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Phare: We do have discussion later on the agenda for the <br />downtown drainage project if it is approved we can <br />be under construction by the end of the month. The <br />first step will be to put an outlet to Coal Creek <br />so we can deal with the five year storm. Once the <br />outlet is in we would then start looking to move <br />into the downtown area through coming up Spruce <br />Street going north a block from Main down to <br />Walnut then west on Walnut a block or two. This <br />will pick up the excess water and put it into <br />underground pipes, this will help with the <br />flooding that occurs downtown. What we will do <br />once we get the major outfall in we will then <br />start looking at design for the local drainage <br />system. This will allow us to quadrant service <br />improvements, sidewalks, and streets. We will <br />also be able to work with local merchants to do <br />projects that they would like to see done. The <br />next major activity as far as the service <br />improvements and storm drainage projects will not <br />occur until 1992. <br />Sackett: Where does it show the interest on the bond <br />proceeds? <br />Brand: That is not in here. The financial status report <br />that you have been given just deals with things <br />after the payments on the bonds have been made. <br />Sackett: Did the downtown committee commit to a Special <br />Improvement District? <br />Franklin: Merchants have not committed to a Special <br />Improvement District. <br />Sackett: If we were to follow the committees recommendation <br />how much would it cost the average merchant per <br />year if they were to have a special improvement <br />district? <br />Franklin: When we ran the $200,000 against properties an <br />average 7000 square foot lot would run an owner <br />around $3000.00 over a 10 year period. <br />Sackett: If we had the 5200,000 could the drainage, streets <br />and landscaping be accomplished? <br />Phare: The project was never to be accomplished in a one <br />year phase, but over a five year program. <br />Franklin: Over the past several years there have been some <br />recurring items of interest that have come up in <br />some of the group meetings that we have had. One <br />item that has been of interest and concern for <br />many years is the parking lots and making sure <br />5 <br />