Laserfiche WebLink
City Council Minutes <br /> July 9, 2018 <br /> Page 6 of 10 <br /> ----------------------------- <br /> 9.2. Trailside Park Master Plan Proiect <br /> A. Phase I Cost Estimates & Financing <br /> Tim Houle explained the preliminary engineer's cost estimate spreadsheet <br /> for sanitary sewer, park related and roadway costs for East Sibley Street, <br /> North Front Street, Govemment Drive and Main Street with a total <br /> estimated cost of$1,054,550. <br /> Luke Sydow of SAS+Associates explained the cost estimates on the <br /> Phase I Master Plan Quantities & Budget Projection spreadsheet for the <br /> Trailside Park project including the earthwork and removals, pavements, , <br /> structures, landscaping, amenities and site work with a total estimated , <br /> cost of$2,598,060. ', <br /> (Council Member Akerson arrived at 7:22 p.m.) <br /> Jason Murray of David Drown Associates presented his recommendation ' <br /> letter and general obligation bond spreadsheets to illustrate the sale , <br /> structure for the general obligation bond with the Trailside Park and Street '� <br /> and Utility Improvements projects. Mr. Murray indicated the ', <br /> recommended size of bond is $3,500,000 and suggested utilizing tax ' <br /> abatement authority which would pledge property taxes towards payment ' <br /> of the bond. Mr. Murray stated the preliminary impact of the bond would , <br /> be approximately a 13% tax levy increase. Mr. Murray added that with the I <br /> maintenance facility and the proposed debt of approximately $3,500,000 '� <br /> the City would be looking at about a 10 point increase to the tax rate which <br /> is right around 57.5 right now. Upon hearing the timeline for bidding <br /> packages, Mr. Murray suggested the City consider utilizing tum back <br /> funds for the Street and Utility Improvements Project and then utilize the , <br /> tax abatement bond to coincide with the Trailside Park Improvement �,, <br /> Project. ', <br /> B. Communication Toolbox �I <br /> Tim Houle explained various forms of communication tools for public �, <br /> outreach on projects. Mr. Houle questioned if the Council would like to � <br /> pursue and invest in some level of communication, what form of '� <br /> communication would they like to use, and what is the budget for this ', <br /> communication. '� <br /> Mayor Adams indicated the City has a Communication Manager that could � <br /> be utilized. I <br />