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<br />projects every three years. The City undertook the first phase of street reconstruction in 2015 <br />with the improvement of streets in the Shenandoah neighborhood. <br /> <br />The next round of improvements are tentatively scheduled for 2024. Staff is in the process of <br />preparing the 2024 – 2028 5 Year Street Reconstruction plan for consideration by the Council. <br />As noted previously, Street Reconstruction Bonds are the primary funding source for these <br />improvements. Under State law, street reconstruction bonds can be issued without election <br />provided the following requirements are met: <br /> <br />a) The City must prepare a 5 year street reconstruction plan <br />b) The City must hold a public hearing <br />c) The City Council must approve the plan by unanimous vote. <br />d) A 30-day period must elapse during which time a petition may be submitted <br />requesting an election. The petition must be signed by voters equal to 5% of the <br />votes cast in the last municipal general election. <br />e) If no petition is received the city may issue bonds without election. <br /> <br />City Charter requirements are not applicable, provided no special assessments are proposed for <br />the street reconstruction improvements under the street reconstruction project. However, as <br />noted, the plan is subject to a reverse referendum. <br /> <br />At this time staff is proposing consideration of a reconstruction plan schedule that includes <br />completing the following projects: <br /> <br />Phase Streets Estimated Cost <br />2024 81st St, Elbe St., Danube St. and Red Maple <br />Lane. Diane Street, Evergreen Trail (thin mat overlays) <br />4,550,000 <br />2027 Lakeview (Elm to Glenview), Fairmont and Gladstone 4,500,000 <br /> <br />This represents a slight change from the 2024 project included in the last plan. Due to increasing <br />costs, Evergreen Trail and Diane Street are proposed for thin mat overlays instead of full <br />reconstruction at this time. <br /> <br />The plan scope may be reduced to adjust for increasing expenditures. Staff will work with the <br />City’s financial consultant, Baker Tilly, and bond counsel, Kennedy & Graven, to review debt <br />schedules and prepare the 5 Year Street Reconstruction for City Council consideration and <br />public hearing. <br /> <br />Requested Council Direction <br /> <br />Staff is requesting direction to proceed with preparation of the 5 Year Street Reconstruction <br />Plan. <br /> <br />Attachments <br /> <br />1. Draft - 5 year Street Reconstruction Plan Map