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Notification: <br />N/A <br />Observations/Alternatives: <br />Financing options for improvements in the COR will become more limited after November 2023. According to <br />the CIP, Zeolite Street is planned to be reconstructed in 2026 and to be funded by TIF District 2 but development <br />pressure for Parcel 46 could likely move the need for reconstruction forward. Some costs, such as the excavation <br />of the Waterfront basin to obtain fill for Parcel 46 is a TIF eligible expense and would need to occur before <br />November 2023 to be included in the TIF 14 budget. Completion of the attached proposals is needed to <br />determine the feasibility of projects and to identify costs so the projects can coordinated and be <br />budgeted efficiently. <br />Alternatives: <br />1) Recommendation to City Council to authorize the Wetland and COR Infrastructure proposals utilizing <br />TIF District (2,14) funds. <br />2) Recommendation to City Council to authorize the Wetland and COR Infrastructure proposals utilizing <br />EDA funds. <br />3) Something else. <br />Funding Source: <br />To be determined. The proposals being consider by the City Council are TIF eligible expenses. It is likely that <br />different facets of this project would be handled by different funding sources. Potential funding sources include: <br />• TIF 14, TIF 2 <br />• Sewer and/or Water Fund <br />• Park Dedication / Trust Fund, <br />• PIR <br />• EDA <br />• Wetland bank <br />Recommendation: <br />The EDA met on October 13th and unanimously approved a recommendation to the City Council to authorize the <br />Bolton and Menk Wetland and COR Infrastructure proposals utilizing TIF District (2, 14) funds. <br />Action: <br />Motion to Adopt Resolution #22-241 Authorizing COR Public Infrastructure and Wetland Analysis <br />ACTION - Resolution #22-241 <br />ACTION - COR Infrastructure Analysis <br />ACTION - COR Wetland Analysis <br />REFERNCE - Draft EDA Minutes 10-13-22 <br />Inbox <br />Sean Sullivan (Originator) <br />Brian Hagen <br />Form Started By: Sean Sullivan <br />Final Approval Date: 10/20/2022 <br />Attachments <br />Form Review <br />Reviewed By <br />Sean Sullivan <br />Brian Hagen <br />Date <br />10/18/2022 09:45 AM <br />10/20/2022 10:04 AM <br />Started On: 10/14/2022 09:03 AM <br />