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Source of Funds: <br />The 10% Fund receives 10% of net profits derived from lawful gambling in the City as identified in the City <br />Code 815.030 and as allowed by the State. <br /> <br />Fund Outlook: <br />Canadian Days fireworks ($15,000 per year) are also funded with this fund. There are sufficient revenues <br />to fund the expenditures identified for the next ten years. <br /> <br /> <br />Infrastructure Capital Project Fund (450) <br /> <br />Background: <br />Street and trails projects are funded with the Infrastructure Capital Project Fund that was established in <br />1995 to systematically fund these infrastructure projects. A 15-Year Pavement Improvement Plan was <br />prepared in 2021, and those projects and costs are included in this CIP. <br /> <br />Source of Funds: <br />The fund receives revenues from many sources including the franchise fee for electric, property taxes, and <br />special assessments. Further, projects associated with Stormwater Infrastructure have been moved to the <br />new implemented Stormwater Utilities Fund 603. This fund has been implemented beginning with 2024 <br />and is funded with the stormwater utility fee. The City has been able to take advantage of significant <br />grants and funding from other jurisdictions for the following proposed projects: <br />• 2025 – LC Road 4-3 $1,125,000 - Reimbursement from County <br />• 2026 – LC Road 4-3 $7,500,000 (Regional Solicitation- Met Council, State of Minnesota Local Road <br />Improvement Program, Highway Safety Improvement Program) <br />• 2026 – New bridge over 35E $400,000 <br />• 2027 – New bridge over 35E $450,000 <br />• 2028 – New bridge over 35E $6,000,000 <br />• 2032 and 2034 – Labore Trail project $2,500,000 - Met Council grant or other funding sources as <br />available <br />7