waiver of Rights <br />City of A�den Hills <br />City Council Meeting for June 14, 2010 <br />IlAhdocsllahlAHdatalPlanninglCommunaty DevelopmentlLexington Avenue Sidewalk1061410 - CC11Temo - Lexington Avenue Sidewalk.doc <br />Page 2 of 2 <br />