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10.19.21 PWC Presentation Solving for 350K Tree Preservation with HRA and PIR Funding
<br /> City/Grant Fully Funding County Parcel Project Costs(including ROW)
<br /> Area Description Cost Allocation Lineal Footage % City% Capstone% Pearson%
<br /> County Parcel $612,226 1532 35.89% 100% 0 0
<br /> County ROW DRAFT 0 0 100%
<br /> Pearson Parcel $979,881 2452 57.44% 52.5% 0.0% 47.5%
<br /> Bowers Drive Modifications $113,893 285 6.68% 100% 0 0
<br /> Total $1,989,000 4269 100.00%
<br /> "Note:utilities not included-paid for by Trunk Fees"
<br /> Sources of Funds
<br /> County Parcel Pearson Parcel % Bowers Drive Total Project
<br /> MnDOT Grant $612,000 $0 $612,000 30.8%
<br /> City Contribution(HRA) $283,226 $514,242 52.5% $113,893 $911,361 45.8%
<br /> Pearson Contribution $465,639 47.5% $465,639 23.4%
<br /> Capstone Contribution $0 0.0% $0 0.0%
<br /> $895,226 $979,881 100.0% $1,989,000 100.0%
<br /> Uses(Project Costs)
<br /> Portion of Overall Project 35.9% 57.4% 6.7% 100.0%
<br /> Road,Trail,Storm $612,226 $979,881 $113,893 $1,706,000
<br /> ROW $283,000 _ $283,000
<br /> $895,226 $979,881 $113,893 $1,989,000
<br /> 1/3 of funding
<br /> County Parcel+ROW= $895,226 gap
<br /> Funding Gap
<br /> Public vs.Private Dollars
<br /> Private(Capstone+Pearson) $465,639 23%
<br /> Public(City+MnDOT) $1,523,361 77%
<br /> $1,989,000
<br /> Capstone/Pearson Agreement* Party Assessment Amt
<br /> Private Pearson Parcel Total Capstone $239,875 34%
<br /> $465,639 Pearson $465,639 6 6 Y
<br /> *Assessment amounts based on lineal footage along Riverdale Drive Pearson and Capstone
<br /> Capstone Tree Preservation Credit(Pearson) $ 239,875 HRA Pay for Capstone Assessment(above)
<br /> Additional City Contribution(to Capstone) $ 110,125 PIR Payment to Capstone
<br /> Tree Preservation Reconcilliation $ 350,000
<br /> Difference from 1.26.21
<br /> Total City Contribution** $ 911,361 $235,841
<br /> Total Grant Contribution $ 612,000 $ (638,000)
<br /> ROW Cost Estimate $ 283,000 $ (667,000)
<br /> Project Costs Less County ROW $ 11706,000 $ 31,000
<br /> **This includes 350 K Tree Preservation
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