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1 <br />1 <br />Executive Summary 5 <br />Springsted <br />based on a minimum lot size in the zoning district in which the reconstruction <br />takes place. <br />The City charter provides that when less than one - hundred percent of the <br />estimated cost of a proposed improvement is to be paid by special assessments, <br />connection charges, or any outside funding source other than the City's general <br />fund, the City must submit the proposed local improvement to a vote of the <br />citizens. This would require that each PMR reconstruction project funded by <br />our recommended sources would need to be approved by a vote of the citizens. <br />This creates an additional requirement the City of Lino Lakes must follow if the <br />PMR is to be implemented. However, the funding sources we have <br />recommended provide the City with a method of financing their PMR that is <br />widely used by most other cities in Minnesota. Implementing the PMR is <br />clearly in the City's best interest because increasing pavement maintenance and <br />reconstruction spending to the amounts we have recommended will result in a <br />net savings of $11 million over the next ten years according to the Pavement <br />Management Report prepared by TKDA. <br />- 174 - <br />City of Lino Lakes - Pavement Management Plan Financing Rei <br />