Laserfiche WebLink
Capital Improvement Program 2016 thru 2020 <br /> City of Ramsey, Minnesota <br /> Project# 04-STR-014 <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 /> Status Active <br /> Description 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 , 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 /> Expenditures 2016 2017 2018 2019 2020 Total <br /> Improvements Other than 3,650,000 3,650,000 <br /> Building Cost <br /> Total 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 3,650,000 3,650,000 <br /> 122 <br />