8.2. SR 10-20-2014 - Laserfiche WebLink

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Ells -Vft _ Request for Action River To Item Number Mayor and City Council 8.2 Agenda Section Meeting Date Prepared by General Business October 20,2014 Justin Femrite, P.E., City Engineer Item Description Reviewed by Feasibility Report for 2015 Street Improvement Tim Simon, Finance Director Project Reviewed by Cal Portner, City Administrator Action Requested Approve, by motion,the Feasibility Report with direction on design alternative for 165`h Avenue and Jarvis Street. Background/Discussion On July 7, 2014, Council provided direction on the scope for the 2015 Street Improvement project. Our consultant,Bolton&Menk,has since completed the Feasibility Report for the improvements and will provide a presentation on its findings. One alternative that the Council asked to see was for a detached trail along the 165`h Avenue and Jarvis Street. This single component has a large impact on the estimated cost of the project. A detached trail along this corridor adds an estimated cost of$957,000 to the project. This segment of trail is not identified in the draft Comprehensive Parks Plan nor has it been discussed by staff or the Park Commission as a high priority segment. Financial Impact The total project cost for the improvement project,including the trail along 165`h Avenue and Jarvis Street,is estimated at$7,386,724. The same project without the trail being included is estimated at $6,429,724. The financial impacts of the lower cost project, not including the trail, are shown in the attached Pavement Management fund analysis and the updated Capital Improvement Plan worksheet. The City of Ramsey Public Works Committee has preliminarily approved the funding of their costs for improvements along Jarvis Street. The preliminary agreement identifies that Elk River will pay for the full project costs from our Minnesota State Aid (MSA) account. Ramsey will then reimburse Elk River over a three-year period starting in 2016. To cover these initial project costs we will need to apply for an advancement of funds into our MSA account. An advance allows us to borrow money against future allocations without penalty or interest. The attached MSA account analysis shows the estimated Ramsey repayment and the projected fund balance over the next five years. Attachments • Feasibility Report • Pavement Management Program CIP Worksheet • Pavement Management Fund Analysis • Municipal State Aid Account Analysis P O w E 8 E U A Y Template Updated 4/14 INAWR