Agenda - Council - 11/23/2010 - Laserfiche WebLink

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CC Regular Session Date: 11/23/2010 By: Heidi Nelson Administrative Services Title: Authorize Resolution in Support of Transportation Economic Development Pilot Program Grant Applicaiton for Armstrong Bouelvard/TH 10 Interchange Improvement Background: The City of Ramsey and Anoka County are preparing an application for grant funding from the Transportation Economic Development Pilot Program for the TH 10 /Armstrong Boulevard Interchange The program, adminstered by DEED and MNDot, provides funding of up to $10 milllion for projects that will improve the statewide transportation network while promoting economic growth through the expansion of an existing business or development of new business. As Council will recall, preliminary design and environmental documentation are underway for the TH 10 /Armstrong Interchange, that work will be completed by first quarter of 2012. The completion of this work will identify an alignment for the interchange and allow for final design or design/build to proceed in a timely manner for this grant program if awarded. Notification: Notification not required for this action. Recommendation: Staff recommends that City Council authorize the resolution in support of the application for grant funding from the Transportation Economic Development Pilot Program for the TH10 /Armstrong Boulevard Interchange Council Action: Authorize the resolution in support of the application for grant funding from the Transportation Economic Development Pilot Program for the TH10 /Armstrong Boulevard Interchange Budgeted Y /N: N Budgeted Year: 2013 -2014 Fund: TIF Information Fiscal Impact Attachments Item #: 7. 7. Funding: Grant funding in the amount of $10 million is being sought from the Transportation Economic Development Program. Other funding sources must be identified in the application; thus it is proposed that Anoka County and the City of Ramsey would commit to the balance of funding required for the project. The current cost estimate for the project is $37 million; resulting in a commitment of $13.5 million for Anoka County and for the City of Ramsey each. Anoka County and the City of Ramsey would work cooperatively to seek other funding sources if the grant were awarded to this project. With the award of this type of a grant, the assembly of other funding sources becomes very feasible from other state and federal sources.