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• <br />• <br />Mn /DOT and Anoka County the City's share of the project is $6,086,656, including <br />approximately $560,000 in contingency. This represents an approximate $600,000 <br />increase over previous estimates. <br />Given the increase in the project cost, staff has been working with Springsted Inc. and <br />Kennedy and Graven to evaluate funding alternatives. The attached financing memo <br />prepared by the City's Finance Director, Mr. Al Rolek, provides an overview and <br />analysis of the project funding. Based on this analysis staff is proposing to move <br />forward with the project. <br />RECOMMENDATION: <br />Staff recommends adoption of Resolution No. 07 -68 awarding the Lake Drive /35W <br />Interchange Improvement Project to Lunda Construction of Black River Falls, <br />Wisconsin. <br />ATTACHMENTS <br />1. Resolution No. 07 -68 <br />2. Financing Memo — Al Rolek <br />3. Mn /DOT Letter of Concurrence <br />4. Bid Tabulation <br />