10.01 - Government Drive Funding

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L Springsted Incorporated 380 Jackson Street, Suite 300 S p r t n 9 S t e d Saint Paul, MN 55101 -2887 Tel: 651 - 223 -3000 Fax: 651 - 223 -3002 www.sphngsted.com MEMORANDUM DATE: September 16, 2011 TO: Pequot Lakes City Council FROM: Paul Steinman, Vice President/Client Representative SUBJECT: Financing Options for Government Drive — FOLLOW UP FROM 8 -30 -11 As a result of the Council worksession on 8- 30 -11, we were asked to provide a follow up memo related to two specific items: 1) Include additional street project cost estimates in the financing analysis 2) Modify the tax impact worksheet to recognize both the General and Rural rates The following additional street project costs were added to the analysis: $ 120,000 Old 371 (North half) 2,450' curb —gutter —sidewalks 30' wide $ 25,000 East Grove Street 785' shape — gravel — pave 20' wide $ 60,000 East Woodman Street Pave — 24' wide? curb — gutter on North side? $ 17,000 Buschmann Alley 530' gravel — pave 14' wide $ 4,000 North Brunes Street gravel — pave $ 35,000 Derksen Road (West half) 900' gravel — pave to 10 ton 10,000 Noren Alley 625' gravel —pave 10' wide $ 271,000 $ 65,000 Akerson Road (West 1 mile) overlay $ 40,000 Pequot Boulevard (West Lake Street to Ramsey Street) re -shape — remove — replace curb 18,000 Rae Ave 1,510' overlay 22' wide $ 123,000 $ 800,000 Washington Ave Storm sewer — curb — sidewalks — complete rebuild 120,000 County Road 112 curb — gutter — sidewalks (still in CWC control) $ 920,000 $ 70,000 South Hurtig Road gravel -pave 4,200' 22' wide $ 60,000 South Sluetter Road gravel — pave 2,730'X 22'/2 Loon Lake last 670 all city $ 100,000 North Sluetter Road 5,075' gravel —pave — 22' wide $ 90,000 Myers Road 4,980' gravel —pave — 22' wide — (joint with Loon Lake) 20,000 Myers Road 1,200' gravel — pave 22' wide (joint with Jenkins) $ 340,000 Public Sector Advisors