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Award of the contract would be contingent on execution of the temporary easement by Mr. <br />Howse and MnDOT approval of Supplemental Agreement No. 1. <br />Financial Impact <br />The funding for this project has been discussed several times over the past months with the City <br />Council. There are several different sources of funding that will be utilized. First, there is a <br />Federal allocation of $996,000 for the construction of the roadway. In addition, the city has <br />received a Transportation Revolving Loan Fund (TREE) in the amount of $2,431,500. This will <br />be paid back over time using Municipal State Aid monies. There will be a local cost for the <br />watermain construction. All land acquisition costs, and any other street-related costs, will be <br />funded with Municipal State Aid Fund dollars. <br />Attachments <br />• Bid Tabulation <br />• Resolution Accepting Bid and Authorizing Execution of Contract <br />• Supplemental Agreement No. 1 <br />• Howse Temporary Easement Exhibit <br />Action Motion by Second by Vote <br />Follow Up <br />S:\EngineerImprovProj\2008 Improvement Projects\193rd Ave Corridor\11-17-08 cc memo.doc Page 2 <br />