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ARDEN HILLS CITY COUNCIL—JUNE 14, 2010 12 8B. Elmer L. Andersen Memorial Frail Signage Approval(continued) MOTION: Councilmember McClung, moved and Councilmember Grant seconded a motion to Authorize Staff to contract with Serillraphics Sian Systems, Ine. in the amount of $19,645 for the production and installation of the Elmer L. Andersen Memorial Signape as presented. Councilmember Grant stated the PTRC has been very active in the signage request along with the Andersen family. Mayor Harpstead thanked all those involved stating the sign would honor Mr. Andersen. Councilmember McClung indicated he was very pleased with the final design of the signs and he was looking forward to seeing the signs installed. The motion carried unanimously (4-0). C. Lexington Avenue Sidewalk Project: Special Assessment Waiver Approval Parks and Recreation Manager Olson stated the 2010 CIP proposed to construct a 960 foot long, eight foot wide trail along the west side of Lexington Avenue from the Canadian Pacific Railroad crossing to the traffic signal at Grey Fox Road. When previously discussed, the Council directed Staff to contact the adjacent property owners to determine if they would be willing to fund half the cost of the project estimated at $63,000. The adjacent property, Shannon Square Shopper and Shannon Square Cub Foods is owned by Inland. After their preliminary internal review, they have agreed to fund up to half the cost of the project, with the other half funded by the City. Inland has requested the sidewalk be concrete instead of bituminous due to aesthetics being more compatible with the business area. Inland has requested to have their portion of the cost specially assessed to both properties. With this option, the City requested that Inland sign a waiver of their right to appeal the special assessments, which has been agreed upon. Staff recommends the Council approve the special assessment waiver with Inland to install a sidewalk along Lexington Avenue. Councilmember McClung asked if the interest rate should be set within the agreement. Parks and Recreation Manager Olson stated staff was not sure of the rates at this time and requested the Council state within the motion the rate shall be set 1-2% above the City's rate of return portfolio or as set within the Assessment Hearing. Councilmember Holden questioned if the previous estimate was for concrete or bituminous. She also asked if engineering expenses would be included in the amount being assessed. Parks and Recreation Manager Olson indicated the estimate was for concrete and included construction but was not positive that engineering was factored into the $63,000 figure. The unknown at this time was the plans and specs as the grade of the trail was a concern.