Agenda - Council - 02/13/2024 - Laserfiche WebLink

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between Willemite Street and the roundabout at the intersection of Sunwood Drive and 147th Avenue, and reconstructing Center Street between 146th Avenue and Bunker Lake Boulevard. Attached is a figure showing the scope of the proposed improvements, as well as the title sheet from the plans. As always, staff does not attach full plan sets to prevent contractors from bidding off attached plans,which would prevent them from receiving notifications of published bid addenda. All street, sidewalk and trail profiles were designed in coordination with the COR Mass Grading final elevations. Notification: Following Council approval,bid advertisements will be published in the Anoka Union Herald on Friday, February 16th, and Friday,February 23rd, 2024. Observations/Alternatives: Observations: Tentative project schedule: •March 13th- Bids opened •March 26th- Council considers award of contract •April/May- Start construction •August 30th- Substantial completion •October 18th-Final completion Constructing all streets at once will minimize impacts to residents and area businesses. Alternatives: Alternative#1: Adopt Resolution#24-046 approving plans and specifications and authorizing advertisements for bids for Improvement Project#23-19, COR Infrastructure Improvements. Funding Source: The engineer estimated construction costs at $3,580,000. Estimated project costs total $4,403,400 after adding 23-percent indirect costs for administrative, engineering, finance and legal fees. Proposed funding sources are as follows; • $3,7561500 - TIF 1, TIF 2, and TIF 14 Bonds • $ 11000 - Sanitary Sewer Funds • $ 532,900 -Watermain Funds TIF eligible improvements include streets, sidewalks, and storm sewer. Sanitary sewer and water improvements are also TIF eligible expenses,but staff initially proposes to utilize sewer and water funds to fund these improvements and preserve TIF funds for other identified infrastructure needs within The COR, including the extensions of Veterans Drive and Peridot Street. Should TIF funds be available to fund these sewer and water improvements upon completion, TIF funds could be used to preserve the utility enterprise funds for future improvements identified in the Capital Improvement Plan. Finance Director Lund and the City's financial consultant, Ehlers,recommend using TIF bonds for the approximate $7,000,000 in COR improvements, including the COR Infrastructure Improvements. Attached is a 15-year tax increment bond run provided by Ehlers. City staff will inspect construction and process pay requests.