Agenda - Council - 07/10/2018 - Laserfiche WebLink

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Observations/Alternatives: Observations: Within the April 24th, 2018 Council case authorizing the preparation of the grant application, staff indicated two other action items would occur relating to the final authorization to apply for the grant —seeking Anoka County's support, and also defining a 'list' of potential local share funding sources (the 20% of the $4,050,00 project construction cost). On the first item, Anoka County has confirmed they will be issuing a letter of support to accompany the grant application. As for the local share of the construction cost (estimated to be $810,000), the following options are listed below. NOTE: None of these sources of funding have been committed. The proposed city funds have noted competing future year projects and needs, that also may be proposed from these same sources. Additionally, budget discussions including policy direction involving the various use of city funds has yet to occur as of this case preparation. Potential Local Share Funding Sources • Park Trust Fund —approximate balance after 2018 Parks Capital Improvement Projects, $2.6M • Landfill Trust Fund —fund allows for capital expenditures that are outlined in the annual Capital Improvement Plan and authorized by City Council. Current fund balance is approximately $2M. • Anoka County Parks —monies allocated to implementing agency's for regional parks and trails. • Metro Transit —a special appropriation as the Mississippi Skyway is also a rail station enhancement. • Anoka County EDA—as the pedestrian bridge aligns with the tenets of providing equitable access to employment, business, transportation and housing. • New TIF District —if a major development opportunity on the south side of Hwy 10 warranted it as a financing tool, and catalyst for a desired project. • Other Three additional items should be noted here; the first is that if successful in the grant application, funding would not be available until 2022 (or thereafter). Secondly, the funding source being applied for, are monies only available for bicycle and pedestrian facilities like the Mississippi Skyway. And third, and perhaps most importantly, seeking funding for the pedestrian facility does not compete for surface transportation improvements to Hwy #10 but rather is an integrated, multi -modal highway safety improvement that effectively supplements desired improvements to the Hwy #10 corridor. Elements of this last point are also discussed in the first attachment, which is a summary 'one -pager' that will be submitted as part of the grant application. Funding Source: Funding is not authorized as part of this case. However, if awarded the grant, a local share of 20% of the construction cost would be required to be developed four to five years into the future (estimated at $810k), and in additon there would be 12-15% in construction engineering costs. Recommendation: Staff recommends applying for approximately $3,240,000 dollars in Federal funding through Metropolitan Council's Regional Solicitation grant program, due July 13, 2018. (Note: this funding opportunity will not occur again until 2020.) Action: