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Table 1 <br />Estimated Costs <br />Estimated <br />Project Element Cost <br />Local Street Reconstruction $573,800 <br />Local Street Extensions $1,060,200 <br />Lake Drive Reconstruction $2,401,500 <br />Streetscaping /Landscaping $1,246,700 <br />Street Lighting $916,600 <br />Storm Sewer /Drainage $857,900 <br />Sanitary Sewer $242,600 <br />Water Main 1) $492,400 <br />City Park $590,300 <br />Total $8,382,000 <br />1) Includes $155,100 for trunk crossing of I -35W. <br />A more detailed cost estimate is included in the Appendix of this report. <br />7.0 Financing <br />A project of this complexity presents some unique challenges in the area of <br />funding. A combination of City utility funds, Met Council grants, special <br />assessments to benefiting properties and tax increment financing (TIF) is <br />anticipated to be utilized in financing various elements of the project. Anoka <br />County may provide some funding for improvements in Lake Drive. Freeway <br />ramp realignment and signalization may be eligible for Mn/DOT funding <br />through the agency's Cooperative Agreement program. <br />Extension of street, storm sewer, sanitary sewer, and water main <br />improvements into the development are proposed to be assessed on an area <br />basis to benefiting properties within the development. <br />Installation of a water main across I -35W for looping purposes is considered <br />a system improvement and will be financed with City trunk utility funds. <br />Street lighting, streetscaping, and landscaping improvements are proposed to <br />be assessed on an area basis to benefiting properties within the development. <br />The City has received a Livable Communities grant from the Met Council <br />and is in the process of pursuing additional funding from the agency. <br />Feasibility Report <br />City of Lino Lakes Page 13 <br />A -LI NOL0305.02 <br />