Agenda - Council - 04/24/2012 - Laserfiche WebLink

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Transportation Economic Development Program (TED): Page 4 Page 1 of 2 0ipartmuntof POSITIVELY plkyniorit and Econonil 0eve[oprnont Transportation Economic Development Program TABLE OF CUNT Overview Eligibility Application Process 2011 Funding Awards 2011 Funding Awards Eleven highway improvement and infrastructure projects in Minnesota received preliminary approval for nearly $33 million in funding. Preliminary funding was designated for projects in Aitkin County, Bloomington, Hennepin County, Marshall, Perham, St, Charles, St. Cloud, Stewartville, Two Harbors, Worthington and Zumbrota. The funding is contingent on communities providing evidence that they can complete the projects, including documenting that they have other sources of funding and can meet environmental requirements and other planning standards. The following projects received preliminary funding approval: Aitkin County — $138,750 The funding will upgrade one mile of Highway 5 so that it can handle vehicles with a load capacity of 10 tons per axle. The improvement will enable American Peat Technology to increase production. Total project cost: $555,000. City of Bloomington — $4.2 million The city plans to improve the interchange at Interstate 494 and 34th Avenue, which will increase traffic capacity and help reduce accidents. The project also will improve access for local corporate offices, the Minneapolis -St. Paul International Airport and the Mall of America. Total project cost: $6 million. Hennepin County — $9.4 million Officials are planning a new entrance ramp to northbound Interstate 35W at Fourth Street South, as well as an auxiliary lane on northbound 35W from University Avenue SE to Stinson Boulevard. The project will reduce congestion in an area with a high concentration of jobs. It will also create a more direct route from downtown Minneapolis to northbound 35W. Total project cost: $13.5 million. City of Marshall'— $575,000 The city plans to install turning lanes and a bypass lane on Highway 68 near the proposed Lake Road Industrial Park. Officials are negotiating with businesses that may locate in the park, creating about 100 jobs. Total project cost: $822,500. City of Perham — $4 million The funding will pay for construction of an interchange for an existing overpass at Highways 10 and 34. The project will provide better access to Barrel 0' Fun, Tuffy's Pet Foods, Kenny's Candies and a new hospital. The project will result in the creation of 240 jobs. Total project cost: $6.7 million. City of St. Charles — $570,000 A new 20-acre industrial park, adjacent to Interstate 90, off Highway 74, is planned. Funding will pay for roads, turning lanes and utilities in the park. Active Tool and Die and Robotics Redefined/Excel Manufacturing have expressed interest in moving to the park and adding a total of 45 jobs. The project will help the community recover from the loss of its largest employer, North Star Foods, to a fire in 2009. Total project cost: $2.6 million. http : //www. p o s itively minne s ota. c omlGovernment/F inanci al A s s i stanc e/B usi ne s s__D eve l o ... 4/ 12/2 012