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City of Mounds View Staff Report <br /> al Highway 10 Pedestrian Bridge -Appendices <br /> February 21, 1997 <br /> Page 5 <br /> APPENDIX B: <br /> SOURCES OF FUNDING FOR LOCAL SHARE OF PEDESTRIAN BRIDGE <br /> This appendix provides a catalog of funding sources which could be used for the local share <br /> needed to construct the pedestrian bridge, including the ones which have been identified in the <br /> project budget and alternatives. Previous City Council action established that the local share <br /> would be covered using the following funds: <br /> • $81,642 from Franchise Fee Account#295-3850 <br /> • $41,558 from Special Projects Fund#590-3850 <br /> • $31,000 from General Fund 100-3850 <br /> • $25,000 from Street Light Fund 770-3850 <br /> • $10,800 from(Recreation)Activity Fund 250-3850 <br /> • $36,900 from Storm Water Management Fund <br /> $226,900 <br /> ALTERNATIVE FUNDING SOURCES <br /> 0 1. MSA <br /> Source:State of Minnesota <br /> The City of Mounds View receives an annual allotment of funds from the State of <br /> Minnesota for street and highway projects. Staff has confirmed that these funds may be <br /> used for the pedestrian bridge for construction, design and inspection costs. The two <br /> most recent allotments were: <br /> 1996 $220,750 <br /> 1997 1 $240,944 <br /> At present, the City's MSA Account has a balance of$390,860 which includes the 1996 <br /> allotment. With both 1996 and 1997, the amount available is $631,804. The City is <br /> allowed to borrow against future allotments as long as the outstanding advance is no more <br /> than twice our annual allotment or$500,000 whichever is less. <br /> The City has been using MSA funds for reconstruction of streets. Two projects are in the <br /> pipeline which will use MSA funds: <br /> Local MSA Funds(1) <br /> • reconstruction of Old Highway 8 $322,000 1997 <br /> • • Spring Lake Road $880,000 1998 <br />