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URANIUM AND MCKINLEY STREET IMPROVEMENTS <br /> By: Steven J. Jankowski, City Engineer <br /> <br />CASE# <br /> <br />Background: <br /> <br />The City entered into a development agreement with Dennis Sharp which committed the City to the <br />installation of a pdrtion of Uranium Street N.W. in 1995 to service his incubator business facility <br />south of County Road #116. In addition, we will shortly close on the purchase of 39 acres of <br />property from M~arv Eggum which is also located in the same vicinity. The construction of a <br />segment of McKinley Street will provide access making the property more marketable for industrial <br />and commercial d,evelopment. It is anticipated that both segments of street would be constructed <br />under a single con(tact, and that the project would be undertaken by the engineering department as <br />a 1995 project. <br /> <br />It had been anticipgted in the adopted 1995-2000 Capital Improvement Pro.am that the Uranium <br />Street project would be financed with special assessments with the remainder by tax increments. <br /> <br />Further, we have a 1994 Tax Increment allocation of $50,000 toward the McKinley acquisition <br />which was not used due to availability of the 1991 proposed construction fund. The TIF cash <br />flows encumbered [this funding source which can now be used for the paving project, <br /> <br />Given this, we suggest proceeding with a feasibility study which allows for the option of assessing <br />benefitting property for a small portion of project costs. Upon completion of the study, we expect <br />to have a recommendation for which of the two options to pursue. At this time we request the <br />direction to condu{t the study to allow the connection of Uranium Street to McKinley Street as a <br />phased project [approximately 500 feet of McKinley and 1,500 feet of Uranium Street in the first <br />phase]. <br /> <br />Committee ActiOn: <br /> <br />Recommend to Council that a feasibility study be prepared for the construction of segments of <br />Uranium and McKinley Streets in section 35. <br /> <br />Reviewed by: <br /> <br />City Administrator Ryan Schroeder <br />City Engineer Stev~ Jankowski <br />Finance Officer JesSie Hart <br /> <br />R&B: 12/113/94 <br /> <br />// <br /> <br /> <br />