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In response to the current higher interest rate environment and consistent with the goal of reduced <br />debt, staff has worked to reduce the bond amount for the 2025 Street and Utility Improvement Project. <br />The utility costs for the 2025 Street and Utility Improvement Project were able to be reduced <br />through the use of one-time utility infrastructure funds, made available by the repayment of an <br />interfund loan from a TIF fund to the Utilities Infrastructure Fund. <br />Because a portion of the project (39TH Mill & Overlay) was in a TIF fund, part of the costs are <br />eligible to use TIF funds. <br />Stormwater funds were applied to applicable stormwater costs <br />Street infrastructure fund dollars are recommended for payment of the pedestrian safety <br />improvements and Saint Anthony Boulevard sidewalk improvements, which is consistent with <br />previous intent for this fund. <br />The equation below demonstrates how other resources were applied to reduce the bond size from <br />over $3 million to under $2 million. <br />2025 STREET AND UTILITY PROJECT FUNDING <br />Total Project Costs $3,041,370.96 <br />Utilities Infrastructure Fund (361,255.64) <br />Stormwater Utility Fund (161,285.65) <br />Streets Infrastructure Fund (122,270.38) <br />TIF Fund (525,000.00) <br />Bond proceeds needed: $1,871,559.29 <br />RECOMMENDATION <br />Staff recommends that the City Council discuss the revised street improvement schedule and its <br />alignment with projected debt capacity. Key points for consideration include: <br />Confirming the updated timing of upcoming street reconstruction phases, including proposed <br />off-years <br />Reviewing the City’s existing debt service schedule and capacity for future bonding <br />ATTACHMENTS <br />Presentation <br />2026 Revised CIP – Street Projects <br />2026 Debt Levy model <br />2026 Levy Transition model <br />8