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<br /> <br />Item No. 5 <br />Meeting Date: March 3, 2008 <br />Type of Business: WK <br />WK: Work Session; PH: Public Hearing; <br />CA: Consent Agenda; CB: Council Business <br />City Administrator Review _______ <br /> City of Mounds View Staff Report <br /> <br />To: Honorable Mayor and City Council <br />From: Greg Lee, Director of Public Works <br /> <br />Item Title/Subject: Capital Improvement Program (CIP) Fund Review: <br /> Impacts on Tax Increment Financing Funds <br /> <br />Background: <br />On January 9, 2006 the City Council approved Resolution 6716 authorizing the <br />preparation of a preliminary feasibility report and consultant selection for the <br />County Road 10 Trailway Project: Segments 1-5. This was for the trailway, <br />lighting, and landscaping for the segments on the north side between County <br />Road H and Red Oak Drive (Silver Lake Road). <br /> <br />On November 5, 2007 the City Council reviewed a draft feasibility report for the <br />County Road 10 Trailway Project: Segments 1-5. <br /> <br />The estimated total cost of trailway segments 1-5, as per original Capital <br />Improvement Program for the County Road 10 Corridor Improvement Program <br />was 1.1 million dollars. The current cost, based on the feasibility report, is 1.67 <br />million dollars. <br /> <br />On November 13, 2007 the City Council discussed the feasibility report and <br />made a motion to refer this item back to a future Work Session for further <br />discussion. <br /> <br />The City has received a federal grant in the amount of $525,000 to finance a <br />portion of this project. These funds will be available in 2009. <br /> <br /> <br /> Discussion: <br />The original Capital Improvement Program for the County Road 10 Corridor <br />Improvement Program was developed in April 2006. In August of 2006, the <br />Landscape and Architectural Element Plan was ordered and later approved in <br />October of 2006 for the corridor. This plan changed the scope of the overall