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Council Meeting Minutes for November 20, 2023 <br />Page 3 of 8 <br />Approve Letter of Support for Otter Lake Road Project <br />The City of Lino Lakes had retained WSB to complete the final plans for Phase 1 of the Otter <br />Lake Road project. This would extend from its current terminus to its intersection with 24th <br />Avenue (Elmcrest) north of Heritage Parkway. The City of Lino Lakes was currently seeking <br />funding through the Local Road Improvement Program (LRIP) for the project and had requested <br />the City of Hugo provide a letter of support for the application. Adoption of the Consent Agenda <br />approved the letter of support for the Otter Lake Road Extension Project. <br />Approve Reduction in Letter of Credit for The Shores of Oneka Lake 2nd <br />The Shores of Oneka Lake 2nd Addition had substantial work completed to date and M/I Homes <br />of Minneapolis/St. Paul, LLC. had requested a reduction in the letter of credit. The current letter <br />of credit for The Shores of Oneka Lake 2nd Addition was in the amount of $672,515. Adoption of <br />the Consent Agenda approved the reduction in the letter of credit to $147,644 based on the value <br />of work remaining to be completed. <br />Approve Reduction in Letter of Credit for Rice Lake Reserve 3rd Addition <br />The Rice Lake Reserve 3rd 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 3rd Addition was in the amount of $1,583,045. Adoption of the <br />Consent Agenda approved the reduction in the letter of credit to $170,532 based on the value of <br />work remaining to be completed. <br />Approve Release of Cash Escrow for Hugo Gardens <br />The Hugo Gardens Project was complete and the punch-list had been completed and accepted by <br />City staff. Hugo Garden Apartments, LLC. had requested the release in the Cash Escrow and <br />final acceptance of the project. Adoption of the Consent Agenda approved the release in cash <br />escrow for the Hugo Gardens (Jack Pine Place) Apartments and accept the improvements. <br />Approve Release of the Letter of Credit and Cash Escrow for Oneka Place 3rd, 4th , and 5th <br />Additions <br />CPDC-Pratt-Oakwood, Limited Liability Partnership had requested the City release their letter of <br />credit and cash escrow for the Oneka Place 3rd, 4th, and 5th Additions. The one-year warranty <br />period had expired. Adoption of the Consent Agenda approved the release of the letter of credit <br />and cash escrow being held for the constructed improvements for Oneka Place 3rd, 4th, and 5th <br />Additions. <br />Public Hearing on 125th Street and Dellwood Ridge Neighborhood Street Improvement <br />Project <br />On July 10, 2023, City Council authorized the preparation of a feasibility study for 2024 125th <br />Street and Dellwood Ridge Neighborhood Street Improvement Project. City Council accepted <br />the competed study at the October 16, 2023, City Council meeting and called for a Public <br />Hearing to be held on November 20, 2023.