01.05A - Highway 371 - Council Discussion on Road Turnbacks

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our transportation infrastructure was built by someone else;a developer,the federal government as part of a grant,or the state government as part of a low interest loan. For the remainder,we took the revenue generated during the"free"period of time- the time before we had any significant maintenance costs-and used it to improve other parts of the City. Realize that we've not been at this long;you don't have to go too far back in our past to find a transportation system that was far more modest than the one we have now. For a city seeking to attract outside investment,retain existing capital and continue to prosper,we have to get a handle on this problem. It is not simply enough to say we need"growth".If we continue to grow in this same,unproductive pattern,we're only going to dig our financial hole deeper.That is the primary objection to spending a million+dollars extending utilities easterly to attract new investment along the realigned highway corridor-it won't pay off.The type of growth we need has to occur at a higher rate of return. So what do we do to solve this problem?The updated Comprehensive Plan provides guidance: 1. We look to make better use of our current infrastructure investments and increase the value of private-sector investment supported by the current system. 2. We make sure that we do not take on new infrastructure liabilities unless they will generate,over multiple life cycles,more in financial return to the City than they create in financial obligation. 3. We look to reduce our long term commitments for maintaining existing infrastructure. If you are wondering how we do these things,read the updated Comprehensive Plan. Contrary to what was represented at the past City Council meeting,the updated plan is not about creating gated communities,forcing people to abandon their cars or transforming Pequot Lakes into a sleepy,bedroom community. It is all about improving the value of the City for residents,business-owners and visitors. As a final note:The Planning Commission has so far studied just the surface transportation system in the City's traditional neighborhoods.The cost to maintain the City's underground infrastructure,which is also quite old,is many times that of the City's roads and streets.We have no realistic options for accomplishing this outside of state and federal assistance,a funding source of increasing instability. If we want to be responsible,we can't ignore this or pretend that it can be solved by continuing on the present course. It is only by increasing the value of the City- significantly growing our revenues without adding significantly to our liabilities-that we can hope to resolve these long term fiscal shortfalls and sustain prosperity into the future.