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ELK RIVER HOUSING AND REDEVELOPMENT AUTHORITY <br /> II <br /> January 9, 1996 <br /> , <br /> To: Riverfront Corridor Committee <br /> Interested Parties <br /> Re: ISTEA Application Update <br /> Thank you for your continued support and interest concerning the <br /> Mississippi Riverfront Pathway Project. By virtue of the January 3, <br /> Riverfront Workshop, this project is taking on a distinctive set of historic <br /> components. The project is now entitled, The Elk River Interpretive Trail and <br /> will be positioned as an interpretive river walk depicting the historical <br /> transportation systems of early pioneer trade, and, how those systems came <br /> together to create the settlement of Elk River. This information is more <br /> thoroughly outlined in a January 3 memo from Bruce Chamberlain of <br /> Hoisington Koegler Group,Inc. A second enclosure provides an overview of <br /> the project context and related project description. <br /> II/ Please note that Mr. Chamberlain has identified ISTEA eligible expenditures <br /> totaling $261,000. The design and administration costs drive this total to <br /> $318,000. By way of action at the January 8 City Council meeting, Elk River <br /> will apply for ISTEA funds in the amount of$198,000 (or 76% of the eligible <br /> project costs). By adopting the resolution of support which will accompany <br /> the ISTEA application, the City of Elk River has committed $120,000 for the <br /> balance of the ISTEA project costs. <br /> No action was taken on how to finance the remaining portion of the project <br /> not covered by the ISTEA funds and related non-federal share, etc. This will <br /> likely be left up to the City Council once the fate of the ISTEA application <br /> has been determined. An unsuccessful ISTEA Grant request does not <br /> .)' <br /> necessarily spell the end to this project. However, it requires additional <br /> analysis of the project and a determination as to how to best identify other <br /> sources of funds. <br /> Mr. Chamberlain expects that the City of Elk River will receive preliminary <br /> notification on the ISTEA Grant by March or April. Additional information <br /> will be passed along on a timely basis. It may also be necessary to <br /> participate in an informal workshop with the City Council. This workshop is <br /> . • intended to rebuild momentum and support for the Interpretive Trail Project. <br /> P.O. Box 490 • 13065 Orono Parkway • Elk River, MN 55330-1743 • (612) 441-7420 • Fax: (612) 441-7425 <br /> Equal Opportunity Housing and Equal Opportunity Employment <br />