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^' P REQUEST FOR COUNCIL CONSIDERATION Agenda Section: 8. STAFF REPORT Report Number: 95-1545WS AGENDA SESSION DATE December 4, 1995 Report Date: 11-30-95 DISPOSITION Item Description: Update of 610 North Crosstown Parkway Toll Road Administrator's Review/Recommendation: - No comments to supplement this report - Comments attached. Explanation/Summary (attach supplement sheets as necessary.) $UMMARYz As per Council request, I have gathered information on the proposed toll on the North Crosstown Parkway (Highway 610). The idea originated due to the more than $5 billion worth of road projects across the state that lack funding. MnDOT called for toll proposals in July, in compliance with recent State law requiring transportation officials to consider alternative financing for all projects costing more than $10 million. The outline below will give you a better idea of what the Minnesota Transportation Group, led by Hughes Aircraft Co., is proposing to MnDOT. DESCRIPTION: The project involves the completion of the proposed four-lane Highway 610 corridor, running east and west from Interstate 94 to Interstate 35W. There would also be a new bridge over the Mississippi River and relative interchanges. Private sector proposals would need to contract with public agencies to provide for maintenance, snow removal and police services which meet or exceed MnDOT standards. COST OF CONSTRUCTION: The cost of this new construction will be approximately $281 million. In addition to private investments (Revenue Bonds), some public money would also need to be invested. Robert Zauner, of the Minnesota Transportation Group, states that, "The greater the public investment, the lower the tolls." PROPOSED TOLL: Upon completion of the project in 2000, the toll would be considered variable with an average of$1.65 for the entire corridor. a - rt14(J/01.P Dawn Postudensek, Administrative Intern RECOMMENDATIONz