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need to be contracted out. <br />Alternatives: <br />Alternative #1: <br />Provide consensus direction to staff to further explore the following funding sources to fund GREP projects, <br />and to present the information at a future City Council work session. <br />Alternative #2: <br />Provide consensus direction to staff to finalize a draft Gravel Road Elimination Policy including detailed <br />estimated project costs for all six gravel road segments, a project prioritization schedule, and a funding program <br />using the following funding sources; <br />Alternative #3: <br />Provide other consensus direction to staff as follows; <br />Funding Source: <br />Current estimated project costs for converting all six (6) gravel -surfaced roads to streets with bituminous <br />pavement total $2,250,000. These estimated project costs were developed with the aid of soil boring reports on <br />all segments to identify required subsurface soil corrections. <br />Potential funding sources for Gravel Road Elimination Program projects include; <br />• General levy <br />• Public Improvement Revolving (PIR) funds <br />• TIF Funds from Districts 1 and 2. Only 2 of the 6 segments are eligible to use TIF funds. TIF funds can <br />only be used within the Cities TIF Development District. <br />• Bonds <br />• Assessments <br />• Stormwater Funds <br />TIF District maps are attached. <br />PIR and TIF funds are often used to fund other city improvement projects. If PIR and/or TIF funds are used to <br />fund GREP projects, other improvement projects may not be able to be completed. <br />Also attached are cash flow projections for relevant funding sources. <br />PWC members were generally split on the use of bonds, and by consensus were opposed to applying special <br />assessments to GREP projects. <br />Pavement Management (PM) Funds are not an option as these funds are strictly dedicated to funding pavement <br />overlay and street reconstruction projects and are not applicable to gravel road conversion projects. <br />Recommendation: <br />Based on discussions. <br />Outcome/Action: <br />Based on discussions. <br />Attachments <br />GREP segments and estimated costs <br />Map of TIF District 1 <br />