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STATE OF MINNESOTA RESOLUTION NO 2010-002 A RESOLUTION REQUESTING $2 MILLION IN 2010 STATE BONDING FOR CONSTRUCTION OF WATER AND WASTEWATER INFRASTRUCTURE OF REGIONAL BENEFIT ! ! ! 0 . MINNESOTA DOES RESOLVE :l O WHEREAS, The City of Lake Elmo, located in Washington County, has approved a 2010 -2014 Capital Improvement Program which includes projected undertaking of several major infrastructure projects of region -wide economic development significance regarding implementation and execution of its Memorandum of Understanding with the Metropolitan Council relating to economic development and wastewater services necessitated by the region's 2030 growth projections; and WHEREAS, recent efforts by the City to devise and address long -term solutions to potable water needs, necessitated by significant contamination of area groundwater by PFC's, has resulted in critical prioritization of capital investment, particularly to address system integrity and expansion needs, including within the existing service area and along the planned I -94 corridor to accommodate the regional objectives of the State and the Metropolitan Council. WHEREAS, these efforts are made more difficult by having to construct such services around the approximately 4 square mile Lake Elmo Regional Park Preserve, owned and operated by Washington County, located in the center of the City; and WHEREAS, despite Lake Elmo's relatively high per capita income and per unit property tax values, the City's current low density development pattern, rural character and open space preservation ethic, results in a gross tax base which cannot support alone such regionally - significant capital investment without exponential increases in taxation rates and undue competition with other equally - legitimate local capital projects, such as roadway infrastructure, parks improvements and public works; and WHEREAS, City efforts to secure federal stimulus monies, State grants or PFA loans or Metropolitan Council funding, to devise a local -only funding strategy, or to partner with private developers for such large up -front capital infrastructure needs have proven unsuccessful; and WHEREAS, with planned concentrations of economic development activities within the City's Old Village area and along the I -94 corridor, Lake Elmo will be promoting a key regional/ statewide public purpose in servicing these areas with clean, safe water and sanitary sewer services, thereby advancing projected metropolitan economic development needs, including