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City of Hugo
<br />2020-2024 CIP
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<br />Project: Street Improvement Fund Year: 2020-2024 Appendix C
<br />Sources of Funds
<br /> 2020 2021 2022 2023 2024
<br />Beginning Fund Balance $ 5,266,196 $ 5,263,131 $ 4,215,133 $ 4,098,666 $ 2,284,000 Total
<br /> Property Tax Levy $ 1,160,000 $ 1,160,000 $ 1,160,000 $ 1,160,000 $ 1,160,000 $ 5,800,000
<br />Assessments - S. Egg Lake $ 13,160 $ 13,160
<br />Assessments - Property Demo $ 2,377 $ 2,377
<br />Assessments - 165th Street $ 4,806 $ 4,641 $ 4,476 $ 4,311 $ 4,145 $ 22,379
<br />Assessments - Rice Lake Mea $ 39,003 $ 37,690 $ 36,377 $ 35,064 $ 33,751 $ 181,885
<br />Assessments - 147/Oneka Lake Blvd $ 12,606 $ 12,199 $ 11,792 $ 11,385 $ 10,979 $ 58,961
<br />Assessments - North Sunset Lake $ 13,844 $ 13,409 $ 12,973 $ 12,538 $ 12,102 $ 64,866
<br />Assessments - Oneka Lk/Harrow $ 8,968 $ 8,694 $ 8,421 $ 8,147 $ 7,874 $ 42,104
<br />Assessments - Goodview Ave (reclamation) $ - $ 19,650 $ 19,062 $ 18,474 $ 17,886 $ 75,072
<br />State Aid* $ 653,456 $ 516,230 $ 516,230 $ 516,230 $ 516,230 $ 2,718,376
<br /> Total Sources of Funds $ 1,908,220 $ 1,772,513 $ 1,769,331 $ 1,766,149 $ 1,762,967 $ 8,979,180
<br />*Estimated 21% Reduction
<br />Uses of Funds
<br /> 2020 2021 2022 2023 2024 Total
<br /> 2020: Finish 130th Street (Adelaide Landing) $ 300,000 $ 300,000
<br />2020: Goodview Avenue (rural reclamation) $ 1,255,035 $ 1,255,035
<br />2020: Elmcrest Avenue (with culvert) $ 281,250 $ 281,250
<br />Masonry Monument Sign - North End of Hwy 61 $ 75,000 $ 75,000
<br />2021: Downtown Area (rural to urban recon) $ 2,820,511 $ 2,820,511
<br />Excludes 145th Street & Finale Avenue Includes Extension of 147th to Oneka Pkwy 2022: Oneka Parkway (urban recon, mill & overlay) $ 1,860,798 $ 1,860,798
<br />2023: 130th St & Farnham (urban recon) $ 849,540 $ 849,540
<br />2023: Falcon Avenue (rural reclamation) $ 437,855 $ 437,855
<br />2023: Flay Road (urban mill & overlay) $ 262,756 $ 262,756
<br />2023: Beaver Ponds (urban mill & overlay) $ 451,371 $ 451,371
<br />2023: Fenway Blvd, Europa, Fable Hill Way $ 1,293,751 $ 1,293,751
<br />(urban mill & overlay) 2023: Goodview Avenue (urban mill & overlay) $ 260,542 $ 260,542
<br />2024: Birch Tree Ponds (urban full bit removal) $ 1,517,381 $ 1,517,381
<br />2024: Signal at Oneka Pkwy/CSAH 8 (county project) $ 25,000 $ 25,000 $ 200,000 $ 250,000
<br /> Total Uses of Funds $ 1,911,285 $ 2,820,511 $ 1,885,798 $ 3,580,815 $ 1,717,381 $ 11,915,790
<br />Ending Fund Balance $ 5,263,131 $ 4,215,133 $ 4,098,666 $ 2,284,000 $ 2,329,586
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