Laserfiche WebLink
"When will the next step be taken if the airport were to <br />proceed and approximate cost?" <br /> <br />No additional work can be initiated on the airport without <br />Council direction. At this point of the process, the next <br />step would be to initiate land acquisition. From our <br />conversations with Mn/DOT earlier this year, Mn/DOT indicated <br />their interest in participating in land acquisition on a 1/3 <br />local, 2/3 state basis up to a one million dollar initial <br />acquisition project. This cost-would be fully eligible for <br />federal participation at a future date at a funding level of <br />90% federal, 10% local. Our latest conversation with FAA <br />indicated that they would not participate while landfill <br />operations are being conducted and that the earliest federal <br />funds available would be 1992. <br /> <br />If the Council determined to initiate acquisition, the City <br />would need to enter into an agency agreement for cost sharing <br />and appropriate its share of the funds ($333,000). Mn/DOT <br />would then need to approve the agreement and allocate its <br />share of funds. This process normally would take 30-45 days <br />dependent on funding availability. The ~quisition process <br />itself typically may take 12 to 18 months~=' <br /> <br />"At what point do we get financial assistance?" <br /> <br />Once an agency agreement is entered into, financial assistance <br />would be available immediately. On land acquisition, the <br />reimbursement float period is usually kept to a 10 day to.30 <br />day period. <br /> <br />From a longer term perspective, FAA's participation would <br />likely occur faster if Mn/DOT has funds invested for which <br />they will want to be reimbursed. Thus, a 1992, 1993 timeframe <br />for FAA participation is entirely conceivable and would <br />coincide with landfill closure. <br /> <br />If the total project cost for acquisition and Phase I <br />development is approximately $4.5 million, the City's share <br />will be a minimum 10% or $450,000. The entire initial <br />acquisition costs of $330,000 under a state/local project <br />could be applied against the city's 10% share. <br /> <br />"Once we take any aid, is there no backing out?" <br /> <br />In accepting aid for acquisition and development, the City <br />will need to assure the participating agencies that the <br />facility would be available for a 20 year period. This is the <br />approximate period of life expectancy for most facility <br />improvements. <br /> <br />2 <br /> <br /> <br />