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(3) <br />Objective: Complete the utility rate study and present <br />recommendations to city council for review and approval (Second and <br />Third Quarter 2008) <br />a. Key Action Steps: <br />i. Review utility rate study results and proposals <br />with City Council <br />ii. Prepare public information materials <br />iii. Hold public hearing on proposed rate structures <br />iv. Implement new utility rate structures in 2009 <br />b. Lead party: <br />Key Contributors: <br />Finance Department Staff <br />City Council <br />Springsted, Inc. <br />Public Services <br />c. Funding Sources: Water /Sewer Funds <br />STATUS : Council has accepted the utility rate study prepared by Springsted. <br />Public information materials will be prepared and distributed and a public <br />hearing is expected for the 2 "d meeting in September. <br />(4) Objective: Establish council policy on franchise fees for utility <br />providers (Second Quarter 2008) <br />a. Key Action Steps: <br />i. Review existing utility franchise agreements, identify <br />actions needed to institute franchise fees <br />ii. Council decision on instituting franchise fees <br />iii. If franchise fees are to be extended to additional <br />utilities, agreement amendments and ordinances will <br />be prepared and approved <br />b. Lead Parties: Administration Department <br />Key Contributors: Finance Department <br />c. Funding Source: General Fund — Administration; <br />Finance (Staff Time) <br />STATUS : The Council has reviewed information regarding alternative fee <br />designs, reviewed proposed franchise agreements in June and July work <br />sessions which allow for franchise fees to be established <br />12 <br />