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'ty of <br /> <br />iver <br /> <br />ITEMS 6.t . 6.3. <br /> <br />MEMORANDUM <br /> <br />MAYOR & CITY COUNCIL <br /> <br />FROM: <br />DATE: <br /> <br />WILLIAM RUBIN, ED COORDINATO~5~ ~.~ <br />JANUARY 8, 1996 <br /> <br />SUBJECT: <br /> <br />INTERMODAL SURFACE <br />TRANSPORTATION EFFICIENCY ACT <br />(ISTEA) GRANT APPLICATION <br />TOPICS/ISSUES <br /> <br />Introduction <br /> <br />At its meeting on January 8, the Elk River City Council will be asked to <br />consider three matters concerning the ISTEA Grant Application relating to <br />the Mississippi Riverfront Pathway Project: <br /> <br />To consider source(s) for the non-federal share of the project <br />costs; <br /> <br />To consider a presentation by Hoisington Koegler Group <br />concerning the contents of the ISTEA Grant application; and, <br /> <br />To consider a resolution of support of the ISTEA Grant <br />application. <br /> <br />Background <br /> <br />Since its formation in August of 1994, the HRA's Riverfront Corridor <br />Committee has diligently participated in the development of concept plans for <br />the Mississippi Riverfront Pathway Project in downtown Elk River. In <br />October of 1995, the concept plans were approved by the HRA and City <br />Council. As a result, this enabled the Riverfront Committee to advance the <br />project to its next phase. A component of this phase is the preparation of a <br />grant application for Intermodal Surface Transportation Efficiency Act <br />(ISTEA) funds. The ISTEA funds only cover a portion of a project's total <br />costs. In fact, the average federal funding request has historically been <br />approximately $258,000 per project. As a result, each applicant, known as <br />the sponsoring agency, is required to secure and guarantee the local share of <br />costs associated with their respective project. On a separate attachment, a <br />variety of sources has been identified for this exercise. <br /> <br />13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425 <br /> <br /> <br />