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Financial Implications <br />This project has major financial implications for the city including the following: <br />1. Assessments levied in accordance with assessment policy. <br />2. Use Permanent Improvement Revolving (PIR) funds to fund the balance of <br />the street improvements. <br />3. Expenditure of utility enterprise fund dollars to pay for the repairs needed to <br />the existing utility system. <br />4. Utilize surface water management utility funds to construct water quality <br />improvements throughout the project. <br />The following table shows the budgeted amount for engineering and construction versus <br />the preliminary estimated amount listed in the feasibility report: <br />Fund <br />Budgeted <br />Feasibility Report <br />Watermain Enterprise Utility <br />$ <br />7500 <br />$ <br />122,483 <br />Sanitary Sewer Enterprise Utility <br />$ <br />20,000 <br />$ <br />68,159 <br />Surface Water Management Utility <br />$ <br />175,000 <br />$ <br />124,466 <br />PWAssessments <br />$ <br />532,000 <br />$ <br />516,406 <br />State Aid (street and storm sewer) <br />$ <br />30000 <br />$ <br />303,910 <br />Total <br />$ <br />1,1021000 <br />$ <br />1,13 5,423 <br />The watermain and sanitary sewer improvements identified in the feasibility report have a <br />greater estimated cost than what was included in the budget. The finance director has <br />indicated that these funds currently have sufficient balances to accommodate the increase. <br />Council Action Requested <br />Motion to approve Resolution 2009-03 8 : Resolution receiving the 2010 Pavement <br />Management Program Feasibility Report and ordering the public hearing for <br />improvement. The public hearing would be scheduled for the regular City Council <br />meeting on Monday, January 11, 2010. <br />City Council Meeting <br />\\Metro-inet.us\ardenhills\PR&PW\Engineering\Council_Actions\2009\12-14- <br />09Memo 2010PMP ReceiveFR OrderPH.doc <br />Page 2 of 2 <br />