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!Equipment Revolving Fund II$1,056,450 <br />TIF #2 II$500,000 <br />Stormwater Utility Fund II$255,484 <br />Water Utility Fund II$238,066 <br />EDA (Nordvik acquisition) II$600,000 <br />Excess Rail Funding II$500,000 <br />TOTAL II $5,350,000 <br />A revised accounting, based upon the most current estimates, is as follows: <br />Anoka County $1,700,000 <br />LRIP Grant j$500,000 <br />Equipment Revolving Fund I$1,056,450 <br />TIF #2 I$500,000 <br />Stormwater Utility Fund I$230,500 <br />Water Utility Fund I$210,000 <br />Sanitary Sewer Utility Fund I $19,000 <br />EDA (Nordvik acquisition) 1$600,000 <br />Excess Rail Funding I$500,000 <br />Streetlight Utility I $112,000 <br />COR land sale proceeds * I $500,000 <br />TOTAL I $5,927,950 <br />As can be seen above there is approximately $289,000 that is unaccounted for with this project. This overage is <br />primarily the costs for streetlighting and construction administration/testing. Staff intends to make adjustments for <br />a portion of the soft costs (engineering/testing) such that the appropriate enterprise funds pay their pro-rata share. <br />City staff was preparing to perform the construction administration on this project, but due to recent staffing <br />changes we will have to review this matter to determine what can be accomplished in house, and what will have to <br />be contracted. It is proposed that the Streetlight Utility will fund the streetlighting component of this project. The <br />Housing and Redevelopment Authority (HRA) will have to discuss the COR land sale proceeds referenced above to <br />determine whether they are interested in deviating from their land sale distribution policy, and apply the entire <br />amount of a pending land sale to this improvement project. A final funding package will be brought forward, <br />clarifying these matters, after the bids are opened and a project is proposed to be awarded (June 26, 2012). <br />Funding Source: <br />The funding for this project has been identified above. <br />Council Action: <br />This case is strictly informational in nature, no action is required. <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 06/07/2012 03:40 PM <br />Form Started By: Bill Goodrich Started On: 06/06/2012 02:17 PM <br />