2001-04-04 Agenda Packet - Laserfiche WebLink

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, � p o ♦ a'�16 ♦ i1J ♦ f • , 2002-2007 Metropohtan Regional Parks Capital Irnprovement Program � The Metropolitan Council in eonsultation with the Metropolitan Parks and Open Space � Commission and 10 regional park implementing agencies has prepared the Metropolitan Regional Parks Ca�ital Improvement Program (CIP) for Calendar Years 2002-07 for public review on April 3, 4 and 5, 2001 (See public hearing notice on page 1 for details on open houses}, The CIP is a budget that proposes State funds and Metropolitan Council bonds to finance the acquisition of land, redevelopment of existing park/trail facilities and development of new facilities far the Regional Park System. The Regional Park System consists of regional parks, park reserves, trails and special recreation features encompassing about 50,000 acres. (See map of the system on next page.) The 2002-03 portion of the CIP proposes $32.5 million into four parts: Part l: $5 million of State bonds matched with $3,333,OQ0 of Metropoli�an Council honds for a total of $8,333,000. State bonds are proposed for park redevelopment at an amount consistent with what is recommended in the 2001-06 Minnesota Capital Bud�et, Presented by Governor Jesse Ventura to the 82" Le�islature. The funds, if appropriated, would finance 92% of the projects that were not funded in the 2000-01 CIP. � Part 2: $5,610,000 of State funds matched with $3,814,000 of Metropolitan Council bonds for a total of $9,424,000. This finances the remaining 8% of projects that were not funded in the 2000- Ol CIP plus new proposals. Projects in Part 1 would have to be funded first before Part 2 would be eligible for funding. Part 3: $5,160,000 of State funds matched with $3,583,000 of Metropolitan Council bonds for a total of $8,743,000. Projects in Part 2 would have to be funded first before Part 3 would be eligible for funding. Part 4; Proposes that up to $2.4 million of Metropolitan Council bonds be available as a 40% match to other revenues to acquire land or to capture extra� federal TEA-21' grants that are not funded in Parts 1 through 3 from the date of this CIP's adoption (ten�atively scheduled for May 30, 2001) until the adoption of the 2004-OS CIP in May 2003. This is an"emergency reserve" 'that would only be used when no other funds were available. As a 40% match to other revenues, the $2.4 million of Council bonds would match $3.6 million for a total of �6 million in Part 4. � The first three parts of the CIl' were prepared fo allow the Governar and Legislature to determine � how much to appropriate in General Obligation bonds in 2002 and Environmental Trust Funds as recommended by the Legislative Commission on Minnesota Resources in 2003. The requested � State revenue (State bonds or Environmental Trust Funds) will be matched on a 60I40 basis with bonds issued by the Metropolitan Council in 2002 and 2003 to meet projected cash flow needs of � projects. In some eases, the CIP proposes to match authorized federal TEA-21 grants for trail �� projects. The TEA-21 funds are not included in the CIP since this CIl' only illustrates what State ' and Council funds will be needed to finance projects. � 1 TEA-21 stands for "Transportation Efficiency Act for the 21 s ` Century". These are federal grants used to provide up to 80°/o of construction costs for trails as well as highways and transit capital improvements. 3