Agenda - Economic Development Authority - 10/13/2022

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Notification: N/A Observations/Alternatives: Financing options for needed improvements in the COR will become more limited after November 2023. According to the CIP,Zeolite Street is planned to be reconstructed in 2026 and to be funded by TIF District 2 but development pressure for Parcel 46 could likely move the need for reconstruction forward. Some costs, such as the excavation of the Waterfront basin to obtain fill for Parcel 46 is a TIF eligible expense and would need to occur before November 2023 to be included in the TIF 14 budget. Completion of the attached proposals is needed to determine the feasibility of projects and to identify costs so the projects can coordinated and be budgeted efficiently. Alternatives: 1) Recommendation to City Council to authorize the Wetland and COR Infrastructure proposals utilizing TIF District (2,14) funds. 2) Recommendation to City Council to authorize the Wetland and COR Infrastructure proposals utilizing EDA funds. 3) Something else. Funding Source: To be determined. It is likely that different facets of this project would be handled by different funding sources. Potential funding sources include: .TIF . Sewer and/or Water Fund .Park Dedication/Trust Fund, .PIR .EDA .Wetland bank Recommendation: N/A Action: Motion to recommend to City Council to authorize the Wetland and COR Infrastructure proposals utilizing TIF District (2,14) funds. Attachments Site Location Map ACTION- COR Infrastructure Analysis ACTION- COR Wetland Analysis Form Review Inbox Reviewed By Date Sean Sullivan(Originator) Sean Sullivan 09/29/2022 04:22 PM Bruce Westby Bruce Westby 09/30/2022 09:22 AM Sean Sullivan(Originator) Sean Sullivan 09/30/2022 10:03 AM Brian Hagen Brian Hagen 10/06/2022 02:40 PM Form Started By:Sean Sullivan Started On:09/29/2022 02:46 PM Final Approval Date: 10/06/2022