Laserfiche WebLink
2028 Street Improvements – Total Budget $7,758,093 <br />• Yorkton Boulevard $387,000 <br />• Yorkton Court $208,800 <br />• Australian Avenue E of Lakeshore Ave $249,300 <br />• Australian Avenue W of Lakeshore Ave $238,500 <br />• Bluwood Avenue $195,300 <br />• Rice Street $300,000 <br />• New bridge over 35E $6,000,000 <br />• Other – Inflation and transfers $179,193 <br /> <br /> <br />Fund Outlook: <br /> <br />As it can be noted in the graph below beginning with 2028 the fund is running a deficit fund <br />balance. The deficit is projected because of one proposed large project, the LC Road 4-3 and <br />Roundabout. There are still $1,625,000 of funding needed for the completion of this project that <br />have not yet been identified. In addition, City staff are exploring additional alternatives that could <br />potentially bring the total cost of the project down. A temporary solution for the fund will be to <br />explore drawing municipal state aid (MSA) earlier to meet obligations in 2028 and 2029. <br /> <br />The trail portion of the Labore Road street project (Centerville to County Road D) was included <br />for completion in 2032 and 2034 at 2.5 million. This project can also potentially be funded earlier <br />with a Metropolitan Council grant or other grant sources. If the grants are awarded, it could <br />potentially fund the entire Labore project or only a part. The total project cost is estimated at 5.6 <br />million. Currently the project is scheduled to be completed in two phases: 2032 for $1,950,000 <br />and 2034 for $3,646,000. The Met Council Grant of $2,500,000 has been included in the below <br />fund balance projection. If grants are not awarded and the City still desires to move forward with <br />the project, additional revenues (2.5 million) would need to be identified. <br /> <br />9