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City Council Minutes <br /> March 24, 2015 <br /> Page 3 of 5 <br /> Paul Steinman, Springsted, presented the Council with a financial review <br /> showing the financial impact if the City decides to accept the road <br /> turnbacks of CSAH 11, CR 112 and TH 371 from the County. <br /> Paul Steinman explained that by utilizing the funds received from the <br /> County for road projects on the three roads, the special revenue fund will <br /> last almost through the year 2025. The scenario presented does not <br /> impact the General Fund levy. Mr. Steinman suggested a way to fund <br /> operating costs of$130,000 after 2025 by slowly laddering the levy up to <br /> $130,000 at $16,250 per year <br /> Mr. Steinman explained that this is a ten year plan. The funds will be <br /> depleted before the City will need to do a reconstruction of Highway 371 <br /> which will cost $7 — 10 million, considering inflation. Mike Loven stated the <br /> scenario does not take into account the approximate 2.5 mt of road that <br /> the City will be getting from MnDOT Mayor Sjoblad stated the City has <br /> many existing roads that need repair ands getting behind on these <br /> projects. <br /> The Council discussed the proposal from the County for the City to pay a <br /> portion of the interchange at County Road 11 and 371. The Council noted <br /> that this should not be a City expense and should be funded by the state <br /> or the county. <br /> • It was a Council consensus to accept C.S.A.H. 11 as a turnback <br /> from the County at the County's offer amount of$659,000 but that <br /> the City will not pay the $558,000 for the interchange. <br /> • The Council discussed C.R. 112. Mayor Sjoblad stated that the City <br /> %% had previously worked with the County to adjust the road <br /> standards. He stated that by doing this, the City implied that it <br /> would be taking back the road as a City road. It was the consensus <br /> of the Council to accept the turnback of C.R. 112 along with the <br /> County's offer of$793,000. <br /> • The Council discussed the logic of accepting T.H. 371 along with <br /> the 4.2 million dollars. The Council noted that it is not financially <br /> feasible for the City to take the road. It was noted that the City is a <br /> long ways away from a population of 5,000 at which point it would <br /> receive funding from the State. It was the consensus of the Council <br /> that it was not in the best interest of the City at this time to accept <br /> T.H. 371 as a turnback from the County. <br /> 5. WWTF <br />