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I I I ~ Council Meeting Minutes October 9, 1990 Page 5 Council Business. continued In August 1990, the residents petitioned the City to contribute 25% towards the project. The request is consistent with the recently adopted Lake Restoration policy with one minor exception. The Lake Diane project has been paid for by using a special taxing district rather than a special assessment levy, as required by the policy. This requirement should be waived for the Lake Diane project, but not for other future projects. Lake Diane residents were notified of tonight's meeting, and there were no comments from the audience, Twenty five percent of $2,500 is $625, The recommended program for 1991 would require a City general tax levy of $625 and a special tax levy of $1,875 against the Lake Diane tax district. Motion by Larson, seconded by Brandt Rebelein, to WAIVE THE SPECIAL ASSESSMENT REQUIREMENT OF THE LAKE RESTORATION POLICY AND APPROVE A GENERAL TAX LEVY OF $625 FOR THE LAKE DIANE RESTORATION PROJECT FOR 1991 AND TO APPROVE A SPECIAL TAX LEVY OF $1,875 AGAINST THE LAKE DIANE TAXING DISTRICT FOR THE LAKE DIANE RESTORATION PROJECT FOR 1991. 5 Ayes - 0 Nayes, Motion Carried Council selected Saturday, April 1 3, 1 991 , as the date for the 1991 Fourteenth Annual Town Hall Meeting. Anne Norris, Community Development Specialist, presented an amendment to the purchase agreement for 875--5th NW (Joe Poshek)' The original agreement allows for the City to do soil tests before acquiring the property. After conducting the soil tests and removing the fuel tanks, some contamination was found. Terracon Environmental performed subsequent soil tests and recommends a completed remedial site investigation in order to determine the extend of the contamination, The investigation involves additional soil borings and placement of three monitoring wells on the property. Anticipated costs will be $14,000 and investigation will be completed within 6-8 weeks. Terracon feels the investigation will determine the extend of the contamination, remediation costs, and actions needed to make the site available for redevelopment. The original agreement required closing by October 10, however, the City prefers the investigation be completed before closing. Therefore, staff recommends an amendment to extend the closing date to December 15 and provide Poshek an additional two months interest. Council Business Lake Diane Restoration Project Report 90-216 Selection of Date for 1991 Town Hall Meeting Report 90-217 Amendments to Purchase Agreement for Joe's Service Report 90-218