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O AGENDA ITEM 6H <br />• <br />• <br />STAFF ORIGINATOR: John Powell, City Engineer <br />COUNCIL MEETING DATE: January 10, 2000 <br />TOPIC: Resolution No. 00 - 07, Purchasing Property for Utility and <br />Drainage Purposes, Otter Lake Road Realignment Project <br />VOTE REQUIRED: Simple Majority — 3/4 <br />BACKGROUND: <br />The planned construction of Otter Lake Road requires the acquisition of property <br />for the utilities and drainage ponds. The City has reached a settlement with <br />Industrial Equities for the acquisition of property for utility and drainage purposes <br />over their property. <br />The City is acquiring 9.85 acres of land for the utilities, regional ponding, and <br />wetland mitigation areas. The ponding areas are part of the Clearwater Creek <br />greenway. The planned drainage ponds will provide regional detention ponding <br />and wetland mitigation to the properties within the Clearwater Creek light <br />industrial area. The average cost of the property is $1.096 per square foot or a <br />total of $470,296.25. The purchase is to be funded through the Surface Water <br />Management Fund which will be reimbursed as the area is developed. <br />OPTIONS: <br />1. Return to staff for further review. <br />2. Approve Resolution 00 - 07 purchasing property for utility and drainage <br />purposes. <br />RECOMMENDATION: <br />Staff recommends that Resolution 00 - 07 be approved. <br />