Laserfiche WebLink
PROJECT AND DESCRIPTION <br /> <br /> ~NORTHBOUND LIQUOR STORE: <br /> ~he construction of a new liquor store at the northwest <br />//~t~Tcorner of Highway 169 and 193rd Avenue. The planning <br /> and designing of this liquor store took place in 1996. The <br /> construction will begin in spring, 1997, and the project <br /> will be completed in fall, 1997. <br /> <br />197TM AVENUE SIGNAL: <br />Installation of a new signal in 1997 at 197th Avenue and <br /> <br />Highway ~1f~9. <br /> <br />ICE ARENA: <br />Construction of a second ice arena. This arena will be <br />connected to the existing Elk River Ice Arena. The <br />project was substantially completed in January, 1997, <br /> by fall, 1997. <br /> <br />COST AND FINANCING <br /> <br />$1,400,000 - this project will be financed from Liquor <br />Store Reserves and Revenue Bonds. <br /> <br />The total project is expected to be $195,000. The street <br />and intersection reconstruction work was completed in <br />1996. The city share of the project is $48,750 and will <br />come from Municipal State Aid (MSA) funds. The state <br />(MnDOT) will finance $97,500 of the project and benefited <br />land owners will finance the remaining $48,750 of the <br />project. <br /> <br />$2.67 million excluding local contributions. Funding <br />sources are: $2.1 million in G.O. bonds based on available <br />revenues after expenses on an annual basis over 20 years; <br />$250,000 grant from the Mighty Ducks Program; <br /> <br />a~alized <br /> <br />$200,000 contribution from youth hockey; $50,000 <br />contribution from the Rogers Plastic Foundation; and <br />$70,000 contribution from the city. The city contribution <br />will come from the Equipment/Infrastructure and Capital <br />Projects Reserves. <br /> <br />Capital Improvement Program (CIP) Year - 1997 Page 2 <br /> <br /> <br />