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Capital Improvement Program <br />City of Ramsey, Minnesota <br />2015 thru 2019 <br />Project # 04-STR-014 <br />Project Name COR Bunker Lake Blvd (Armstrong to Ramsey Blvd) <br />Type Improvement <br />Useful Life 20 Years <br />Category Street Improvement <br />Department Street Improvements <br />Contact Unassigned <br />Priority 6-Planned <br />Status Active <br />Description <br />Total Project Cost: $3,500,000 <br />Upgrades Bunker Lake Blvd between Armstrong and Ramsey Blvds, necessitated by the COR Development. Upgrades include traffic signals at <br />Town Center Drive. Offsite improvements include a traffic signal at Sunfish Lake Blvd. <br />Total Cost for Bunker Lake Blvd. _ $3,419,000 <br />Total Cost for Regional Roadway improvements = $14,607,860 <br />Funding from TIF 14 will only be available if tax increment is created to be able to bond (20% of available increment needed for bonding or <br />$602,000 available increment) <br />Justification <br />The construction of the COR will add additional traffic to Bunker Lake Blvd. This project will upgrade Bunker Lake Blvd to handle traffic from <br />the COR <br />See projects COR Armstrong, COR Hwy 10 and COR Ramsey Blvd. <br />Expenditures <br />2015 <br />2016 <br />2017 <br />2018 <br />2019 <br />Total <br />Improvements Other than <br />Building Cost <br />3,500,000 <br />3,500,000 <br />Total <br />3,500,000 <br />3,500,000 <br />Funding Sources 2015 2016 2017 2018 2019 Total <br />Tax Increment Fund #14 3,500,000 <br />(BONDING) <br />3,500,000 <br />Total 3,500,000 <br />3,500,000 <br />Page 156 <br />