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AUG 03 '04 18:01 T0-7636351090 FROH-RICHARDSON, R[CHTER& ASSOCIATES T-241 P,09/18 F-503 <br /> <br />MEMORANDUM <br /> <br />August 3, 2004 <br /> <br />TO: <br /> <br />FROM: <br />RE: <br /> <br />NCDA Members <br />NCDA Executive Committee/Capital Budget Committee Members <br /> <br />Tim Yantos, Executive Director <br /> <br />Proposed 2005 NCDA Budget <br /> <br />Over the last several weeks, the NCDA funding partners (the county regional railroad <br />authorities) have worked with Governor Pawlenty, Mn/DOT, the Metropolitan Council and the <br />Federal Transit Administration to determine how best to advance the Northstar Commuter Rail <br />Project. On Tuesday, August 3, 2004, the Governor announced a plan to keep Northstar on <br />schedule, and proposed that the Metropolitan Council contribute $2,500,000 to match <br />$10,000,000 in federal funds to be used for property acquisition and BNSF negotiations (see <br />attached press releases). <br /> <br />The attached proposed 2005 buclget reflects federal and regional contributions, as well as the <br />local expenditures necessary to keep Northstar moving. At the NCDA meeting on Thursday. <br />additional information regarding the proposed approach will be available for your <br />consideration. <br /> <br />Action Rec~uested: <br /> <br />That the NCDA Executive Committee/Capital Budget Committee <br />approve the proposed 2005 NCDA Budget and recommend that the <br />NCDA approve the proposed 2005 NCDA budget, <br /> <br /> Northstar Corridor Development Authority <br />2100 3'" Avenue. Anok:.., Minnesota 55303-2265 t763) 323-5700 Fax:/763~ 323-5682 www. norths~artrain.org <br /> <br /> <br />