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The work being proposed is consistent with the mission of the EDA by helping facilitate and encourage <br />quality development. <br />Notification: <br />N/A <br />Ob servations/Alternatives: <br />Financing options for needed improvements in the COR will become more limited after November <br />2023. According to the CIP, Zeolite Street is planned to be reconstructed in 2026 and to be funded by TIF <br />District 2 but development pressure for Parcel 46 could likely move the need for reconstruction <br />forward. Some costs, such as the excavation of the Waterfront basin to obtain fill for Parcel 46 is a TIF <br />eligible expense and would need to occur before November 2023 to be included in the TIF 14 <br />budget. Completion of the attached proposals is needed to determine the feasibility of projects and to identify <br />costs so the projects can coordinated and be budgeted efficiently. <br />Alternatives: <br />1) Recommendation to City Council to authorize the Wetland and COR Infrastructure proposals utilizing TIF <br />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. It is likely that different facets of this project would be handled by different funding <br />sources. Potential funding sources include: <br />• TIF <br />• Sewer and/or Water Fund <br />• Park Dedication / Trust Fund, <br />• PIR <br />• EDA <br />• Wetland bank <br />Recommendation: <br />N/A <br />Action: <br />Motion to recommend to City Council to authorize the Wetland and COR Infrastructure proposals utilizing <br />TIF District (2,14) funds. <br />