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The work being proposed is consistent with the mission of the EDA by helping facilitate and to encourage <br />quality development. <br />Notification: <br />N/A <br />Ob servations/Alternatives: <br />Financing options for improvements in the COR will become more limited after November 2023. According <br />to the CIP, Zeolite Street is planned to be reconstructed in 2026 and to be funded by TIF District 2 but <br />development pressure for Parcel 46 could likely move the need for reconstruction forward. Some costs, such <br />as the excavation of the Waterfront basin to obtain fill for Parcel 46 is a TIF eligible expense and would need <br />to occur before November 2023 to be included in the TIF 14 budget. Completion of the attached proposals is <br />needed to 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 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. The proposals being consider by the City Council are TIF eligible expenses. It is likely <br />that different facets of this project would be handled by different funding sources. Potential funding sources <br />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 <br />the 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 />