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ii. If determined that change is needed, <br />formulate /adopt new infrastructure financing <br />(special assessment/deferral) policy <br />iii. Acquire /review sample policies from other cities <br />iv. Formulate draft policy, review draft policy with <br />City Council <br />v. Hold public hearing /approve policy <br />b. Lead party: Finance Department Staff <br />Key Contributors: City Council <br />Community Development <br />Springsted Inc. <br />Public Services <br />c. Funding Sources: General Fund /Area & Unit Fund <br />STATUS: Work on this objective is ongoing pending Strategic Planning <br />process scheduled to begin February, 2009 <br />(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 : Completed. <br />(4) Objective: Establish council policy on franchise fees for utility <br />providers (Second Quarter 2008) <br />a. Key Action Steps: <br />12 <br />• <br />• <br />• <br />