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MEMORANDUM To:Saint Anthony Village City Council From:Deborah Maloney, Finance Director Date:June 24,2026 Request: Future Street Improvement Plan & 2026 Debt Levy BACKGROUND The City’s street improvement program remains a key component of its long-term infrastructure strategy. In recent years, the City has followed a schedule of street reconstructions to address aging pavement and underground utilities following a two-year on, one-year off schedule. This program has been primarily funded through a combination of special assessments and general obligation bonding. Staff has worked in coordination with the City’s engineering team to evaluate and adjust the street reconstruction schedule. As a result of this review, the City is proposing to pause street projects in 2026 and 2027 and transition to an every-other-year project cycle beginning in 2028 to accommodate a Kenzie Terrace reconstruction project scheduled by Hennepin COunty that will include City cost participation. This modification is intended to reduce the frequency of debt issuance while still appropriately maintaining the City’s street and utility infrastructure. This updated pacing also helps allow for debt capacity for other long-term capital needs and creates space to plan for facilities and park investments without sharp fluctuations in the City’s debt service levy. Strategically spacing out street projects will also give the City flexibility to evaluate timing, funding sources, and community priorities as other infrastructure needs emerge. The 2026 debt levy model has been updated to account for the revised street improvement schedule and estimated future bonding amounts. The updated timeline aligns with bond maturities to help maintain a declining debt levy as demonstrated in the image below. 6