2009 budget book - Laserfiche WebLink

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Infrcrstruc�Movenients During the past few years there has been significant reconstruction of City streets, the storm water system, reconstruction of Silver Lake Village and our park infrastructures. New street construction for 2008 was Silver Lake Road from 37°i Avenue to St. Anthony Boulevard. This project was a cooperative effort between the City of St. Anthony and Hennepin County. The total cost of the reconstruction was projected to be $10 million dollars. The County portion is $6,890,000 and the City's share is approximately $3,110,000. The funds allocated for the City portion include: $1,200,000 coming from a combination of SAC/WAC fees; Chandler TIF; storm water Pees on hand; and the sale of a $1,910,000 road improvement bond. Funding for road improvements continues to be 35% assessed to the adjacent property owners and 65% levied over the entire community for their use of City streets. However, since this is a County Road there will be no direct assessment to the property owners who reside on Silver Lake Road. The normal 65% levy will be applied to the road levy which is funded by all City property owners including the residents on Silver Lake Road. The financial impact of the project was reduced by the payoff of the 1997A and 1999A Road Improvement Bonds. Another significant infrastructure construction project in 2008 was the $1,510,000 Water - Reuse Project. This project was a cooperative effort between the City and other jurisdictions with funding sources coming Prom the. Mississippi Water Management Organization (MWMO), Hennepin County, Rice Creek Watershed District and the City of St. Anthony. The concept of this project is new and innovative in that the water collected in a 500,000 gallon holding tank will be re -used for the sprinkling of Central Park and City Hall grounds. The 2009 road project provides street and utility reconstruction of Chandler Drive from County Road D to Foss Road, and Foss Road from Chandler Drive to the northeast corner of the City limits. The total costs are estimated to be $2,400,000, with funding sources coming from the City's street reconstruction funds, storm water utility funds, Municipal State Aid, available TIF funds, water and sanitary sewer funds and special assessments. Also in 2009, I7merald Park will be redeveloped for approximately $1,500,000 with funding will coming from the issuance of tax abatement bonds. The debt service payments are structured so they have no impact on the taxpayers. They will be offset by a $50,000 reduction in the road levy created by the payoff of the 2003D Road Improvement Bonds and $87,000 added to tax capacity for the decertification of the Chandler TIF District. Levv Our goal for the 2009 budget is to provide our community with strong, quality services for Police, Fire, Parks, and Public Works at the most cost effective and efficient way possible.