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: �' Item #: 5B ' MOUNDSMeeting Date: March 9, 2012 VIEW Type of Business: EDC Administrator Review: City of Mounds View Staff Report To: Economic Development Commission From: Heidi Steinmetz, Economic Development Specialist Item Title/Subject: Discuss County Road 10 Corridor Improvements Background On November 18, 2011, the EDC reviewed the 2006 Premium Stop Redevelopment Area Study and made plans to discuss how the EDC would recommend using the EDA's approximate $700,000 in available TIF funds for redevelopment purposes. On January 3, 2012, the City Council discussed possible County Road 10 improvements and enhancements and directed city staff to contact Ramsey County to inquire about grant funds available for beautification projects. Staff spoke with Joe Lux, Planning Specialist with Ramsey County Public Works, and he confirmed that there is no funding available from the County for beautification projects along County Rd 10. The City Council also asked that • the EDC recommend a list of County Road improvements with associated cost estimates that could be implemented as early as this summer. On February 17, 2012, the EDC briefly discussed County Rd 10 beautification items but tabled the discussion due to time limitations. Discussion Listed below are several County Road 10 improvements included within the City's Five- Year Financial Plan for 2012-2016 (see attached pages 6 &8 of the Five-Year Plan). The funding sources in the Five-Year Plan are separate from the approximate $700,000 in unobligated TIF funds. • Two intersection improvement projects are planned for 2012 (County Rd H, Silver Lake Rd). • Two intersection improvement projects are planned for 2013 (County Rd I, Woodale Dr). • Two trail segments (6 & 11) are planned for 2013. • Gateway features for at total of$886,600 are planned for 2014. • Median enhancements for $350,000 are planned for 2014. There is also a senior citizen housing project that is supposed to break ground next month along County Road 10 (Coventry Senior Living). This project would significantly improve the image of the County Road 10 corridor.