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Executive Summary 4 g <br /> Springsted Incorporated was engaged by the City of St. Anthony (the "City") to help determine <br /> . the most cost-efficient way to finance capital improvement projects in the years 1999 through <br /> 2004 (the "Study"). <br /> Effective capital planning requires the matching of capital requirements with available <br /> resources. A list of potential capital projects must be paired against the total financial resources <br /> of a community in order to arrive at an optimal investment portfolio. Therefore, to effectively <br /> meet the challenges of the City's Capital Improvement Plan ("CIP"), it is necessary to assess <br /> the City's total resources available for capital expenditures. Once these parameters have been <br /> established, the City will be able to more effectively assess the projects that have been <br /> proposed for City funding. <br /> Projects <br /> The following is showing the seven identified capital improvement projects for the City and the <br /> recommended sources of payment and techniques of financing. <br /> - Kecorrimended Source of <br /> -- <br /> Projects Total Estimated Costs Payment Recommended Financing Technique <br /> Improvement Bonds,Stormw ater <br /> Ux of Bonds,Grants&Aids, Revenue Bonds, MSA Bonds and <br /> Flood Mitigation/Street Reconstruction $ 8,530,000 and Fees. Grants and Aids <br /> Public Works Building 1,800,000 Tax Levy/Operations HRA Lease Revenue <br /> General Obligation Bond subject o <br /> Central Park 700,000 Tax Levy/Operations voter referendum <br /> . Fre Station 1,500,000 Tax Levy/Operations HRA Lease Revenue <br /> Off-Sale Liquor Store 1,000,000 Liquor Store Revenues Revenue Bonds <br /> Costs are prohibitive-Not <br /> Salvation Army 13,600,000 None Recommending <br /> ear p al Equipmente <br /> Capital Equipment 360,000 Aside Yearly Capital Equipment Set Aside <br /> Total Uses $ 27,490,000 <br /> Flood Mitigation/Street Reconstruction- The City has identified approximately $8.53 million in <br /> flood mitigation/street reconstruction projects. Projected funding is to come from the following <br /> sources: <br /> Street Improvement Bonds $1,700,000 <br /> Minnesota State Aid <br /> Bonds (MSA) 400,000 <br /> DNR 3,540,000 <br /> Storm Sewer Bonds/Utility <br /> Fund Bonds 2,040,000 <br /> Other Governments/Grants 850,000 <br /> Total $8,530,000 <br /> The City can issue the $1,700,000 in planned Street Improvement Bonds as long as at least <br /> 20% of the project costs are assessed back to the benefited properties (Minnesota Statutes <br /> Chapter 429). <br /> 2 SPRINGSTED Page 1 <br />