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2. The spreadsheet includes estimated operating costs <br /> that the City will incur with the acceptance of the road <br /> turnbacks from the County and for the 2.1 miles of road <br /> that the State will turn back to the City. <br /> 3. The County requires the City to cost share in the cost <br /> of the interchange in the amount of$558,000. The <br /> interchange is located on State and County property. The <br /> County receives CSAH funding for these types of projects. <br /> Could the City's share be fully funded by the County? <br /> 4. If the City of Jenkins signs municipal consent, the City <br /> of Pequot Lakes will be required to pay $55,000 for the <br /> removal and construction of the signal. <br /> 5. The City's financial consultants have informed the <br /> City that the City can retain money received from the <br /> County. See Row #9 on the attached spreadsheet for further <br /> explanation. A memo on the subject of using cash versus <br /> financing from Springsted is attached. <br /> Council Action Requested: There is no formal action <br /> requested of the Council. <br /> Because of the short timeframe the City is dealing with we <br /> more than likely will need time to negotiate with the <br /> County and time for a couple more special Council <br /> meetings. <br />