5.2. SR 11-02-2009 - Laserfiche WebLink

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Cry of Elk .~ River MEMORAf+IDUM ay~r and qty ®unc~~ e ° Terry a.~rer, ub~~c ~rl~~ arec~~r T : ®ven~~r , To bra v~n~e ~n1r®ven~en pale item 5,2, Tla.e 19310 A~renue ~.nproveinent is very close to being substantiall coin lete. we antici ate drat y p p somet~.ne tl~.s weep the street wrll. be opened to traffic flow, The contract on this project will be held open through tl~e winter ~nontlls since it is too late in the year to get permanent seeding installed :i.n some of tl~e locations. The other item that will be continuin g on this fall is pert~.a.anent fence installation. At IVlonday evening's meeting ~ would life to give ~rou a brief presentation, includin hotos gp of what the completed construction loops Like. I will also give you a quick u date on the cost p of tlae project and the financing sources. The estimated project costs are as follows, Estimated final construction cosh $3,300,000 Estimated land acquisition cast X17 parcels} 1,100,000 Estimated o~rerllead 900,000 Estimated total project cost ~5 300 000 > > * Original bid reduced by X500,000 through value engineeritlg, As tlae Council is aware, this project is being entirely paid for, with. t11e exce ion of the p water main improvements, by a federal grant and municipal state aid funds. The Ci r received a transportation revolving loan fund wlaicll leas paid for tla.e project during construction and will be paid bacl~ o~rer time with municipal state aid dollars. A su~nmar of tl~e prod ect financing is as follows: Federal grant ~SAFTE~.-LU} $99G 000 Transpartatian Revolving Loan Fund ~TRLF} 2,431,500 Trunl~ Utilities Fundwater improvements} 451,000 Municipal State Aid ~MSA} 1421500 Total project cost ~5 300 000 > > At Monday evening's ilaeeting,l will be available to answer any questions the Council mi ht g have about the pi•ajectand/or the cast and financing, S,~Zn~necrZmpro`TProj~ZD09 Impio~Tement Pxojects~193rd Ate Corrido~~~102 09 memo to CC,doc