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12987.8 <br />TO: Mayor and City Council <br />FROM: Mark Bernhardson, City Administrat4llL <br />DATE: December 9, 1987 <br />SUBJECT: County Road 15 - Financing Alternatives <br />Attachment A. Municipal State Aid Street Capital Improvements <br />Plan <br />B. County Road 15 Memo Dated 11/17/87 (without <br />attachments) <br />C. County Road 15 Costs <br />D. Zoning/Plat Map - Navarre <br />E. Petitions <br />ISSUES <br />1. Initial direction to staff regarding financing of project as <br />it relates to types of funding to be utilizied and approximate <br />amounts for each type. <br />2. Adoption of agreement with Hennepin County. <br />INTRODUCTION - At the November 23, 1987 Council meeting approval <br />was given to the final plans for the construction of County Road <br />15. It was indicated at that time that staff would be bringing <br />back further recommendations as to the financing. In addition <br />the Attorney has been reviewing the agreement. that had been <br />received just prior to the last meeting. <br />DISCUSSION - <br />A. Apportionment of costs - The original allocation of costs did <br />not prorate the design and construction management costs to the <br />individual construction items. This allocation does not change <br />the total but does change the allocation among the three <br />suggested financing types <br />11/28/87 <br />Memo <br />City/MSA Funding 248,000 <br />Special Assessments 108,000 <br />Storm Sewer Dist 72,000 <br />428►00© <br />12/10/87 <br />Proposed Allocation <br />218,000 <br />126,000 1.) <br />84,000 <br />428,0©0 <br />