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07/06/2009 Council Packet
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07/06/2009 Council Packet
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6/18/2014 5:34:29 PM
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City Council
Council Document Type
Council Packet
Meeting Date
07/06/2009
Council Meeting Type
Work Session Regular
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• <br />• <br />WS — Item 1 <br />WORK SESSION STAFF REPORT <br />Work Session Item 1 <br />Date: Council Work Session, July 6, 2009 <br />To: City Council <br />From: Michael Grochala <br />Re: 35E /CSAH 14 Interchange Update <br />Background <br />Staff will be providing an update on the status of funding for the project. The total <br />project cost currently stands at approximately $23,000,000. The local share, to be split <br />between Anoka County and Lino Lakes, is estimated at $10.2 million. Our share, based <br />on a cost split of 50% of construction and 100% of land acquisition, is $7.8 million. The <br />cost share, as proposed, is not viable from both a funding and financing standpoint. Staff <br />has been working with Anoka County to modify the cost share as well as pursuing <br />additional funding opportunities. <br />1 <br />
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