Laserfiche WebLink
Riverdale Drive Development Initiated Expansion and Safety Improvement Project <br />Scenario 4a: Time Sensitive (2020 Approval) Scenario <br />Total Project Costs <br />Anoka County Parcel <br />$ 639,750 <br />Pearson Properties Parcel <br />$ 1,066,250 <br />Total Project Costs <br />$ 1,706,000 <br />Pearson Properties Parcel <br />Pro-Rata Frontage Costs <br />$1,066,250.00 <br />Potential Funding Sources <br />MnDOT LPP Grant Allocation <br />$188,000.00 <br />Municipal Contribution to <br />Collector Road <br />$200,000.00 <br />Assessment Amount <br />$678,250.00 <br />Preliminary Assessment Roll <br />Property/Party <br />Percentage <br />Assessment Amount <br />Capstone/Riverstone South <br />50.00% <br />$339,125.00 <br />Dobbs/Commercial/Industrial <br />50.00% <br />$339,125.00 <br />Total <br />100.00% <br />$678,250.00 <br />Total Contribution by Party/Pearson Frontage Only <br />Property/Party <br />Amount <br />Percentage <br />City/Public Dollars <br />$388,000 <br />36.39% <br />Capstone/Riverstone South <br />$339,125 <br />31.81% <br />Dobbs/Commercial/Industrial <br />$339,125 <br />31.81% <br />Total <br />$1, 066, 250 <br />100.00% <br />Anoka County Parcel <br />Roadway Costs <br />$639,750.00 <br />MnDOT LPP Allocation <br />$522,000.00 <br />Unallocated Public Contribution <br />$117,750.00 <br />Note: Developer believes City's contribution <br />should be 50% for this collector road. <br />Note: $121,000 for Interim Sanitary (developer <br />cost) <br />Need to determine appropriate funding source. <br />Total Project: Public versus Private Dollars <br />Amount <br />Percentage <br />MnDOT Grant <br />$710,000 <br />42% <br />City Dollars (including unallocated from County Parcel) <br />$317,750 <br />19% <br />Private Dollars <br />$678,250 <br />40% <br />Total <br />$1,706,000 <br />100% <br />Note: Developer recommends that they should not be responsible for solving for frontage on Anoka <br />County Property. Feels City's contribution should be higher. <br />^'60% Public Dollars <br />