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I <br /> <br />TRANSFER OF FUNDS FROM STORM WATER UTILITY TO STORM WATER <br />MANAGEMENT FUND <br /> By: Diana Lund, Finance Officer <br /> <br />Background: <br /> <br />Included in the 2000 Capital Improvement Program was the storm water improvement <br />project entitled 'Mississippi River Storm Water Subdrainage District No. 1'. This project <br />was to be funded from the levying of affected property owners and $108,100 from the <br />Storm Water Utility Fund. The justification for this $108,100 was due to the installation <br />of an overflow pipe for Business Park 95 as well as for the District. The Storm Water <br />Utility Fund was created to fund projects pertaining to the maintenance and correction of <br />drainage problems with the City's current storm water system. <br /> <br />It has been requested that the $108,100 should be funded from the Storm Water <br />Management Fund. The Storm Water Management Fund was created for the purpose of <br />funding projects that would encourage new development and decrease the amount of <br />area needed for ponding. <br /> <br />Although there was a significant drainage problem prior to the Zitzloff development, the <br />problem was exacerbated by development and does provide benefit in the form of an <br />overflow for Business Park 95. <br /> <br />Staff Recommendation: <br /> <br />Staff is recommending that 50% of the $108,100, or $54,050, be funded from the Storm <br />Water Management Fund and 50% from the Storm Water Utility Fund for the Mississippi <br />River Storm Water Subdrainage District No. 1 project. <br /> <br />Committee Action: <br /> <br />Motion to recommend Council authorize the Storm Water Management Fund and the <br />Storm Water Utility Fund to contribute $54,050 each to the Mississippi River Storm <br />Water Subdrainage District No. 1 project. <br /> <br />Reviewed By: <br /> <br />City Administrator <br />City Engineer <br /> <br />FC: 09-11-01 <br /> <br /> <br />