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Hugo City Council Meeting Minutes for December 5, 2022 <br />Page 3 of 6 <br /> <br /> <br />Approve Letter of Support for the 1-35E/County Road J Improvement Project <br /> <br />Staff had received an email from Ramsey County discussing an upcoming improvement project for <br />the I-35E/CR J interchange. Scheduled for construction in 2025, the project would add interstate <br />ramps to the north side of the interchange and make improvements to CR J and Centerville Road. <br />Ramsey County asked whether the City would be interested in writing a letter of support for their <br />Corridors of Commerce grant request. Adoption of the Consent Agenda approved the letter of <br />support for the I-35E/CR J project. <br /> <br />Approve Release of the Letter of Credit for Victor Gardens North Village 7th Addition <br /> <br />Rich Kettler, the developer for Victor Gardens North Village 7th Addition, had requested the City <br />release the letter of credit being held for the Victor Gardens North Village 7th Addition. City staff <br />had inspected the work and recommended the release of the letter of credit. Adoption of the <br />Consent Agenda approved the release of the letter of credit being held for the constructed <br />improvements for the Victor Gardens North Village 7th Addition. <br /> <br />Approve Release of the Letter of Credit to The Excelsior Group for Adelaide Landing 1st, <br />2nd, 3rd and 4th Additions <br /> <br />The Excelsior Group had requested the City release their letter of credit for Adelaide Landing 1st, <br />2nd, 3rd and 4th Additions. City staff had inspected the work, and the warranty period had expired; <br />therefore, staff recommended the release of the letter of credit. Adoption of the Consent Agenda <br />approved the release of the letter of credit being held for the constructed improvements in <br />Adelaide Landing 1st, 2nd, 3rd and 4th Additions. <br /> <br />Approve Reduction in Letter of Credit for Rice Lake Reserve 2nd Addition <br /> <br />The Rice Lake Reserve 2nd Addition had substantial work completed to date and M/I Homes of <br />Minneapolis/St. Paul, LLC. had requested a reduction in the letter of credit. The current letter of <br />credit for the Rice Lake Reserve 2nd Addition was in the amount of $826,810. Staff had inspected <br />the work completed to date and recommended approval. Adoption of the Consent Agenda <br />approved the reduction in the letter of credit to $82,681 based on the value of work remaining to <br />be completed. <br /> <br />Approve Final Payment to Peterson Companies, Inc. for the CSAH 8 Storm Water Reuse <br />Project <br /> <br />The CSAH 8 Storm Water Reuse Project had been successfully completed. Staff had received all <br />the contract close-out documents for the project. The two-year warranty would begin upon <br />acceptance of the improvements. Adoption of the Consent Agenda approved the improvements <br />and final payment to Peterson Companies, Inc. in the amount of $17,771.18 <br /> <br />Public Hearing on 2023 City Budget and Tax Levy <br /> <br />State statutes required the City Council to hold a public hearing on the proposed City budget and <br />tax levy for the 2023 fiscal year. <br />