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• Bonds <br />• Assessments <br />Attached is a copy of the cash flow projections for these funds copied from the 2025 to 2034 Capital <br />Improvement Plan. As previously discussed, of these funds only the PIR fund, bonds, and assessments are <br />applicable. Pavement Management (PM) Funds are not an option as these funds are strictly dedicated to <br />funding pavement overlay and street reconstruction projects and are not applicable to gravel road conversion <br />projects. <br />Per the attached Special Assessments Policy, property owners could be assessed 50-percent of project costs to <br />convert the street they directly access from gravel surfacing to bituminous pavement. However, property <br />owners could petition against the assessments. <br />Since the January 20th PWC meeting, staff identified two other potential funding sources, TIF 1 and TIF 2. <br />According to Finance Director Diana Lund, TIF 1 has a current balance of $1,052,000 but approximately <br />$ 800,000 of this is dedicated to funding a 2026 Pavement Management Program project, which will leave a <br />balance of approximately $250,000 in 2027. Similarly, TIF 2 has a current balance of $1,300,000 but <br />approximately $680,000 of this is dedicated to funding a 2027 Pavement Management Program project, which <br />will leave a balance of approximately $620,000 in 2027. This means approximately $870,000 could be <br />available to fund gravel road paving projects from the TIF 1 and TIF 2 districts, of which 2 appear to apply, <br />namely Areas E (158th Lane) and F (Beatty and Collins Drive). These projects have estimated costs of <br />$430,000 and $280,000, respectively, totaling $710,000. <br />There are other potential road improvement projects within TIF 14 (COR) that could be funded partially with <br />TIF 1 and TIF 2 funds. Ultimately, a priority list of road improvements should be set with the limited funds we <br />have available. <br />Recommendation: <br />Staff has no recommendation at this time. <br />Outcome/Action: <br />Based on discussion. <br />Attachments <br />May 21, 2002, PWC minutes <br />July 19, 2011 PWC case and minutes <br />Estimated GREP costs <br />GREP Geotech Report <br />CIP Cash Flow Projections <br />Special Assessments Policy <br />Form Review <br />Inbox Reviewed By Date <br />Brian Hagen Brian Hagen 03/13/2025 01:05 PM <br />Form Started By: Bruce Westby Started On: 02/28/2025 02:11 PM <br />Final Approval Date: 03/13/2025 <br />