2009-073 Council Resolution - Laserfiche WebLink

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STAFF ORIGINATOR: CITY COUNCIL MEETING DATE: TOPIC: ACTION REQUIRED: BACKGROUND AGENDA ITEM 1A (ii) Michael Grochala October 5, 2009 Consideration of Resolution No. 09 -73 Approving Joint Powers Agreement with Anoka County for Construction- I- 35E/CSAH 14 (Main Street) Interchange Simple Majority Anoka County is preparing to move forward with construction of the 35E /CSAH 14 interchange pending approval of a Joint Powers Agreement (JPA) with by the City of Lino Lakes. The purpose of the JPA is to stipulate the county and city responsibilities for construction and more importantly the cost sharing structure for the project. With the execution of the agreement all the agency funding will be in place for the project. The total estimated project cost, including engineering and land acquisition is $22,025,000. Funding for the project is as follows: City of Lino Lakes Anoka County State of Minnesota Federal Government Total $ 4,241,833 $ 3,017,334 $ 1,220,833 $13,545,000 $22,025.000 As noted in the agreement the city share of construction and land acquisition, after application of federal and state funds, will be 60% and the county 40 %. Any cost over runs or under runs will be based on this same percentage. Additionally, any additional funding received would be applied consistent with this formula. The agreement does include additional opportunities for the city to earn credits based toward our share. City and county staff have explored options including county road turnbacks and land in lieu of cash for a future salt storage /truck garage. The credit option provides the city with a "contingency" to address potential overruns, assessment adjustments if necessary or as an interim financing source. The city's share of the project funding will be paid by special assessments to benefitting property owners. However, nearly 80% of the proposed assessment amount is