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CAPITAL PROJECT FUNDS-OTHER <br /> <br />Overview <br />Capital Project funds are used to account for the financial resources to be used for the acquisition or <br />construction of major capital facilities. The City of Little Canada has many Capital Project funds. The Capital <br />Project funds are classified in two categories (Capital Project Funds-Other, and Capital Project Funds-TIF). <br /> Capital Project Funds-Other <br /> General Capital Improvement Fund (Fund 400) <br /> Infrastructure Capital Improvement Fund (Fund 450) <br /> 10% Fund (Fund 408) <br /> Park Land Acquisition Fund (Fund 456) <br /> Fire Equipment Replacement Fund (Fund 457) <br /> <br />The Capital Project Funds-Other are included in the Ten-Year Capital Improvement Plan (CIP). The 2025-2034 <br />CIP is scheduled for review and approval by the Council on November 13th, 2024. The Pioneer Parks Master <br />Plan, a Facility Assessment Report, and the 15-Year Pavement Management Plan were completed in 2021. <br />These items are included in the 2025-2034 CIP. In addition, Emerald Ash Borer (EAB) was identified in Little <br />Canada in 2021. Tree removal and replacement costs related to EAB have been included in the CIP. The 2024 <br />projects from the approved CIP are included in the 2025 budget. The CIP can be located at <br />www.littlecandamn.org. <br /> <br />A summary of the Capital Project Funds-Other are included below: <br />General Capital Improvement Fund (400): <br />This Capital Project Fund is to account for major capital improvements and acquisition projects not accounted <br />for in another Capital Project fund. 2025 projects include: <br /> 2025 <br />EAB removal & replacement $30,000 <br />Building improvements 317,898 <br />Administration 10,855 <br />Parks and recreation 1,118,650 <br />Public Works equipment 459,500 <br />Total $1,936,903 <br /> <br />Infrastructure Capital Improvement Fund (450): <br />The Infrastructure Capital Improvement Fund is used to account for amounts received and the related <br />expenditures for the City’s streets and various infrastructure projects. A 15-Year Pavement Management Plan <br />was completed in 2021. Based on the Plan, there is sufficient funding for the street projects identified for the <br />next 15 years, except for the Labore Road Trail project. The trail portion of the Labore Road street project <br />(Centerville to County Road D) was included for completion in 2032 and 2034 at 2.5 million. This project can also <br />potentially be funded earlier with a Metropolitan Council grant or other grant sources. If the grants are <br />awarded, it could potentially fund the entire Labore project or only a part. The total project cost is estimated at <br />5.6 million. Currently the project is scheduled to be completed in two phases: 2032 for $1,950,000 and 2034 for <br />$3,646,000. The Met Council Grant of $2,500,000 has been included in the fund balance projection. If grants are <br />not awarded and the City still desires to move forward with the project, additional revenues (2.5 million) would <br />need to be identified. <br /> <br />2025 Street Projects include County Road D, Nadeau Road, LC Road 4-3 and Roundabout, County Road C, Maple <br />Leaf Court, and Stone Ridge Court. <br /> <br /> <br />90