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<br />> <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />Memo to Mayor and Council <br />March 25, 2003 <br />Page 3 of3 <br /> <br />The Cost Participation Agreement is also attached for the Council's consideration. From staff's <br />perspective, there is not anything atypical within the agreement. <br /> <br />Sil!na. and EVP Maintenance Al!reement <br /> <br />The County is requesting that the City enter into a signal and EVP maintenance agreement to <br />outline responsibility for the signal at Hamline Avenue. Based on staff's review of the <br />agreement, the agreement as proposed will not have any adverse fiscal or operational impacts. <br />The agreement is attached for your review. <br /> <br />Underpass <br /> <br />Attached is a memo from URS outlining the preliminary review of options for an underpass. <br />They also outlined the potential cost of an overpass. For reference, the estimate in the City <br />Engineer's memo only outlines construction costs associated with each of the options. <br />Engineering fees and project contingency would each add an estimated additional 10% to the <br />project costs. This translates into a revised project cost of $642,000 for the underpass and <br />$850,800 for the overpass. As indicated in the City Engineer's memo, this would require that the <br />project be delayed at least a year. If the Council was inclined to consider an underpass, staff <br />would suggest the following financing for the project: <br /> <br />Park Fund: <br />Non-Assessable Road Improvement Fund: <br />TOTAL: <br /> <br />$100,000 <br />$542.000 <br />$642,000 <br /> <br />Under the above financing scenario, this would leave an estimated fund balance of $454,863 in <br />the Park fund and $1,044,632 in the Non-Assessable Road improvement fund. <br /> <br />At the March 10, 2003 Council meeting, the Council inquired about the cost of sleaving in the <br />underpass. This would have a capital cost of approximately $352,000. Pursuing this option <br />would also result in the delay of the project. <br /> <br />Reauested Action <br /> <br />1. Consider approval of the staff recommended financing plan. <br />2. Consider approval of the cost participation agreement. <br />3. Consider approval of the signal maintenance agreement <br />4. Provide direction on the underpass issue <br />