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Page <br /> Twin Lake pond <br /> 12/13/90 <br /> polio objectives& The regional pond is a necessary public improvement <br /> �# � areas The project <br /> to facilitate the redevelopment of the Twin Lakes a F � <br /> will be built in accordance with normal public improvement statutory <br /> proceedings: It is expected that the project will be partially assessed <br /> u F supplemental financing provided <br /> under the city's assessment policy and supp � � <br /> through other sources discussed later. Therefore, the project must <br /> follow public improvement statutes* city policies were used for <br /> selection of the consulting firm for this project from our pool. <br /> Financial implications: OSM has provided a proposal for the work, a <br /> copy of which is attached. The estimated cost for development of the <br /> feasibility study is $21,500. Additional fees will be necessary if the <br /> reject proceeds beyond the public hearing stage for completion of plans <br /> and specifications and construction services during the actual <br /> construction of the project. <br /> Wy Financing for the feasibility study will come from the city's <br /> construction fund and stormwater utility fund, If the project proceeds, <br /> supplemental financing for the project will come from tax increment <br /> funds for the Twin Lakes area, special assessments, and available stout <br /> utility funding. <br /> schedule* If the council authorizes the preparation of a feasibility <br /> report for the project, the report will be completed in late spring of <br /> 19940 It is necessary to wait this length of time to allow water <br /> quality sampling to be done in the spring as noted in the proposal. It <br /> is expected that the report can be completed by June of 1994. It would <br /> then be necessary to have a public hearing for the project to determine <br /> its economic feasibility and public acceptance, Following a public <br /> hearin g, plans could be completed for the project and, hopefully, bids <br /> taken in the fall of 1994 <br /> Staff recommendation: In order to move ahead with the further <br /> redevelopment of the Twin Lakes area, it is necessary to begin the <br /> design of the regional ponding system. Staff recommends the Council <br /> g report b the consulting <br /> authorize the preparation of a feasibility rep g <br /> engineering firm of OSM. <br /> RBCOMMEMDED COUNCIL ACT I oM <br /> Cit y Council adopt resolution authorizing preparation of feasibility <br /> report for City Project 94-05F Twin Lakes area regional ponding <br /> pi s as outlined in a proposal dated <br /> facility by o� consulting engineers p p <br /> ovexnbe r 19, 1993* <br />