5.2. SR 11-02-2009Cry 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
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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
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on this fall is pert~.a.anent fence installation.
At IVlonday evening's meeting ~ would life to give ~rou a brief presentation, includin hotos
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of what the completed construction loops Like. I will also give you a quick u date on the cost
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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
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* 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
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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
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At Monday evening's ilaeeting,l will be available to answer any questions the Council mi ht
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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