7.3. SR 05-13-2002 - Laserfiche WebLink

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Howard R. Green Company Project No. 806550J Feasibility Study 175th Avenue Improvements City of Elk River Street Improvements Construction Cost Contingency (5%) Total Construction Cost Administration, Engineering, Fiscal & Legal Subtotal: $ 477,000 23,900 $ 500,900 $140,300 $ 641,200 Cost Estimate Summary Sanitary Sewer Improvements Watermain Improvements Street Improvements Total Estimated Project Cost $ 124,500 $ 175,700 $ 641,200 $ 941,400 VIII. FINANCING In January 1999 the City of Elk River submitted the 175th Avenue improvements project for TEA-21 Federal funding. The project was ranked by the Area Transportation Partnership (ATP) and approved by Mn/DOT and the Federal Highway Administration later that year. Federal Surface Transportation Program (STP) funds are available to cover $360,000 of the road construction, to a maximum of 80% of the road construction portion of the project. Right-of-way, design and administration costs are not eligible for Federal fund reimbursement. As part of the approval process for the Park Pointe Addition, a condition was placed on the development that the developers pay for the lateral sanitary sewer from Tyler Street to the west edge of the development. The City Council and Elk River Municipal Utilities Commission discussed the funding of the trunk watermain. The City's comprehensive plan indicates adjacent land to the north would not be assessed before 2007 for utilities and the property to the south is not in the urban service area. Therefore, it was a joint decision to bid the watermain as an alternative which could be deleted from the project. If watermain is included in the construction, the past policy indicates that the Elk River Municipal Utilities would fund 7