Agenda - Council - 01/27/2015 - Laserfiche WebLink

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Alternatives: Alternative Action #1 — Motion to adopt Resolution 15-01-025 Ordering Feasibility Report for Jarvis Street Reconstruction and Railroad Crossing Quiet Zone Improvements; City Improvement Project #15-20. Alternative Action #2 — Motion to deny adoption of Resolution 15-01-025 at this time. Funding Source: The Feasibility Report will be completed in-house as part of staff's regular duties. No soil exploration work will be required. Based on Elk River's estimated cost -share information attached, the City of Ramsey's share of the project costs, estimated at 50%, totals $920,305.50. The City of Elk River is agreeable to paying the City of Ramsey's share of the costs up -front with an interest-free payback period of 3 -years from 2016 to 2018. A mix of Public Improvement Revolving (PIR) Funds, storm water utility and special assessments are proposed to be used to pay the City of Elk River back however, funding sources will be explored in more detail within the Feasibility Report. Recommendation: Due to the mutual benefits provided by this project, and the ability to pay the costs back interest-free over a three-year term, staff recommends approval of Alternative Action #1. Action: Approve or deny adoption of Resolution #15-01-025 ordering a Feasibility Report for the Jarvis Street Reconstruction and Railroad Crossing Quiet Zone Improvements; City Improvement Project #15-20. Res 15 01 025 Elk River Proposal Ltr 082814 Elk River Case w Feas Rpt BMI memo 36ft option 102914 Jarvis 36ft Est Costs Attachments Form Review Inbox Reviewed By Date Diana Lund Diana Lund 01/22/2015 10:20 AM Kurt Ulrich Kurt Ulrich 01/22/2015 11:25 AM Form Started By: Bruce Westby Started On: 01/20/2015 08:17 AM Final Approval Date: 01/22/2015