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WS — Item 3 <br />WORK SESSION STAFF REPORT <br />Work Session Item 3 <br />Date: March 5, 2012 <br />To: City Council <br />From: Michael Grochala <br />Re: Otter Lake Road Extension <br />Background <br />The City Council authorized staff to retain the services of BRKW Appraisal Inc., to prepare a <br />special benefit report and right -of -way acquisition appraisals at the February 27, 2012 regular <br />meeting. BRKW is estimating approximately six weeks for completion of the special benefit <br />report. During the discussion the council suggested moving forward with preparation of plans <br />and specifications. <br />At this time staff is recommending completion of the above referenced BRKW work prior to <br />ordering the improvement plans. Estimated costs for preparation of plans and specifications are <br />$40,000 to $60,000. In addition to working with our engineers on a proposal, staff also needs to <br />evaluate both short term and permanent financing options before proceeding. <br />Requested Council Direction <br />Staff is requesting council direction regarding preferred action. <br />