Agenda - Council - 05/26/2020 - Laserfiche WebLink

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Based on previous direction, project costs are proposed to be funded in part by the City, in part by Capstone Homes, and in part by AKM Farms/Paxmar. The proposed cost contributions are outlined in the cost share model attached to this case. The City is proposed to contribute to the costs since the City owns 4 acres of real property fronting Puma Street, and since Puma Street is a collector street. As previously discussed, Capstone Homes requested that the City assess them for the share of project costs benefitting their property. Conversely, AKM Farm/Paxmar does not support an assessment at this time. As such, the Chapter 429 assessment process will continue to be followed, which will require a final assessment hearing on October 13, 2020. Several funding sources are available to pay for the City's share of street and trail project costs including the Public Improvement Revolving (PIR) fund, the Anoka County Redevelopment Authority (ACHRA), and Municipal State Aid (MSA) funds. All project costs required to extend trunk utilities along Puma Street are proposed to be paid through City sewer and water funds. The developer's share of these costs will be recovered through trunk fees at the time of development. City staff proposes to inspect construction and assist with project administration. Recommendation: Staff recommends alternative # 1 to support current and continued development in the area. Action: Motion to adopt Resolution #20-106 approving plans and specifications and authorizing advertisements for bids for Puma Street Improvements, Improvement Project #20-04. A roll call vote is required. Attachments Resolution 20-106 Resolution 20-043 Resolution 20-043A Riverstone 4th Cover Sheet Alpha Dev Concept Plan Cost Splits BMI Proposal IP2004 Plans Form Review Inbox Reviewed By Date Kurt Ulrich Kurt Ulrich 05/21/2020 04:15 PM Form Started By: Bruce Westby Started On: 05/19/2020 06:43 AM Final Approval Date: 05/21/2020