Agenda - Council - 06/12/1984 - Laserfiche WebLink

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I I I I 8 10. 11. 12. The following projects are consistent with the Water Quality Management Policy Plan and have design and/or construction costs scheduled before 1986: Project Step II Step III Total A1 am/Tel emetry System CAB Int. Phase II Lake Virginia PS & FM Maple Plain PS & FM Mpls. East Int. Phase II Metro WWTP - Ash Landfill New Projects Total 0.10 1.64 1.74 0.131 0.131 Completed 6.63 6.63 O. 18 2.35 2.53 Completed 26.22 26.22 0.43 ?.29 7.72 ~.841 ~ ~r4q-~T1 Approval of the projects listed above will involve $44,971,000 worth of new construction (in 1984 dollars) prior to 1988. An exact allocation of these costs to federal, state and metropolitan funding cannot be completed due to the status of the construction grants program. Council staff estimates that in excess of $35 million metropolitan funding (1984 dollars) could be required. (The critical assumption is that Minneapolis East Interceptor will not be grant eligible during this period.) The Bayport Pump Station and Force Main should be deleted from the 1984- 1988 Development Program because the Bayport Comprehensive Plan states the City will not exceed the capacity of the Bayport Wl~TP before 1990. The Stillwater WWTP expansion, approved in the 1982-1986 Development Program, should be deleted. In its place the MWCC should review the capacity problems associated with the final clarifiers. The MWCC should return with a development program addressing this capacity problem. Delet- ing this project will reduce previously approved Development Programs by $13.66 million (1983 dollars). The MWCC°s share of funding of the development program and the 1984 Capital Budget is projected to cost $114.5 million from 1984 to 1989. The funding is proposed to be derived from cash on hand, investment income and new borrowing in the amount of $117.3 million. The new borrowing is proposed to be for 20 years for each issue with the initial interest requirements being capitalized. Each issue is recommended to be in the $15 to $20 million range. The combination of debt service and operating costs will increase the annual cost allocations to the cities and townships by 5.3 to 7.5 percent per 100,000 gallons of sewage flow. SAC charges may be increased as a result of financing the development program. While concepts of bond issue alternatives, amendments to cost allocations and changes in SAC fees are matters to be discussed at the time of review of the development program, decisions should not be made until specific bond issues are prepared or capital budgets are reviewed. Financing for the development program improvements are not expected to have negative impacts on the MIF debt indicator and debt service indicator.