Laserfiche WebLink
Infrastructure Capital Project Fund (450) <br />Background: <br />Street and trails projects are funded with the Infrastructure Capital Project Fund that was established in <br />1995 as a way to systematically fund these infrastructure projects. A 15-Year Pavement Improvement <br />Plan was prepared in 2021, and those projects and costs are included in this CIP. <br />Source of Funds: <br />The fund receives revenues from many sources including the franchise fee for electric (proposed increase <br />of $180,000 starting with 2025 and $135,000 for 2024), property taxes, and special assessments. Further, <br />projects associated with Stormwater Infrastructure have been moved to a new implemented Stormwater <br />Utilities Fund 603. This fund is scheduled for implementation beginning with 2024, and will be funded <br />with a new stormwater utility fee. 2026 includes 2,150,000 Grants for LC Road 4-3. <br />Uses of Funds and future CIP highlights: <br />2024 Street Improvement Project - Total Budgeted $1,448,060. <br />•County Road D - $110,000 <br />•Jackson Street and LC Road - $351,669 <br />•Country Drive RR Tracks to So Owasso - $706,391 <br />•LC Road 4-3 and Roundabout - $230,000 <br />•County Road C - $50,000 <br />2026 Street Improvements – Total Budget $4,404,000 <br />•LC Road 4-3 and Roundabout for $2,100,000 which is a split project shared with Vadnais Heights <br />•McMenemy Street - $1,125,000 <br />2027 Street Improvements – Total Budget $3,794,500 <br />•Labore Road Trail portion - $2,500,000 <br />6