Laserfiche WebLink
NCDA Agenda Item #2e <br />RESOLUTION NO. <br />NORTHSTAR CORRIDOR DEVELOPMENT AUTHORITY <br />RECOMMENDING FUNDING PARTNER COMMITMENTS TO <br />CONTRIBUTE TO THE LOCAL SHARE OF THE CAPITAL COSTS <br />OF PHASE II OF NORTHSTAR COMMUTER RAIL PROJECT. <br />WHEREAS, the Northstar Corridor Development Authority ( "NCDA ") was established in <br />May of 1997 by joint powers agreement, pursuant to Minn. Stat. § 471.59, among the counties, <br />county regional railroad authority, cities and towns along the Northstar Corridor from Minneapolis <br />to the St. Cloud area; and <br />WHEREAS, the NCDA determined to undertake a project consisting of the development <br />of commuter rail along the Northstar Corridor between Minneapolis and St. Cloud; and <br />WHEREAS, in 2007, the State of Minnesota entered into a Full Funding Grant Agreement <br />with the Federal Transit Administration for construction of the Northstar Corridor Rail Project <br />between Minneapolis and Big Lake ( "Phase I ") for a total capital cost not to exceed of <br />$317,382,000; and <br />WHEREAS, Regional Railroad Authorities of Anoka, Hennepin and Sherburne Counties <br />( "Phase I Funding Partners ") agreed to contribute 17% of the total capital costs of Phase I, <br />allocated as follows: Anoka County Regional Railroad Authority (68.3 %), Hennepin County <br />Regional Railroad Authority (15.6 %), and Sherburne County Regional Railroad Authority (16.1 %); <br />and <br />WHEREAS, the NCDA has resolved to complete the Northstar Corridor Commuter Rail <br />Project to St. Cloud ( "Phase II "); and <br />WHEREAS, the NCDA will request federal funding for 50% and state funding for 33% of <br />the capital costs of Phase II; and <br />WHEREAS, in order to secure the necessary funding to complete Phase II, the NCDA <br />recommends that the Regional Railroad Authorities of Anoka, Hennepin Sherburne and Stearns <br />