2008_1117_packet - Laserfiche WebLink

Home

26 ■ Construction of Twin Lakes Parkway from Cleveland to Mount Ridge Road; 27 E Construction of Mount Ridge Road from County Road C2 to Twin Lakes Parkway; 28 ■ Construction of utilities (storm sewer, sanitary sewer, and watermain) associated with 2 the segments of Twin Lakes Parkway and Mount Ridge Road described above; and ■ Signalization of the intersection at Cleveland Avenue and Twin Lakes Parkway 1� Based on the Twin Lakes Allocation Study, the total cost of these improvements is estimated to be 32 approximately $3.3 million -- $974,000 for right-of-way acquisition; $514,000 for the construction of the segment of Twin Lakes Parkway; $988,000 for the construction of Mount Ridge Road; $500,000 for the construction of utilities; and $330,000 for signalization of Cleveland Avenue and Twin Lakes 35 Parkway. The City applied for a grant of $1 million to undertake this work. 36 In September, staff received notice that Roseville would receive $528,846 in a grant award. At this 7 point, staff is working with DEED on the official contract, which will be brought to the Council for 3 final execution. The grant dollars will be able to be used to pay for costs for the construction of the 3 infrastructure as identified in the application, namely the construction of Mount Ridge Rd, a portion of '41"), Twin Lakes Parkway, the associated public utilities, and the signal at Cleveland and Twin Lakes "'I 1 Parkway. Staff is calling the segments of the public infrastructure that were a part of the DEED grant; ,"12 Twin Lakes Infrastructure, Phase 1. Z4 � , 3 Timing and Construction of Twin Lakes Infrastructure- Phase 1 Z� z; The scheduled completion of the design work for the Twin Lake infrastructure in the next few months 44, 5 provides an opportunity for the City to initiate the construction of Twin Lakes Infrastructure, Phase 1, in 44, 6 Spring 2009. Next steps include the permanent and temporary easement acquisition process, starting 44, 7 with appraisals. These can be completed by mid-December, when construction limits will be identified so we can start negotiating with property owners. We need to purchase the right- of- way for the 44�,) segment of Twin Lakes Parkway from Cleveland to Mt. Ridge Road, and temporary easements along 5o both Twin Lakes Parkway and the existing Mt. Ridge Road right- of- way. 5 1 Ideally, the construction would be undertaken by a master developer of the Twin Lakes development, 52 but as that is not the situation presently, staff believes the City should take a greater role in initiating the 53 construction of the Twin Lakes infrastructure. Please note that staff is not suggesting that the City pay 5,4 for the costs without any reimbursement from developers. The "Infrastructure Improvements for the 55 Twin Lakes AU AR Area- Final deport" clearly defines each parcel's obligation for its share of costs 56 for the infrastructure. It will still be the expectation that a developer/land owner will be responsible to 57 pay for those costs. As the costs for the infrastructure are anticipated to be collected at time of 58 development of the parcel, staff is proposing that the City fund the construction of the infrastructure in 5 the interim through the use of existing TIF balances and other sources. 6o Below is a breakdown of existing TIF District balances. Available Addl in Addl in Available Funding, Sources Balance 2008 2009 12/31/09 TIF District #1 (Centre Pointe) $ 600,000 $6009000 $ 192009000 $ 2,400,000 TIF District # 1.1 (Old Twin Lakes) $ 2,925,000 $ 225,000 450,000 396009000 Totals $ 395259000 $8259000 $196509000 $690009000