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Regular City Council Meeting Monday, July 21, 2014 Page 21 Roll Call Ayes: McGehee; Willmus: Laliberte; Etten; Roe. Nays: None. d. Approve the FINAL PLAT of the Property at 301-303 S Owasso Boulevard into Five Residential Lots Mr. Lloyd briefly reviewed this request, as detailed in the RCA. Etten moved, Laliberte seconded, adoption of Resolution No. 11167 (Attachment B) entitled, "A Resolution Approving the FINAL PLAT of Owasso Preserve (PF14-016);" including acceptance of a park dedication cash in lieu of land in the amount of$7,000 to be made by the applicant before the signed final plat is released to Ramsey County for recording. Councilmember Willmus thanked the developer for reducing the lot density for this project. Councilmember McGehee thanked the developer for information provided previ- ously related to garage setbacks. Roll Call Ayes: McGehee; Willmus: Laliberte; Etten; Roe. Nays: None. 14. Business Items—Presentations/Discussions a. Presentation on the Twin Lakes Area Benefit Analysis and Cost Allocation City Engineer Marc Culver presented information outlining the methodology be- ing used to define benefit and fund improvements in the Twin Lakes Redevelop- ment Area. Through displayed maps, and through presentation materials, Mr. Culver identi- fied transportation improvements in place or still needed to support proposed de- velopment, as originally identified in the Alternative Urban Areawide Review (AUAR) in 2001, and updated in 2007, but subsequently allowed to expire. Mr. Culver identified three key improvement areas identified for near-term con- struction; and advised that a feasibility study was proposed identifying those costs and benefits for area properties. Those proposed improvement areas are identified as follows. • I-35W Northbound at Cleveland Avenue Interchange Mr. Culver addressed federal funds awarded to-date to cover up to $1.2 mil- lion (80%) of the $1.5 million total costs; and anticipated construction to begin in 2015, contingent upon approval of the feasibility study by the City Council at their August 11, 2014 meeting.