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6.3. SR 05-18-2009Item # 6.3. of ver MEMORANDUM TO: City Council FROM: Lori Johnson, City Administrator DATE: May 18, 2009 SUBJECT: Interchange Grant Mn/DOT representatives recently approached City staff to see if the Ciry was interested in applying for newly available transportation funds fox interchange improvements that promote economic development. A total of $40 million is available for interchange improvements with a maximum of $10 million per interchange. The interchange would not need to be bid until 2013. As you know, a new interchange on Highway 10 has been identified in the 1715[ Avenue Focus Area Study. Because the grant for the interchange does not require bid authorization until 2013, the new interchange on Highway 10 north of the RDF plant is an eligible project. The Ciry would have time between now and 2013 to design the interchange and determine how the remainder of the project would be funded. This is a one time opportunity to receive $10 million to fund the interchange. Staff is prepared to submit an application for funding by the June application deadline. Public Works Director Terry Maurer and Planning Manager Jeremy Barnhart met with Mn/DOT representatives about this funding opportunity. They will be at Monday's meeting to provide additional information and to answer questions from the Council.