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FINANCING SUMMARY: <br />The construction costs for this project will be paid by the City's Area and Unit <br />Fund. As property owners in the project area connect to the utility system, the <br />connection charges will reimburse the Area and Unit Fund. Staff is aware of <br />three property owners that will connect to the utilities upon completion of the <br />project. <br />PROJECT SCHEDULE: <br />The proposed schedule for the project is as follows: <br />Council Awards Bid March 23, 1998 <br />Construction Begins April 13, 1998 <br />Substantial Completion May 31, 1998 <br />OPTIONS: <br />1. Return to staff for further review. <br />2. Adopt Resolution Number 98-40, accepting bids and awarding a construction <br />contract to S. R. Weidema, Inc., Lilac Street Utility Improvements. <br />RECOMMENDATION: <br />Staff recommends that Resolution Number 98-40 be adopted. <br />