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REQUEST FOR COUNCIL ACTION DATE: 2/25/91 ITEM NO.: C -7 Department p oval: Manager Reviewed: Agenda Section: Hearings Item Description: Continued public improvement hearing, Terrace Drive construction, Fairview to Lincoln, City Project 91 -04 Background: As a result of a petition submitted by affected property owners, the council held a public improvement hearing to discuss construction of Terrace Drive from the present cul -de -sac east of Fairview Avenue to Lincoln Drive. The hearing was held on January 29, 1991, and continued to February 25, 1991. Prior to the hearing, the council asked staff to review alternates, provide detailed analysis of all feasible alternates, and make a final recommendation. In addition, council asked that a neighborhood meeting be held with affected property owners to discuss project financing and attempt to reach consensus among the property owners on the issues of roadway alignment and project financing. This meeting was held on February 21, 1991. The results of the meeting will be discussed with the council at the hearing. At the February 19, 1991, work session, staff presented three alternates for council discussion. The alternates are summarized in written correspondence provided by the project engineer, SEH. A copy is attached. The correspondence provides a discussion of the advantages and disadvantages of each alternate. Based on council comments, the council appeared to favor Alternate 2A which involves a 52 -foot cross - section with medians between Lincoln Drive and County Ditch 4 and a 44- foot cross - section with no median between County Ditch 4 and the existing cul -de -sac. Policy Objectives: The proposed construction of Terrace Drive is consistent with the Twin Lakes comprehensive plan for this area. A petition has been submitted by all affected property owners who would be assessed for roadway improvements. The project would be financed using assessments and Municipal State Aid (M.S.A.) funds in combination with other sources. M.S.A. funds and assessments would be allocated based on present policies. Financial Implications: As noted, the project would be financed using a combination of Municipal State Aid funds, special assessments, and other financing sources. Other sources would include Tax Increment Financing (T.I.F.) and utility and pathway funds. The financing plan for the project based on Alternate 2A with medians and landscaping would be as follows: