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Page 2 of 2 estimated amount of $228,218.76 for temporary and permanent easements along the corridor. A copy of this approved agreement is provided in Attachment A. A Cooperative and Maintenance Agreement for Lexington Avenue has been prepared to define engineering, contract administration, construction cost participation, ownership and maintenance responsibilities for the project. A copy of the proposed cooperative agreement is provided in Attachment B. The estimated City cost share under the agreement is $732,783.60. An Agreement for Maintenance of Traffic Control Signals and EVP System has also been prepared for the Lexington Avenue project to define ownership, maintenance, and on-going cost participation for installation of a new traffic signal on Lexington Avenue at Target Road. This new traffic signal would provide controlled access to the proposed third phase of the Lexington Station Development site. The three other traffic signals along Lexington Avenue at County Road E, Grey Fox Road and Red Fox Road would continue to be governed by the existing signal agreements approved in 1990. The City Attorney as reviewed the proposed Cooperative and Maintenance Agreement document and the Agreement for Maintenance of Traffic Control Signals and EVP System document. Staff recommends approval of these two documents at the November 23 City Council meeting. Staff is seeking any direction, questions, or requested information from the City Council regarding the Lexington Avenue project during the work session on November 16. Budget Impact The total estimated cost of the project is $12,481,894. The City’s cost participation in the project includes an estimated amount of $228,218.76 for easement acquisition and $732,783.60 for construction, for a total amount of $961,002.36. Staff recommends that the city reserve a five percent contingency in funding estimates due to the complex nature of the project, for a total estimated project cost of $1,010,000. The proposed funding sources are summarized in the following table. PIR Fund (roadway and signal replacement) $ 400,000.00 Special Assessments (new Target Rd signal) $ 187,000.00 State Bonding Funds (water main replacement) $ 423,000.00 Total Estimated Funding $1,010,000.00 Attachments Attachment A: Cooperative Agreement for Right of Way Acquisition Attachment B: Cooperative and Maintenance Agreement, Lexington Avenue Attachment C: Agreement for Maintenance of Traffic Control Signals and EVP System Attachment D: Ramsey County Public Works Cost Participation Policy