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Capital Improvement Program <br />City of Ramsey, Minnesota <br />Project # <br />04-STR-014 <br />2016 thrt! 2020 <br />Project Name COR Bunker Lake Blvd (Armstrong to Ramsey Blvd) <br />Type Improvement Department Street Improvements <br />Useful Life 60 Years Contact Unassigned <br />Category Street Improvement Priority 3-Existing Obligation (Med) <br />Description <br />Status Active <br />Total Project Cost: $3,650,000 <br />Upgrades Bunker Lake Blvd between Armstrong and Ramsey Blvds, necessitated by the COR Development. Upgrades include traffic signals at <br />Town Center Drive. Offsite improvements include a traffic signal at Sunfish Lake Blvd. <br />Total Cost for Bunker Lake Blvd. _ $4,520,000 <br />Street Improvements: $3,650,000 <br />Storm Water Improvements: $530,000 <br />Water Utility Improvements: $340,000 <br />Total Cost for Regional Roadway improvements = $14,607,860 (Per JPA) <br />Funding from TIF 14 will only be available if tax increment is created to be able to bond (20% of available increment needed for bonding or <br />$730,000 available increment) <br />Bonded amount $3,650,000 (a, 10 years (a, 5% int=$468,274 annual debt service <br />Justification <br />The construction of the COR will add additional traffic to Bunker Lake Blvd. This project will upgrade Bunker Lake Blvd to handle traffic from <br />the COR <br />See projects COR Armstrong, COR Hwy 10, COR Ramsey Blvd and Storm Sewer south of Bunker Lake Blvd. <br />Expenditu res <br />Improvements Other than <br />Building Cost <br />Total <br />2016 2017 2018 2019 2020 Total <br />3,650,000 3,650,000 <br />3,650,000 3,650,000 <br />Funding Sources 2016 2017 2018 2019 2020 Total <br />Tax Increment Fund #14 3,650,000 3,650,000 <br />(BONDING) <br />Total <br />3,650,000 3,650,000 <br />137 <br />