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06-22-2020 Council Packet
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06-22-2020 Council Packet
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City Council
Council Document Type
Council Packet
Meeting Date
06/22/2020
Council Meeting Type
Regular
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Draft Lino Lakes 2020-2024 Street Reconstruction Plan 2020v1 6/16/2020 <br />City of Lino Lakes <br />Five-Year Street Reconstruction Plan <br />2020 through 2024 <br />I.PURPOSE <br />Street reconstruction is a major expenditure of city funds for the reconstruction of streets. <br />Street reconstruction may include bituminous overlays, utility replacement and <br />relocation, public safety street modifications, and other incidental activities, turn lanes <br />and other improvements having a substantial public safety function, realignments, other <br />modifications to intersect with state and county roads, and the local share of state and <br />county road projects. Except in the case of turn lanes, safety improvements, <br />realignments, intersection modifications, and local share of state and county road <br />projects, street reconstruction does not include the portion of project costs allocable to <br />widening a street or adding curbs and gutters where none previously existed. A Street <br />Reconstruction Plan (“SRP”) is a document designed to anticipate street reconstruction <br />expenditures and schedule them over a five-year period so that they may be purchased in <br />the most efficient and cost effective method possible. An SRP helps enable the matching <br />of expenditures with anticipated income. As potential expenditures are reviewed, the city <br />considers the benefits, costs, alternatives and impact on operating expenditures. <br />The City of Lino Lakes, Minnesota (the “City”) believes the street reconstruction process is <br />an important element of responsible fiscal management. Major capital expenditures can <br />be anticipated and coordinated so as to minimize potentially adverse financial impacts <br />caused by the timing and magnitude of capital outlays. This coordination of capital <br />expenditures is important to the City in achieving its goals of adequate physical public <br />assets, preservation of public assets and sound fiscal management. Good planning is <br />essential for the wise and prudent use of limited financial resources. <br />The SRP is designed to be updated periodically. The Street Reconstruction Plan is a part of <br />the City’s capital improvement plan. In this manner, it becomes an ongoing fiscal planning <br />tool that continually anticipates future capital expenditures and funding sources. <br />II.THE STREET RECONSTRUCTION PLANNING PROCESS <br />For the City to use its authority to finance expenditures under Chapter 475.58, Subdivision <br />3b, it must meet the requirements provided therein. The street reconstruction planning <br />process is as follows: <br />The City staff prepares an SRP reflecting the street reconstruction projects anticipated to <br />be undertaken within the next five years (based on their priority, fiscal impact, and <br />available funding) and the estimated costs thereof. If general obligation bonding is <br />deemed necessary, the City works with its financial advisor to prepare a bond sale and <br />repayment schedule. A public hearing is held to solicit input from citizens on the SRP and
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