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MAJOR INITIATIVES <br />In 1996, a new million gallon water tower is being constructed on the east side of the City to <br />serve the Clearwater Creek Development Center and new residential areas to the south. The <br />City is working with Anoka County on a joint effort to realign Otter Lake Road through the <br />business park, which will open up the park for additional commercial and industrial <br />development. <br />Commercial development in Lino Lakes has been the focus of a city- initiated development <br />called the "Village" on I -35W and Lake Drive. This innovative mixed -use town center will <br />include professional buildings, civic facilities, commercial development and a mix of housing <br />types. The goal of the City is to base this development on many principles of the Metropolitan <br />Council's "livable communities" concept. <br />The first phase of the "Village" will include a new City police station, a bank, a Fairview <br />Health Services clinic, and potentially a Centennial School District Early Childhood Education <br />Center. <br />Extending municipal utilities is a top priority, as the State of Minnesota is requiring stricter <br />laws for well and septic systems. The City adopted an ordinance to require all septic systems <br />to be inspected and pumped every two years to account for all systems within the City. The <br />Engineering Department is working diligently on planning for future utility extensions to <br />promote the growth of both residential and commercial development. <br />A five year Capital Improvement Plan began in late fall, with completion expected in early <br />1997. This plan has not been updated since 1990. An annual update is expected in the future. <br />FINANCIAL INFORMATION <br />The City's policy is to invest all available moneys at competitive rates in accordance with <br />Minnesota law. Investments are made by minimizing credit and market risks while maintaining <br />a competitive yield. Funds are invested in certificates of deposit, commercial paper and U.S. <br />government agencies. Cash is pooled in one account to provide maximum return. <br />10 <br />