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<br />I~ ',') <br />i( <br /> <br />TUESDAY <br /> <br />JULY 8, 1980 <br /> <br />project spoke of a 1,000,000 gallon tank, which was considered adequate, when coupled <br />with the new higher-rate plant. Our consultants still feel this is the case, and <br />we concur. Although a 2,000,000 gallon tank would be beneficial, it does not seem <br />expedient in view of overall project cost overruns. <br /> <br />As to the site, we concur with the Planning Commission's final recommendation. <br />Although more expensive, Site #3 is the only alternate site large enough to <br />accommodate additional storage in the future. Concerning the objections of adjacent <br />landowners to our use of Site #3, we maintain that the storage facility will not <br />be detrimental either physically or esthetically. <br /> <br />FINANCIAL SITUATION <br /> <br />The newly estimated total cost of the UDAG project is $4,036,000, assuming that <br />Council accepts all the recommendations herein. This revised total breaks down as <br />follows: <br /> <br />Element Revised Cost <br />A $ -0- <br />B 75,000 <br />C 30,000 <br />D 815,000 <br />E 2,087,000 <br />F 521,000 <br /> Total Construction Costs $ 3,528,000 <br />Legal & Administration Costs $ 36,000 <br />Engineering Costs 400,000 <br />Contingencies 72,000 <br /> GRAND TOTAL $ 4,036,000 <br /> <br />The UDAG grant contract will provide $3,090,000, leaving a local cash requirement <br />of $940,000. To understand how the City will meet this requirement, one must view <br />the program in a 2~ year time frame, beginning July I, 1979, and extending to December <br />31, 1981. <br /> <br />At July I, 1979, there were two unappropriated pots of money in the Water Fund from <br />which to draw for the purposes of this project, as follows: <br />