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WSB & Assoclates, Inc. Infrastructure ■ Engineering ■ Planning ■ Construction 701 Xenia Avenue South Suite 300 Minneapolis, MN 55416 Tel: 763 541-4800 Fax: 763 541-1700 December 28, 2010 The Honorable Mayor, City Council and Staff c/o Michael Morrison City of St. Anthony Village 3301 Silver Lake Road NE Minneapolis, MN 55418-1603 Re: Engineer Update -St. Anthony Village, MN WSB Project No. 1626-46 Dear Honorable Mayor, City Council, and Staff: Attached for your consideration is a resolution transferring funds from Street Reconstruction Fund #504 to the 2008 Silver Lake Road Improvement Project and to the 2009 Chandler Drive/Foss Road Improvement Project. The 2008 Silver Lake Road Improvement Project final cost to the City of St. Anthony is $3,161,184.22. This cost is below the $3,500,000 budgeted for the project; however, exceeds the $3,122,983.55 of available funds for the project to date. The shortfall in available funding for the Silver Lake Road Project is attributed to less than anticipated revenue generated from sewer and water access charges from the construction of Silver Lake Village phase 2, which as you are aware has yet to take place. The 2009 Chandler Drive/Foss Road Improvement Project final cost to the City of St. Anthony is $2,628,843.34. This cost is below the $2,700,000 budgeted for the project; however, exceeds the $2,602,551.55 of available funds for this project. The shortfall in funding for the 2009 Road Improvement Project is attributed to changes in the accounting requirements and capitalized interest. Adjustments to these new processes have been made to avoid this issue in the future. If you have any questions, I will be present at the January 11, 2011 Council Meeting to discuss those with you or please call me at 763-287-7182. Sincerely, WSB & Associates, Inc. Todd E. Hubmer, PE City Engineer Enclosures Minneapolis 0 St. Cloud Equal Opportunity Employer 72