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The current version of the ten-year streets CIP results in a positive balance of $1.3 million in the <br />Infrastructure Capital Project Fund (450) after ten years. It does, however, result in a negative <br />balance in the City’s MSA State Aid account of $2.3 million. The City can borrow from its <br />MSA State Aid account up to five years ahead. Based on the 2021 MSA allocation of $369,300, <br />the five-year amount would be $1,846,500. <br />One way to improve the health of the MSA State Aid account is through grant funds for MSA <br />road projects. Staff applied for the Local Road Improvement Program (LRIP) grant funds earlier <br />this year for Country Drive but the project was not selected. Staff plans to submit Country Drive <br />and Twin Lake Boulevard during the next LRIP cycle in 2023. Staff will also apply for any <br />other grant funds that may become available for street projects in the coming years. In most <br />cases, projects that are close to shovel ready receive priority when grant funds are being <br />awarded. To that end, staff is recommending that the Council authorize the expenditure of funds <br />for feasibility reports for Twin Lake Boulevard and Country Drive so that Bolton & Menk can be <br />prepared for any grant applications that may become available in the next year or two. <br />Along with that, staff is recommending the authorization of funds for Bolton & Menk to <br />complete feasibility reports for the proposed 2022 street projects and send notifications to <br />property owners so that the street improvement process can begin for those streets. <br />SOURCE OF FUNDS: <br />The funds for the feasibility reports will come from the 450 fund, which is the Infrastructure <br />Capital Improvement Fund. <br />STAFF RECOMMENDATIONS: <br />Staff recommends the Council authorize $86,000 for Bolton & Menk to complete feasibility <br />reports for the 2022 proposed street projects along with Twin Lake Boulevard and Country Drive <br />from the railroad tracks to Little Canada Road. <br />Motion to approve the notification of property owners on the 2022 project streets and begin the <br />street improvement process. <br />ATTACHMENTS: <br />Ten-year Plan Spreadsheet