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e e e IV. THE TASK FORCE'S COST ESTIMATE Mr. Redhead said the format used to prepare the cost estimate was prepared by Garret Rosenthal of L-COG. Mr. Rosenthal's cost estimates were reviewed for reasonableness and costs were updated where appropriate on the real estate portion of the tax estimate. Mr. Rosenthal took tax lot maps and planned the most probable canal route which is designed to have a minimum impact on signifi- cant real estate, considered cost constraints and tried to be consistent with preliminary desiqn concepts. Based on that canal route, he assembled a list of parcels of land that would be involved. He began with the assessor's true cash value and reviewed that for reasonableness and adjusted it based on his exper- ience. Finally, those figures were rounded and totaled. $1 million on admini- strative costs was included. Mr. Redhead said the planning and design figures are based on Mr. Rosenthal's and they include items which would be necessary for the project. Starting with design criteria, these figures were based on gross evacuation, concrete, and place figures. Bridges were independently reviewed by people in the University of Oregon Architecture Department. The utility costs were estimated and updated based on utility agency information. Mr. Redhead reported the total estimated cost of construction is $22 million. He added the ongoing yearly costs are estimated at $300,000. V. POTENTIAL SOURCES OF REVENUE Mr. Zadoff said the current economic climate caused the project to begin with a handicap. However, he added, sources of funds were located outside the commun- ity. Several Federal acts will help in paying for the canal and Oregon Senate Bill 541.8340 is a logical source for funds. Mr. Zadoff added, as with the Flint, Michigan, Canal, two-thirds of the cost could be paid with funds from without the community, the other one-third from within the community. The functions of the Emerald Canal would meet the demand for necessary funds. Mr. Zadoff indicated that locally, Urban Renewal funds, bike, and park money might be used. He commented that locally generated funds should be explored further. VI. FLINT, MICHIGAN--A REPORT ON A COMPARABLE PROJECT Mr. Dietholm indicated that a final history of the Flint, Michigan, Waterways Project shows the city's share of the cost was 29 percent. Also included are a history of procedures and agreements between parties and a section on diffi- culties which were encountered. VII. EMERALD WATERWAY'S CITIZEN COMMITTEE, INC., OFFER OF CONTINUING ASSISTANCE Mr. Porter said EWCC would set up the Emerald Canal. and Lane County's seals on planning and zoning can be pay staff expenses if a joint committee is formed to He added that a letterhead with the City of Eugene's it can be used to tap outside funding sources. Then completed. MINUTES--Eugene City Council April 11, 1983 Page 3